A business plan is seen as a formal statement of business goals. It is the reason they believed it attainable, and it is a plan for reaching the goals. It usually contains background information about the organisation and the team working together to achieve these goals.
This is regarded as a written document describing the nature of the business, sales, and marketing strategy and financial background containing a profit and loss statement.
Also, it is a road map that provides direction for planning the future of a business to avoid disappointment, inconveniences, or bumps to achieve the business goals and objectives within a set time.
Apart from these, a business plan is a kind of blueprint for business policies and strategies that help the management to focus on the areas’ problems and opportunities to move the business higher every day for profit.it
Procedures for writing a business plan
The following are the procedures for writing a business plan
- VisioIt: It deals with a certain burning desire to venture into a particular business, i.e. an item or a service to sell to others.
- Mission: This is a written declaration or business description about a particular business, or a group or an individual is committed to doing. It is usually a statement of the purpose of a business or a company, i. e. why such a business or company is established.
Objectives: These are the organisation’s plans to achieve at the end of the transaction.
Address: This is where the business is located.
Funding: This is the major source of capital for the business.
Market analysis: This is where information will be provided on the target market, customer demographics, competition, and the method of distribution. It refers to who your customers are or where you intend to sell the product.
Plan/strategy: This is talking about how you want to carry out the plan you are making or have made.
Management: The management i. e. a kind of organisation. This is talking about who your workers are and the types of officials that will work with you in the business.
Legal backing: Does your business have legal backing in case there are challenges tomorrow in the business? Issues relating to taxes, liabilities, and all other relevant information on the form of business are provided and taken care of.
Type of business: Which type of business do you want to engage in?
Business proposal: It has to do with what an organisation is planning to achieve, its customers, how to sell, and plan for the growth of the organisation.
The unique selling point: The strategies to be put in place so that the products of the organisation will be appealing to the customers are referred to as unique selling points. It centres on what the organisation can do to ensure that the product of the organisation makes a difference in the lives of the customers.
Key competitive information: This centres on the analysis of the strengths and weaknesses of the competitors and shows how to improve on their weaknesses.
Organisational structure: This is where the roles of each management staff will be spelt out. The size of the organisation will also be mentioned under the organisational structure.
Human resources requirements: This will show how the workers will also be mentioned under the organisational structure.
Non-current assets: The company’s need in terms of resources that are convertible into cash within an accounting period, and all other capital goods.
Important financial data: This is where long-term and short-term capital, potential investors, and shareholders make economic decisions.
Executive summary: This is otherwise known as a management summary. It summarises the longer report so that readers will know at a glance what the plan is all about. These are some of the comments or recommendations from the executives of the business.
SWOT analysis: You are to state the areas of strengths, weaknesses, opportunities, and threats.
A typical example of a simple business plan
We think that there is a need to draw samples after we have discussed the processes of how to write a simple business plan; the samples will give a practical insight into experimenting with what you have learned theoretically.
Therefore, it is imperative to study the simple sample of the business plan below to draw your own.
Sample 1
Name of business: BB publishers
Business location area: Zone B Unity Estate, Owode, Lagos
Phone number and email address: TK@yahoo.com, 09043786544
Service/product: publishing and printing
Mission statement: To be the first to provide printing jobs in Africa and abroad
Objectives: There will be a central printing point located in the capital city of this country. There will also be a distribution centre in each state of the country in the form of a warehouse.
There will be four sales representatives for the company throughout the nation and beyond.
Duration: Yearly
Market analysis: all companies such as schools, publishing, oil and gas companies, real estate, telecommunications, technologies, communications, businesses, etc, especially the standard ones
Market plan/strategy: Areas of strengths, weaknesses, opportunities, and threats,
Management: You are to mention who you are working with and their functions.
Legal backing: Lawyer Adebisi
Executive summary: comment
The second sample of a simple business plan is written below. You can study them.
Sample 2
Sam Name of business: Adeayo Group
Business location area: 28, Omolade Estate, Ibadan, Oyo State, Nigeria
Phone number and email address: adelasames@gmail.com, 07032737483
Service/product: Service provider/Consultancy
Mission statement: Covering Nigeria and beyond
Objectives: There will be central service providers throughout our company throughout the nation. There will be four sales and service representatives for the company that will take care of each zone, namely, North, East, South, and West.
Duration: Yearly
Market analysis: all companies, such as schools, publishing, oil and gas companies, real estate, telecommunications, technologies, communications, businesses, etc.
Market plan/strategy: Areas of strengths, weaknesses, opportunities, and threats,
Management: You are to mention who you are working with and their functions.
Legal backing: Lawyer Okoh
Executive summary: comment
Conclusion
We have discussed how to write a simple business plan and some typical samples that will guide us practically to do our own.
We strongly believe that this article will be beneficial to us in writing or mapping out a simple business plan for a contract and business. Read the similar post on this page.
adminate
Editors
