I Need a Business Plan Written – In Simple Language

You have finally thrown your hands up in the air and said – I need a business plan written! This is because you have arrived at the roadblock where operating without a business plan is now impossible as it seems that overwhelm is taking over.

On the other hand, you could be someone who wants to start a business.

You’ve done some of the research, although you are unsure it is as thorough as it should be, but you believe you have a game plan none-the-less.

The only problem is that detail about money. Will it come from a loan or from investors? Before anyone will give you money, regardless of who hears your pitch, they will want to see your business plan!

Unfortunately, getting this done may seem like an uphill task.

This simple language article will help you understand about business plans and provide you with options on how to get a plan written.

A Business Plan – What Is It?

Think of a business plan as a document that provide answers to the type of questions anyone who may provide financing would like to know about your business.

You will not get outside funding without one, because the people giving you the funding will insist on one because it helps them to know that you’ve thought through what you’re proposing to do.

A business plan shows them… “I’ve looked at this from every angle, and here’ are my findings”….

Unfortunately, some business owners, believing themselves to be solopreneurs, decide that they really do not need financing and because of this skip the all-important step of creating a business plan.

It is only when they begin to experience high levels of overwhelm and frustration do they now seek direction and end up requiring a business plan to “course correct”.

Hence, if you have been operating without a business plan, think of it as a document that helps you critically review every area of your business in an organized manner to develop a game plan or GPS to the success of the business.

I Need a Business Plan Written  – What Should It Include?

There are several key questions your business plan must answer

Question 1 – Nature of the Business

What type of business do you plan to operate? Will this be service based, product manufacturing, product re-distribution or other kind of business?

I Need a Business plan Written
Success Does Not Come From a Glossy Business Plan

Question 2 – The Product or Service

The very first question a business plan must address is  What is your product or service?

It must explain in clear, concise language the product or service to be provided and  the reason for your choice.

Question 3 – Your Customers

Who are your customers? After you’ve explained your product or service, the next step is to identify who you plan to sell your product or service to and why.

What is the customer need or pain point you are trying to solve?

You need information about the demographics (age, sex, language, country, state or city, income, etc.) It is important that you clearly identify your customers in order to properly target your advertising, packaging, pricing, etc.

Question 4 – What Makes You Different from Your Competitors?

You must to identify the main factors that will differentiate your business from other businesses who are your competitors.

What niche are you filling that they are not, or what do you plan to do to fill a particular void in the market that you’ve identified?

Question 5 – What are Your Expenses and Financials?

Your start-up expenses include any equipment that you need before you can get up-and-running, while your day-to-day expenses are employee or contractor costs and supplies.

I Need a Business Plan Written
Sections of a Business Plan

This section includes a breakdown of both projected profit and loss per month (in graph form)for the first year in business. Show monthly expenses versus projected profit to indicate how you will pay-off your loan.

The business plan should show you making enough of a profit each month to live on. If this is not the case, then it may be considered unfeasible by banks and investors.

This point also calls for a deep review IF your business has been operating without a business plan and is now struggling.

Question 6 – I Need a Business Plan Written – Your Marketing and Sales Plan

How do you plan to market and sell the product or service? It is no use having a great product or service if you don’t know how to engage with to sell to your customers. This section requires a lot of thought

Typical Sections of a Written Business Plan

Now that you understand what should generally be included in a business plan, here are the 10 essential sections that make up a traditional business plan.

  1. Executive summary: Most important section and is written last
  2. Company description: Provides an overview of the business
  3. Products and services: Describe these in the context of the problem(s) they will solve
  4. Market Analysis: Identify customers and the available market
  5. Competitor Analysis: Identify the competition and what they offer
  6. Marketing Plan: How you plan to market the product or service
  7. Operations Plan: How the product or service will be delivered; staffing requirements
  8. Management team
  9. Financial plan: Income statement, Expenses, Projected Cash Flow
  10. References and Appendices

Following each of these sections will create a plan suited to your business. However, there is a lot of work required and the right questions need to be asked and answered. The key questions that the business owner should be able to answer have been discussed above.

Create a Business Plan – Your Options

There are 3 options available

  1. Write your own business plan
  2. Task a professional outfit to get this done with minimal input
  3. Engage a professional out who will WORK WITH YOU to create a business plan tailored to your business

It can be tempting to just want to farm off the exercise of writing a business plan as an outsourced venture with minimal input. This will not yield the best results because a business owner should be very much in-tune with all aspects of their plan.

Unfortunately, many small businesses lack the skills to write their own plans and many usually rely on the services of an experienced company like BCINC to work with them to create a business plan tailored to their small business quickly and efficiently.

We ask and answer the right questions and assist with the required but cumbersome industry and competitor research needed for a business plan.

Conclusion

In the real world, there is not a standard length to address your request – I want a business plan – written. A good business plan should be concise enough to address all the necessary questions and demonstrate a game plan for the business over 1-3 years at a minimum.

References

SBA 2022. Write your business plan. https://www.sba.gov/business-guide/plan-your-business/write-your-business-plan

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