How to develop a Business Plan?

Business PlansWhat are they? Why do you need them? How do they help you?

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• A framework and a roadmap for your company to operate and function, enabling you to reach definite business goals.

• A key catalyst to sharpen business focus and helps you establish benchmarks to evolve and grow.

• It helps you to define your goals and how you need to achieve them.

• Size and Scope of your plan depends on your business goals.

• A strategic document, it helps you travel from Point A (from where you are right now)

to Point B (where you want to go).

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What is a Business Plan?

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• To get an objective view of your business and have a firm grip on its rationale.

• To rally your team around your business vision/mission and drive home a single minded focus.

• To help you define your business imperatives, goals and performance standards.

• An important tool to win investor confidence, it helps you to communicate your business idea in a compelling and persuasive manner.

Why do you need a Business Plan?

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• Think & build a sound business idea, if needed, review, refine and rework on the idea.

• Do a through research, gather quality data and validate the idea’s business feasibility.

• Define your business rationale - What you plan to do?, Why are you doing it?, How you plan to do it? and Where you want to execute it (online/offline/both)?

• Include your financial model.

• What would be your business offering? Is it a product or a service? What would beits key differentiators/USP (unique selling proposition)?

• Incorporate your marketing plan and how you plan to rake in profits.

Building a Business Plan – The Framework


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• Aggressively position your product/service. Decide on the pricing based onthe target market.

• Envisage a sales plan to make your marketing strategy work.

• Be wary of competition. Mention how you would manoeuvre it.

• Include “how do you plan to evolve and develop your product or service”?

• Have a clear cut hiring strategy to recruit people and drive your business.

• Assess your risks, Mention the steps to reduce its effects & ensure biz continuity.

• Articulate how you would manage your day to day business operations.

Building a Business Plan – The Framework


• Arrest the reader’s eyeballs with a crisp and succinct summary of your companyand business.

• Showcase your company. Talk Mission, Vision, History, Business Legalities and your geographic location.

• Vividly describe your product or service. What is the problem and how your offering will solve it.

• The target market focus. Delve deep and describe it. What is competition’s activity here? Whom are you planning to displace or compete with? Be very clear.

So, How Do You Write a Business Plan?


• Success is a team effort. Mention how you and your team will bring out predictive business outcomes.

• Explain your business model. Highlight the handshake between your business model and your financial plans. Bring profitability to limelight.

• If you are presenting your biz plan to your investor describe the potential of your business and explain why it is a good investment idea.

• Articulate the milestones you intend to achieve.

• Make sure your biz plan stands out in the crowd.

So, How Do You Write a Business Plan?

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• Be open to update your business plan. Don’t be rigid.

• Be flexible with your plan. Have a plan for an year. Review it the next year, revisit the plan on a monthly/quarterly basis. Identify any shortfall. Be prepared to Rework on it.

• Look at your plan every month. Realign, Refocus, if necessary.

• Asses your progress. Be realistic. Keep achievable goals.

• Be Resolute, Be Determined.

• See your business future. Be aware of the trends around you.

Make Your Business Plan Work


Thank You


Need help in developing your Business Plan? Reach out to us.

We would be glad to assist you!

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