Establish some solutions to solve possible future problems
But there is much more!
The development of a business plan is essential to seek financing, partners or investors; and serves as a guide for those who are in charge of the companyCLICK TO TWEET
Well, pay attention because in this post we explain step by step how to make a business plan . And if you want to expand this content, you can download our complete GUIDE for free (you have the link at the end of the article).
What is a business (or company) plan?
The business plan is a document that allows the entrepreneur to analyze the current situation of the market, sector, and environment. The business plan collects such information and allows the entrepreneur to present his business to investors, accelerators, etc .; and explain how its startup and next steps. It is a living document that must always be updated.
The business plan, for its part, describes and analyzes the opportunities that the company has according to the viability of the sector. It also establishes the short, medium and long-term goals and expectations; well and the strategies to follow to reach them.
Why should you make a business plan?
We start by giving six reasons why every startup should have a good business plan before launching their project, there they go!
The business plan will serve as a roadmap and strategic analysis
It allows you to know the sector and the competition.
It helps you check the internal coherence of the project.
You study the technical and economic feasibility of the project.
It facilitates the communication of the idea to potential investors, partners, clients ...
A business plan serves to be able to envision the future in the short term.
As always, we encourage you to participate, so if you think you would add one more reason, tell us!
How to do a business project
8 steps to know how to make a (good) business plan
Now, here we explain what are the steps that every business plan document should include so that entrepreneurs work in the same direction, capable of leading their startup to achieve success more easily, take note!
1. Executive Summary
At this point, you should review the most important aspects that you will include in the business plan (later explained in more detail). Think that with this first point you will have to be able to capture the attention and interest of future investors, so ... go for it!
2. Product Description
This is where you will have to perfectly explain the product: its concept, origin of the idea and main characteristics. Once, those interested already know what we offer, you must specify what target it is aimed at, why and the needs that satisfy them.
3. Market and competition analysis
This point is key to our business plan . In this we will analyze, on the one hand, the market in which the product will be introduced, its size, the success factors that characterize it, what entry and exit barriers we can find, what is its evolution and natural growth, its consequent pace and current trends.
4. Business model
Here we will define the business model and financial plan, which will detail the financial agreements, the central portfolio of products or services that the organization offers and will offer based on the actions necessary to achieve the strategic goals and objectives, among other aspects. relevant.
5. Description of the team and corporate issues
It is essential to describe the human team that makes up the startup. Investors attach great importance to this point to check whether these entrepreneurs are capable of successfully conducting the business.
Regarding corporate issues, it is necessary to state what is the company's social and commercial name, its corporate purpose, the name of the founders, the share capital, specify the administrative bodies that the company has and what obligations it has the partnership with the Public Administrations.
6. Status of business development
It is important to specify here what stage the product is in, if it has been tested (application of the Lean Startup methodology ) or if there is a developed prototype, etc.
7. Marketing strategies
At this point, we will start detailing the decisions on actions and resources to be used both online and offline, which will allow us to achieve the final objectives of the company or organization, as well as specifying whether we are going to work with any communication, advertising or online marketing consulting.
8. Contingency plan
As in any new project that is launched, risks have a place and they must be counted on. Therefore, it is important that we take them into account and put them on the table in this document, in this way investors, partners ... They will be able to know from our side what the risks they would face would be.