A Business Plan is crucial, as it is a comprehensive strategy and plan, how you want to grow your startup and execute things in the future. Business plans are important when things are getting serious between you and the investors. Do not mess it up, Let us Help!
A business plan proposal is a comprehensive document which informs the user or reader about the business goals, what is the business about, how the founding team is planning to execute and implement future business gaols and plans. A business plan proposal assures the technical, economical and financial feasibility of the project and business you are proposing to the investor or any secondary member.
A good business plan proposal gives the reader detail picture of the business, executive summary, business strategy, products, market strategy, market analysis, industry statistics and research, Management information and strategies, financial information, projections and documents.
A business plan proposal is a very crucial document when things are getting serious with an investor or bank. A pitch deck and financial model is a brief about the business but business plan is a comprehensive document about the business, which includes everything from executive summary, market strategy, products to financial documents and projections. It’s a very important document, which includes detailed information than a pitch deck.
Make sure your business plan proposal is formal, easy to understand, to the point with a clear vision and market positioning, the facts and research should be reliable and in detail, the financial documents is correct and credible.
A good business plan is a detailed document stating the company goals and path the company is going to follow to achieve those goals.
Critical elements and structure of a Business Plan proposal is:
1. Executive Summary: a brief and clear description of the business or company, includes the problem and solution the company offers to the market. This is a formal pitch to the investor that tells the investor, why he should invest in you.
2. Company Description: this section states your company registered name, legal status of the company or startup, location, registered location, company formation details, history, mission status and company focus.
3. Market Analysis: this section is a very important section as it answers the following questions. How big the market is? Who are your customers? What is the level of competition? Who are your competitors? How are you better and unique? What is the market size and growth? A thorough market research is required to answer the stated questions.
4. Product or Services: this section tells the user about the products or services offered by the company to its users, it also states your unique selling proposition and other features which differentiates your product or service from competitors.
5. Marketing Plan: this section states how the business or company is going to market its product and services to the potential target customer, what are the plans of management regarding marketing, positioning, segmenting, advertising, promotion and branding.
6. Financial Documents and Projections: includes projected and current income statements, balance sheets, historical financial information, revenue and expenses projections, etc.
7. Funding Requirements: includes the funding required for the stated period and use of funds, how you will be using the funds in different company activities and operations.
8. Management Team: a brief desiccation about the management team and their roles and responsibilities.