If you want to start any business then you must have knowledge about that business. But if you prepare a business plan using your knowledge, then the chances of getting profit will be more.
Business plan gives you a goal and it also clears your goals. If you have knowledge about your business then it will not be difficult for you to prepare a business plan.
But if you want a guide, we are here to help you. In this article we will talk about how to make a business plan.
Learn also: how to start business
Why are business plans important?
Before we tell you how to make a business plan, you should know why a business plan is necessary and how it benefits your business.
Several factors determine the need for a business plan, some of which are:
- A business plan is essential for getting funding for the business.
- Business plan clears your goals.
- Business plan saves extra money from being wasted and helps in earning more profits.
- Business plan helps to prepare a great marketing strategy.
- It tells whether your new assets are needed or not.
- Helps to set Objectives for Managements.
- Helps to connect the right people to the business.
Learn also: how to make business successful
How to make a business plan? How to make business plan in Hindi
The speed of achieving success in business depends on your business and your strategy, but in today’s competition era, starting a business without a good business plan is nothing more than stupidity.
In whatever field you are going to start a business, if you have knowledge of it, then making a business plan will not be difficult for you. We will tell you about the steps by following which you can prepare a great business plan.
Some of the steps you have to follow to make a business plan are as follows:
1. Executive Summary – Business Overview
If you do not know the meaning of Executive Summary, then it can also be called Business Overview in simple language. The executive summary tells about your business.
What is it, what is it related to, why will it be successful, what is its purpose, what will be its product or service, what will be the location, how will the leadership be answered in the executive summary.
Growth and financial plans are also included in the executive summary.
2. Company Description – Company Description
You must know about the company description. In this you have to give detailed information of your company. In this, you have to tell about your company, the problems that your company is going to solve.
You have to tell about them, the consumers, organizations and businesses that your company will serve, you have to tell about it and the company’s plans have to be given.
3. Market Analysis – Analysis of the market
Starting any kind of business without knowing the market is really considered a stupid thing.
If you have knowledge of the market then your business will be successful with better speed but if you do not have any idea about the market then the chances of the business being successful will be very less.
In market analysis, you have to answer questions like consumers, competitors, business strategy of the competitors, will you be able to do better than the competitor.
4. Organization and Management
A great business plan contains accurate information about the organization and management. In this, you have to answer questions like the structure of the company and who will run it.
In a way, in the business plan, you have to spread the ink of the legal structure of the company on the pages of the organization and management. That is, here you have to tell about the legal structure of your company.
5. Service or Product Line
While preparing the business plan of your business, the thing that you have to pay the most attention to is the information about the services or products being provided by the company.
In this you have to tell how your products or services will be beneficial for the customers.
This is also the explanation of your plans regarding copyright and patent filing etc. If you are doing research or any innovation for your product or service, then you can also give information about it here.
6. Marketing and Sales : Marketing and Sales
In today’s time, it is necessary to have a marketing and sales strategy for any business to get profit.
Whatever kind of business you are going to start, you have to prepare a marketing strategy for it which can fulfill your needs.
In this section of the business plan, you will have to explain your marketing strategy, sales process, facilities provided to the customer, plan to be followed to bring back the customer, etc.
Learn also: Best Ways of Business Marketing
7. Funding – Funding
If you do not have the full capital to start your business, then how you will get the funding should be clear in your mind.
Even more so, it is important to be clear that how much money will be invested in your business.
To get the funding, you need to clear your financial business goals for at least the next 5 years, that is, you should have a clear idea of how much capital you will invest in the business in the next 5 years.
All financial things like Debt, Equity and Spending will be included in this section.
8. Example Business Plan – Business Plan
You should also have an example ready to make any business plan more precise or to explain it easily for the purpose of getting funding.
Keep in mind that the business plan should be of a company that is making good profits and has made a name for itself in the market.
But your business plan should be somewhere better than that company so that you can convince the investor that you can earn more profit from that company in less capital than the capital being spent and your business as a whole. Will be stable
Learn also: Complete information related to sales in Hindi
At the end
Keeping these 8 points in mind, you can prepare your business plan. Keep in mind that if you are going to use your business plan to get funding, then you should design it in such a way that it can be easily understood by the investors and they can see the profit in your business.