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If you got here, it is likely that you are looking to start your own business and one of your investors, or bank, or accelerator program requested a business plan for your company... There are several formats in which this document may be prepared.The traditional one you'll come across on the web is a text document, probably 20 to 40 pages long.You will have a broader view of how to navigate the challenges of being a small business owner so you can be prepared no matter what comes your way. Therefore, you need to present to them a business plan that will show them just how you're going to achieve growth.
8- Marketing Plan or Go-To-Market Plan Defining a marketing strategy early on is very hard, but it's important to note the first and second plans the company intends to experiment with.
Summarize two or three core customer acquisition and growth strategies and a basic overview of how you plan to implement them. 10- Financial Plan The financial plan should be a detailed 12 month projection of the business cash flow, and a simpler 4-5 year projection.
6- Competitor Analysis Very much related to the SWOT Analysis mentioned above, the competitor analysis should provide a more personal review of what the company is doing, their traction and state and how the company intends to differentiate.
7- Market Analysis A market analysis is a review of the state and maturity of the market the venture intends to attack, as well as an assessment of the market size or market potential.
Let's revisit the typical structure of a business plan:1- Cover Page and Table of Contents Not a lot to add here.
2- Executive Summary The Executive Summary is usually a one-page summary of the contents of the business plan; as I mentioned above, some business plans only consist of this section.3- Mission and Vision Statement A mission statement summarizes a company's purpose in one or two paragraphs: why it exists.5- SWOT analysis The Strength-Weaknesses-Opportunites-Threats summary is a famous exercise used in business to assess the state of the industry, the market, and the competitor environment.We have a SWOT analysis template that you can try out here.As a small business owner, your focus must always be towards growth, and you can only grow as a business by having a clear plan with a specific set of objectives that you hope to achieve in the coming years.You should not neglect the importance of a business plan and how you can best present it to clients and potential investors.Again, the most common concept is this 20 or 30 page-long document that you prepare to demonstrate that the founding team has the right mindset to venture into a new opportunity.If you are a startup, especially a tech startup, then you might find some similarities between this concept and that of a 'pitch deck template.' The pitch deck, in the end, is the modern, simpler version of the traditional business plan.9- Operations Plan The operations plan is mostly a summary of your plans for the company operation: How many offices will it have? One important thing to note here is that is NOT a fundraising document, so avoid adding fundraising or round information.We hope this article had given you a clear idea of what Business Plan is.When our company raised its initial 0,000 funding, no investor ever requested a business plan; sophisticated angel investors and VCs understand that in many cases, this document is just a formality and a big waste of time.Still, a business plan is still a fantastic exercise to: TLDR; don't make one unless someone asks you for it.