How to Write the Perfect Business Plan for Beginners? Both entrepreneurs who are new to the business world, as well as companies that have been around for a long time, need to have a business plan. Of course, it is important that the business plan is reviewed and updated regularly, to see if the objectives have been achieved. Sometimes, a business plan will change the direction of the business in a new direction. For those of you who are just starting a business, let’s see how to prepare a good and appropriate business plan.
What is a business plan?
A business plan is a roadmap that shows the growth and development of the business you are currently living. The business plan will include long and short-term plans, marketing plans, and target consumers.
Investors will see if the product you are selling is in accordance with the market’s wishes. Do you have a mature plan to increase sales volume? With the right business plan, you will have no trouble answering them all.
Things that must be in a business plan
Basically, a business plan is a detailed description of the business that you will run. For that, you need to make sure the following things are in the business plan that you make.
- A description of the business idea that will be run
- The reason why this business idea is the answer to the need
- The reason why you are the right person to live it
- Explain how you can make this business profitable and grow
- Explanation of the target market of this business
- Funding details for the business you want to run
The three main parts of a business plan
To make it easier to create a business plan, you need to understand the three main parts of a business plan. The first thing is the concept, it contains details of the type of business or industry that will be undertaken.
The second is market analysis. As an entrepreneur, you need to target consumers for the products you offer and know who your competitors are in this business.
Then the last is a financial plan, basic calculations will be very important because you need to calculate the capital needed before starting a business.
Tips for Making a Business Plan for Beginners
Still, confused when going to make a business plan? You can start by looking for the target consumers of the business you are going to run. After that, you can try to design a business plan by following the tips that we have summarized below:
- Write a summary that provides important information about your business. Focus on describing your target consumers, solutions to problems that will be faced, and the advantages of your product compared to competitors.
- Write a description of the company or business that you are running in three parts, namely history, goals, and reasons for doing this business.
- The next step is to know the market potential for business development. If the target market is too broad or non-specific, it will be difficult to achieve the goal.
- Do a competitive analysis, you need to do this research to see how ready other companies are in selling their products. Take the time to think about what makes your product different from existing ones.
- Describe the product you are selling and its benefits, the production process, and explain the life cycle of the product you are going to sell.
- Develop a marketing strategy, so that there is growth in sales of the products you offer. Create effective sales tactics such as marketing through social media.
- Prepare a budget and financial plan containing an income statement, cash flow statement, and net income. This will make it easier for you to know how far your business is making a profit.
- Attract people you trust with the personality ability to turn your business idea into reality and grow it. Good organizational management will help your business continue to run.
- Know exactly where your business capital will come from. You should try to be as realistic as possible, including best and worst-case scenarios just in case.
- Create organized attachments of official documents for deeds, business licenses, and legal agreements if needed.
That’s How to Write the Perfect Business Plan for Beginners. You can apply it to large or small businesses. Of course, with careful planning, your business will be easier to grow.