Major features of a Business Plan


1. Business plan outline
Business plan is a document that has been around for decades. So there is certain information people do expect finding in the plan you present. Analysing sample business plans you can conclude that below listed are the usual business plan parts (small explanation for each part is provided):

  • Executive summary – contains brief overview of your business project, explains main consumer insights and product benefits. Here you can also find the amount of investment the project requires and its expected profit.

  • Company summary – provides general information about the company behind the project, its business mission and objectives, ownership structure etc.

  • Business environment – contains description of competitive products and companies, defines target market and key competitive advantages of the product.

  • Sales and marketing plan – in this part the detailed description of the product is provided along with its competitive advantages, pricing, advertising plan. Sales estimate is usually given in this part, too.

  • Operational plan – explains how you plan implementing your project in terms of production, quality control plan, customer service tips, procurement (supplier management). This part also contains implementation schedule for major works.

  • Management and personnel – here you provide information about your key team members and their business competencies as well as provide information about your HR and hiring policy, headcount planning and salary expense.

  • Financial plan – this is probably the most controversial part of a business plan as this is where you present the three major financial projections: balance sheet, income statement and cash flow statement.

  • Investment plan – here you outline how you plan using funding received and what are the sources of investment you plan attracting (own capital, bank loan, direct investment etc.). You also declare the cooperation policy between you and investors, profitability ratio and payback period and the exit policy (how investors will exit the project and receive back their investment and profits)

  • Risk management policy – in this part you outline the major financial and technical risks of the project, risk management measures and counteractions you plan taking in case any risk actually takes place.

    • 2. Being user friendly
    The best business plan template should be clear and understood. Ideally it should provide fields for you to fill in and the hints helping you to do that quickly and professionally. Working with the business plan is like answering major questions about your project. These answers should be brief and logical and appear right where the reader expects to find them.

    3. Business plan financials
    Doing financial calculations for your business plan might take a lot of time but using automated forms is a smart way to boost productivity and avoid making technical mistakes. So the best business plan template should calculate your balance sheet, profit and loss statement, cash flow statement and major financial ratios (like working capital ratio, debt to equity ratio, margins etc.) automatically.





     


    For a help preparing a business plan for your business, Contact our business development/accountant manager Oscar Kalu on oscark@multiplechoiceaccountancy.com.










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