How to write a business plan - a step by step guide.

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A business plan is a blueprint for your business, it provides a clear road map for your business idea.

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Photo credit: Ketut

You might question what the point in writing a business plan is. If you want to avoid wasting time and money on a business idea, you need a solid blueprint for your business. That’s a where your business plan comes in. It provides a clear road map for your business idea. Many entrepreneurs develop one to help in deciding whether their idea can be implemented. These are the key points a business plan should have:   

Executive Summary

This is the make or break of your business plan. Be brief and outline the company’s purpose and goals. Don’t hype the business rather clearly state the description of what you do, how you plan to do it and the estimated growth potential. It shouldn’t be more than one or two pages in length. Keep in mind that some investors only ask for your executive summary when deciding whether to work or invest in your business, so make it stand out.

Business Model

Explain what product or service your business offers and who it is intended for. Mention what makes your business different from the rest. To do this, frame the problem and how your business is offering a solution by filling the gap. If your product is still in the creation phase, describe how you’ll finalize it to a finished product.

Operation Management

Show an organizational chart of how your business is structured. Clarify who does what in your business and what their experience is. List any key hires you’ll need to make in future if you have less staff.  

Marketing & Sales

This step may take longest to write. Get into details about specific market, market demand and your business’s role in that market. Mention target market size and growth by showing the data into how your target market makes purchases in the industry. Give an overview on how you plan to sell your product or service.   

Financial Plan

Provide information on your financial plan and projections. Even if you don’t yet have any financial data from your company, you still need to include financial projections. You can use your past financial data or analysis on the industry. Don’t forget to indicate any funding needs your business has or will have in the future.

To start you can download a Business Template here.     

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Comments

    Andfell | October 09, 2020 04:49

    Thanks this has helped

    HEZRON | October 07, 2020 15:19

    NICE

    nalukenge jamidah | October 06, 2020 14:35

    None manufacturing businesses are out! ,what of small enterprises that need a few capital to start?.

    Ellon | October 06, 2020 04:04

    What if I want to start a small business

    justine | October 05, 2020 19:07

    Thanks a lot

    Maureen | October 05, 2020 13:37

    Thanks a lot

    Nyagaka Maoya Benard | October 04, 2020 15:06

    highly appreciated

    Ruth nayoye | October 04, 2020 11:25

    It's seems to be all about big companies what about small business?

    Abaasiku | October 04, 2020 11:22

    so good and helpful

    Abaasiku | October 04, 2020 11:20

    welldone. its so much needed

    Kalenzi | October 03, 2020 06:52

    Thanks please.

    Thompstone | October 02, 2020 15:21

    This was worth reading. Thank you

    Wilfresher | October 02, 2020 06:45

    Thanks alot

    INNOCENT | October 02, 2020 04:16

    Mob of thanks

    Nahurira | October 01, 2020 18:00

    Thank you

    abiko | October 01, 2020 17:49

    this is great.it Will help a lot.thanks

    Bosco | October 01, 2020 17:48

    Great idea for us

    Ssenyonjo | October 01, 2020 17:42

    Thank u

    UNDUMA | October 01, 2020 16:13

    If all other entities could support as Fuzu, then 💯% no body would be left behind. Much thanks to Fuzu and it's staff for such kind of knowledgeable support resources. Appreciate

    Lucy | October 01, 2020 14:58

    Encouraging n thanks alot

    Odongo | October 01, 2020 14:41

    Impressive

    owekmoku | October 01, 2020 13:52

    I love this so much. Thank you

    Charles | October 01, 2020 13:29

    Thanks a lot am on board.

    Martha | October 01, 2020 11:38

    Thank you. This is very helpful information.

    A. | October 01, 2020 10:00

    Indeed it's good to have a plan because it guides you on how to move forward.

    Anne | October 01, 2020 09:51

    Thank you

    LUCY | October 01, 2020 09:10

    Thank you

    Charles | October 01, 2020 08:47

    Thanks so much for the post. It's rich with needful and relevant in formations.

    JACKLINE | October 01, 2020 08:06

    Thank you so much

    JUDE | October 01, 2020 07:15

    Many thanks

    Nale | October 01, 2020 07:12

    Thanks

    Elizabeth | October 01, 2020 06:57

    Thanks for sharing

    MWADIME | October 01, 2020 06:31

    Ibhave been looking for this ,,,,thank you, wish next time you can attach a copy of illustration

    JENNIPHER | October 01, 2020 06:10

    Thanks a lot

    ADIKIN | October 01, 2020 06:08

    Thank you very much for this useful information.

    JOSPHAT | October 01, 2020 05:52

    Good stuff

    ARINAITWE | October 01, 2020 04:36

    This information is more related to bigger companies can it help SMEs as well?

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    Kalenzi | October 03, 2020 06:56

    It can. Business ethics and principles are similar regardless the size of your capital. Actually smes need these principles more for growth.

    OGOSA | October 01, 2020 04:01

    Thsnks lot


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