Business Plan: A Tool To Convince

The business plan for the past two years has required entrepreneurs to adjust it to exceptional circumstances, but again, it has proven its usefulness in taking risks. The business plan is the travel companion of any creator! It describes your business plan, determines its feasibility and profitability, sets its objectives, and finally defines its needs in material, human and financial resources. It is carried out before starting the creation of a company or during the development of a new activity.

Indispensable to any search for financing, it is useful for all types and all sizes of businesses to lay down a strategy .
It will be your reference document, capable of providing complete information on the essential points of your activity. It is used to reflect and inform but also to convince .

It therefore requires concise and precise writing, highlighting the key points and your intentions.

The 9 Steps To Write A Successful Business Plan:

Step 1 – Executive Summary

1. Set the scene to arouse the reader’s interest.
2. Present the general content of your business creation project on one page.
3. Anticipate the most fallacious questions to show your mastery of the subject and enhance your project.
Tip : Define in a few words the business of your company in the title, and in the subtitle specify using generic terms: B to B, B to C, …

Step 2 – Company Profile, Management

Make A Detailed Presentation Of Your Company Through 5 Main Themes:

1. Its history: value your progress, especially through the steps taken.
2. Its legal form.
3. Its key functions (internal organization) which take into account the human / project adequacy and highlight the strengths of each: organization chart, employees in number and gender, location, shareholders, board of directors.
4. Its management: you present an essential element, the entrepreneur and his team. More particularly the skills of executives.
5. Its external environment (partners).
Tip : Include the mini CVs of your employees to show your ability to manage a team.

Step 3 – Products, Services

Present the purpose of your products / services: this involves quickly locating its stage of development, defining the scope of your product range, explaining current developments and planned changes.
Tip : supporting photos and diagrams, application example.

Step 4 – Competitor Companies And Products (Market Research)

Conduct market research . Competition represents a very important basis for comparison and strategic thinking. Who are the main players? How are they evolving? In what context ? What are the success factors, the trends? Expose the existence of a need and its translation into a solvent demand and highlight your competitive advantages. But above all, define the target clientele (Are the products or services aimed at men? Women? Children? Individuals only? Companies only? Singles? Couples? Seniors?

Are the products or services aimed at people with a certain income or are they affordable? In what geographical area will the company offer its products or services? …)

Tip : Always indicate the sources of the data you are going to use. Explain the state of the technology on which the innovativeness of the project is based.

Step 5 – Marketing Plan (Demand And Development Strategies)

Establish the Marketing Plan that allows you to target your customers: its function is to define demand and product development strategies. In fact, it is about positioning yourself in the value chain, describing your product as well as the additional services and its cost. In other words, it is the structure of the offer in terms of price and conditions, promotion and communication, as well as distribution.

Tip : you can conclude this part by showing that your product has been validated with the customer.

Step 6 – Infrastructure (Production And Management), Technology

What infrastructure do you have available to achieve your goals? Are they suitable? Evaluate your production environment (equipment, vehicles, buildings, etc.), describe your organization both in terms of production and administration and identify the changes necessary for optimal activity.

Tip : You can also develop your business goals, this will strengthen the credibility of your business. You can go so far as to estimate sales prospects.

Step 7 – Financial Management + Financial And Operational Planning (Organization Of The Means To Be
Implemented)

Explain your means of financing (internal, external) as well as their consequences (debt service, tax implications). Start by presenting the way in which the main functions of the company will be carried out, then explain the financial package as well as the schedule of operations. To convince, you must clearly identify the financial needs generated by the project, the added value creation, the sustainability of the project.

Tip : you must present tables such as the provisional income statement, the provisional balance sheet, the provisional financing plan, the treasury budget.

Step 8 – Risk Assessment (Risk / Opportunity Assessment)

Identifying the risks and indicating them in your business plan shows that you have analyzed all possible eventualities and that you have thought about the risks you take: each activity is a source of risks, it is therefore a matter of identifying them and defining the measures applicable (for example commercial development more difficult than expected due to political or economic circumstances, delay in leaving your site, etc.), show that you have anticipated the residual risks for each of the stages and mention the reactions and the ones that you would adopt in the cases cited.

Tip : Start the conclusion with a transition that will remind you of the strengths and weaknesses of your project.

Step 9 – Conclusion

After reading the conclusion, you should be able to summarize the key points of your project. Your interlocutor must also understand what you expect from him, when and what he will gain. Remember to make a checklist to make sure you haven’t overlooked anything. You must also complete an identity card of the company in which will appear your title of activity, the legal form, the date of creation, the workforce, the turnover excluding tax, the head office, the ape code , the Siret number, your contact details, the identity of the manager, the distribution of capital, the financing obtained.