Business Plan is the most important document for a company that is just being established or for a company that is implementing a new business project. Regardless of the size of the company, it is worthwhile to make a business plan for it.
Professional drawing up a business plan makes it possible to significantly increase the chance of project success. This is due to counting future costs, getting to know the competition, matching the offer to customers' needs or anticipating potential difficulties.
The structure of the business plan should be thoughtful and clear. In this regard, there are certain accepted standards. You will learn the details by reading this article.
If you are interested in strategic analysis of your venture, see our services in this regard - we will evaluate your idea objectively and advise you on how to increase its chances of implementation.
A business plan does not have a single globally accepted structure. Individual copies may differ from each other. Among other reasons, if you want to use a business plan to obtain a grant or convince an investor to invest, it is important to understand what form of business plan the aforementioned entity expects. A business plan can be a few pages in volume, but there are also studies of several hundred pages. It all depends on the level of detail, and it depends on the needs of the entrepreneur or the recipient of the business plan (bank, investor, authority, etc.).
In the description of the venture it is worth describing elements such as the characteristics of the company, in addition, the organizational structure of the company, the division of responsibilities of team members with their presentation, the qualifications of the management, sources of funding for the business, planned activities including possible options for the development of the company, a description of customers and their needs.
This is the key part of the business plan. It presents the features of the product, describes who will be in charge of the business and their track record (when it's a different form than a sole proprietorship, it can be several people) and information about the owners of the company. Here is also included the general characteristics of the company or shown organizational structure. It is worth describing plans for employee recruitment and payroll policies.
The target group of potential customers is also presented here. The business plan is created in direct correlation with the needs of this group.
If the project involves an investment, such as the construction of a new factory, a technical plan, a schedule of activities, a material and financial schedule are often included. It is important to base the assumptions on factual data collected before starting to create the document.
Business market analysis is a process in which we study customer behavior, competition, market trends, as well as macroeconomic factors affecting the market, such as policies and regulations. There are different methods of business market analysis, but all are aimed at understanding customer needs, identifying gaps in the market and predicting trends.
One of the basic methods of analyzing the business market is SWOT analysis, in which we identify the strengths and weaknesses of our company, as well as the opportunities and threats in the market. Based on this analysis, we can determine the company's development strategy.
The second method of analyzing the business market is Porter's five forces analysis, which includes examining the impact of competitors, the potential of suppliers and customers, as well as the potential for new players to enter the market. This analysis identifies risks and opportunities in the market.
The most popular is market trend analysis, in which we study market trends such as customer preferences, changes in technology, as well as policies and regulations. Based on this, we can anticipate future changes in the market and adjust our business strategy.
There is no single ideal method for analyzing the business market, as each method has its own advantages and disadvantages. Therefore, many companies use several methods at the same time to get the most comprehensive knowledge of the market.
Business market analysis is essential for any company that wants to succeed in the market. That's why it's worth taking the time to learn about the various methods of business market analysis and regularly analyze the market and competitors.
The analysis of the chances of business success is also largely based on the previously realized market analysis. The external environment is no less important than the internal environment of the business.
There are companies that create professional market reports. You can buy such a ready-made study, but be ready to spend at least 10 thousand zlotys.
Competitive analysis is one of the most important elements of business strategy. It involves examining the strength of competition in the market and evaluating the strategies and actions of competitors. This allows a company to determine its position in the market, identify gaps in the market, and adjust its business strategy.
The competitive analysis process can be divided into several steps. The first step is to identify competitors in the market. You should examine companies that offer similar products or services, as well as those that operate in a similar market segment.
Next, the strength of competition in the market should be examined. One tool for this is Porter's five forces analysis, which allows you to examine the impact of competitors, the potential of suppliers and customers, as well as the potential for new players to enter the market. On this basis, risks and opportunities in the market can be assessed.
The next step is to study the strategies and activities of competitors. To do this, you need to study what products or services they offer, what prices they charge, what their business goals are, and what their strengths and weaknesses are. Based on this, you can determine what they do well and what can be done better.
An important part of competitive analysis is also to study customers' opinions of competitors. This allows you to find out their preferences and what they like about your competitors' offerings and what annoys them. On this basis, you can adjust your offerings and business strategy.
The final step in competitive analysis is to assess your own company's position in the market. You should compare your products or services with those of your competitors, assess your strengths and weaknesses, and determine what steps you need to take to increase your competitive advantage.
