Do you have a business idea or a new product or service and you don’t know where to start to make it known? Brent Mcmahon RV, tells you how to create it and what content it has.
The business plan can be the key to being clear about the starting point and the objective. Developing a business plan is not complicated, the complicated thing is to give it the point of differentiation that makes potential investors read it and take an interest in it.
What is a business plan?
A business plan can be defined in a simple way as a document in which the economic viability of a business project is analyzed.
What is a business plan for?
We tend to think that the business plan is only used to launch a new business, but it can be useful for many other aspects such as:
- According to Brent Mcmahon RV, now our project is in-depth and sees aspects that we had not initially valued. It is not the same to think of an idea than to capture all the elements of that business in a document.
- Set goals. Setting goals for our company helps us focus on taking actions to achieve them within a certain time frame.
- Control the business. Through the business plan, we can control the business, see its weaknesses and strengths and improve.
- Attract investors. Both a start-up company and a consolidated company that wants to launch a new line of business may need financing and one way to convince potential investors that the business is profitable is to draw up a business plan.
- Apply for grants or subsidies. In many cases, to apply for public aid or subsidies, it will be necessary to present a business plan.
- Ask for bank financing. When applying for a loan to a bank for a business, one of the documents that is usually requested is the business plan.
What basic content does a business plan have?
The basic content of a business plan should include the following elements:
Description of the business opportunity. You must make it very clear that there is a need in the market and that your business or your new product or service covers it. In addition, you will have to explain what your value proposition is, how you differ from other companies in the sector.
Presentation of the team. We all like to see who is behind a project, so you will have to describe your team, their experience, and skills, as well as what they bring to the project.
SWOT analysis. SWOT analysis is essential on many occasions and in a business plan as well. It is about analyzing strengths, weaknesses, opportunities and threats.
Marketing strategy. To publicize your business idea you will have to develop a marketing strategy that gives it visibility and attracts potential customers. To develop it, you must be clear about:
- What goal do you want to achieve?
- Who is your buyer persona and what needs does he have?
- What actions are you going to take and what channels are you going to use?
What are you going to measure and how?
Production process. In the case in which you develop your product or service, you must be clear about the production process, but in the business plan, you must reveal only the essential information so that it is understood so that you protect confidential data.
Financial plan. It is one of the most important aspects. In this section, you must include elements such as:
- The initial investment you need.
- Fixed assets (equipment, computer applications, etc.
- Current assets.
- The way in which you are going to finance the project.
- The short, medium and long-term income statement.
Contingency plan. Any business can have problems due to a multitude of circumstances, but the forecast can mean the difference between the company continuing or having to close. In the contingency plan, you will be able to describe what you will do if an unforeseen event occurs that affects the company.
A well-developed business plan can help you in many ways and attract the attention of people who can promote your project. That is why it is advisable to consult with Mr. Brent Mcmahon RV, in business consulting who knows how to prepare the plan and analyze your business in-depth.