Explain your business in a document!
Describe the results you expect, the processes and actions to be undertaken and the objectives to be achieved.
A primordial tool for structuring an idea, in a clear, consolidated, explicit and rigorous way, is a Business Plan.
This document, which explains the entire business idea, the means to implement it and the expected results, is one of the fundamental points on the path of an entrepreneur when creating a company.
The Business Plan
The structuring of a Business Plan must adapt to the business environment and the business to be focused on, however, the document must be simple, realistic, objective and complete, oriented towards actions aimed at achieving results. In this way it will be possible to present the potential of the business, without creating barriers to understanding. The Business Plan is a fundamental part of creating a company.
However, the Business Plan is not limited to the moment of incorporation of a company…
Although its main objective is to raise financing funds for a project, when creating a company, with potential investors such as Banks, Venture Capital Companies or Business Angels, this document is also a key element in other types of investments in the expansion of a business, or in the acquisition of large customers.
Thus, in addition to the so-called Start-up Plan or Early Stage Plan, development in the start-up phase, we should consider the importance of a Growth or Expansion Plan (Later Stage Plan) and a Restructuring Plan (Turnaround-Plan), which may be framed in the launch of new products or services in a company.
The Business Plan is the basis of an internal strategic planning, which will allow the team responsible for Management to raise problems and respective solutions for the weakest points of a project.
This must be seen as a dynamic and constantly updated document, so that the objectives, strategies and actions to be implemented are adequate to the business environment.
Successful Business Plan
- Make the information conveyed clear and concise. Complex and very extensive plans will be an obstacle to analysis by potential investors. Try to simplify the technical terms as much as possible and test your Business Plan, allowing it to be analyzed by people close to the business, in order to obtain suggestions and criticisms that will allow you to improve your document. The basis for creating a company that will make a difference lies in the good structuring of ideas and the business model to be implemented.
- Professional look. A first image of your Plan, which is appealing and professional, will give the recipient extra motivation to analyze the project. Good paper and graphic appearance, avoiding frequently followed blocks of text and font with little legibility are important tips, especially in a Business Plan with the objective of attracting investment from others, in the phase of creating a company.
- Team know-how. The company lives from the experience and capacity of the people who make up a team. Clearly demonstrate in the Business Plan the main assets of all the elements that make up a project.
- Strictly analyze the surrounding market and differentiating factors. Clearly demonstrate the knowledge and analysis carried out to the market in which the project will be inserted, as well as how the differentiation will be created.
- Realistic projections and presentation of business risks. Justify all the projections made, according to market size, sales volume and quota to be reached, as well as clearly demonstrate the risks inherent in the business, as no investor will believe that they do not exist! A Business Plan will give credibility to the presentation of risks and contingency plans to minimize them.
In addition to being a fundamental document, which defines the essential lines of a project/idea or business, as well as the means and resources necessary for implementation in order to achieve the proposed objectives, the development of a Business Plan has the following advantages:
- Relevant instrument to deal with changes in the internal and external environment;
- It reconciles the strategy with the business reality;
- Projects the future of a company, according to the outlined objectives;
Why conduct a Business Plan with Dual Up Consulting?
Drawing up a successful Business Plan, whether at the time of creating a company or consolidating it, is not an easy task.
With Dual Up Consulting your company will have:
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