Competitive analysis is essential for any company that wants to succeed in the market. Thanks to it, you can identify gaps in the market, determine the best business strategy, and tailor your offerings to the needs of your customers. That's why it's a good idea to regularly conduct a competitive analysis and monitor changes in the market. Only in this way can you achieve business success and maintain your strong position in the market against the competition.
Effective sales and marketing are crucial to the operation of a company, as they are what enable it to attract new customers, increase sales and maintain a stable income. Companies that do not invest in sales and marketing often have difficulty attracting customers and increasing their reach.
Sales and marketing are also important for building a company's image and creating positive relationships with customers. Through properly executed sales and marketing, a company can effectively communicate its values, goals and offerings, which influences positive brand perception and builds customer loyalty.
With effective sales and marketing, a company can also compete effectively in the market, build an advantage over competitors and strengthen its position.
Sales and the preceding marketing should be carried out professionally from the start of the business, so as to drive profit generation. A performance monitoring system (performance audit) can be useful here. It is important that the qualifications of the management team include customer acquisition skills.
SWOT analysis is a strategic tool used in business and strategic planning that helps identify a company's strengths and weaknesses, as well as opportunities and threats in the external environment. SWOT analysis is an acronym for Strengths, Weaknesses, Opportunities and Threats. By conducting a SWOT analysis, a company can better understand its position in the market and develop strategies to help achieve its business goals. A SWOT analysis can be performed for an entire company as well as a specific project.
Within this part of the business plan (in the financial analysis), you will usually find the following elements:
Revenue estimates. Projections of future financial inflows based on estimates of market size (including production volume), sales volume, sales prices, etc.
Cost estimates. Cost projections related to the production and sale of products or services, such as material costs, labor costs (staffing plan), marketing costs, etc.
Profit forecasts. Calculations of projected profits based on revenue and cost estimates.
Cash flow projections - cash flow statement (cashflow). Cash flow estimates based on revenue and expense projections and changes in working capital.
Profitability analysis: analysis of the profitability of investments (break-even analysis), such as return on investment (ROI) or net profit to revenue ratio.
Financial plan: planning and managing a company's budget, investments and finances to achieve its business goals.
The financial part of the business plan is crucial for convincing potential investors or lenders to provide financial support for the venture. A business financial plan is usually expressed in the form of a balance sheet, income statement and cash flow. It can be said that these are a kind of financial statements, but created as projections for the future. If you don't have financial modeling skills, but need to present financials at a high level of detail and professionalism, entrust the task of making projections to professionals.
The basic information for both a classic business plan and a pitch deck (investor presentation) overlap. These include the following information:
Instead, the two documents differ significantly in form and purpose. In the case of a presentation, we are dealing with a dozen slides and a financial model in excel. A classic business plan is usually a text document of a dozen pages to several dozen pages.
Banks and authorities prefer classic business plans, while private investors have a taste for investor presentations. Before working on a business plan, determine what the expectations of the recipient of the document are.
In summary, a business plan is a key document that allows us to assess the chances of success of our business and plan the actions needed to achieve our goals. That's why it's so important that its structure is well thought out and complete, with each section accurately describing the business aspects.
Remember that a business plan will be useful for you to convince potential investors, a bank (loan) or a grant-giving institution. Getting an investor practically always requires the presentation of this kind of document. It is worth making one both for yourself (for your own purposes) and in terms of external financing. You can also treat such a document in your business as a reference point showing how and whether the previously established goals are being met. The business plan may be subject to updates.
Remember, you can do it yourself (you can find numerous tips on our blog) or entrust this task to professionals - which I strongly recommend.
The structure of a business plan is how the information contained in a document outlining a business idea is organized. It usually includes sections such as an introduction, product or service description, market analysis, marketing strategy, business plan, financial analysis and conclusion, among others.
The basic sections of the business plan are:
An introduction, which presents the business idea and the purpose of the business plan.
A product or service description that provides information about the product or service you want to sell.
Market analysis, which includes a study of competitors, potential customers and the general state of the market.
A marketing strategy that describes how you intend to promote your product or service.
An operational plan that provides information on how the business is run, including organization, personnel management and business processes.
Financial analysis, which includes revenue, cost and profit forecasts, as well as financial plans for the future.
Conclusions, which summarizes the business plan.
The most important elements of a business plan are usually a product or service description, market analysis, marketing strategy, business plan and financial analysis. These sections should contain key information about the business idea and how it will be implemented.
There is no one-size-fits-all business plan structure. The structure of a business plan depends on the specifics of the business idea and the expectations of the business plan recipient. Depending on the purpose of the business plan, its structure may vary, but it should include basic sections on product or service description, market analysis, marketing strategy, business plan, financial analysis and conclusions
