Now yes, below 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!
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!
Product Description
This is where you will have to perfectly explain the product: its concept, origin of the idea and main characteristics. Once the interested parties already know what we offer. You must specify which target it is aimed at, why and the needs that it satisfies.
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 may encounter. What its evolution and natural growth is, its consequent pace and current trends.
Business model
Here we will define the how to create a business plan model and the financial plan. In which the financial agreements will be detailed, the core 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.
Description of the team and corporate issues
It is essential to describe the human team that forms the startup. Investors attach great importance to this point to check if these entrepreneurs are capable of carrying out the business correctly.
Regarding corporate issues, it is necessary to state what is the corporate. And commercial name of the company, its corporate purpose, the name of the founders, the share capital, specify the administrative bodies that. The company has and what obligations it has partnership with Public Administrations.
State of business development
It is important to specify here in which phase the product is. If a test has been carried out application of the Lean Startup methodology or if there is a developed prototype, etc.
Marketing Strategies
At this point we will begin by detailing the decisions about actions. And resources to be use both in the online. And offline media, which will allow us to achieve the final objectives of the company or organization. As well as specifying if we are going to work with a communication. Advertising or communication agency online marketing consultancy.
Contingency plan
As in any new project that is launch, risks have a place and must be reckon with. For this reason, it is important that we take them into account. And put them on the table in this document. In this way the investors, partners… They will be able to know from us what the risks they would face could be.
Steps to prepare a business plan in PDF
If you want to expand on these points even further, we encourage. You to download our guide on how to make a business plan step by step below.
Download guide for business plan
This guide will come in handy to make your own business plan. It is a PDF document that will be good for you to have at hand, because the business plan is something that is constantly update and that accompanies you throughout your life as an entrepreneur.
Adapt the business plan according to the recipient
Something fundamental when preparing a business plan is to take into account your recipient
It is very important that you tailor your speech to your audience. Talking to a bank is not the same as talking to the public administration or an investor. Therefore, depending on who receives your business plan, you must include some nuances or others.
- Banking. For example, if you go to a bank, make it clear how you can get your money back. A bank needs repayment guarantees, so we recommend. That you talk about the profitability of the business, the company’s properties, etc.
- Public administration. On the other hand, if you address the public administration. It is best to emphasize the objective being pursue: job creation? Development of the territory? Read the bases well, analyze your business and highlight the part that aligns with the objective of the call.
- Investors. On the other hand, if you go to a venture capital fund or a business angel because you are looking for investment. You will have to make it clear how they can get out of the business (what we call “exit” in investment). After all, they are investors, so one of the things they value. When making an investment decision is being clear about how to divest (get out of the business). Also, if you are a business angel, you may want to get involve at an executive level, so we recommend you highlight the attractiveness of your sector or business. And how it can add value.
