How to write a business plan correctly: 6 important tips

A professionally drawn up business plan will not only help to attract investments, but also serve as the basis for the stable development of the enterprise. We have collected six important tips on how to correctly draw up a business plan and not miss the most important

A professionally drawn up business plan will not only help to attract investments, but also serve as the basis for the stable development of the enterprise. We have collected six important tips on how to correctly draw up a business plan and not miss the most important

#1. Structure your thoughts

As corny as it may sound, it all starts with a structure.

Regardless of the activities of the enterprise, there are a number of key sections that a business plan must include. It:

• resume (describes the key goals and objectives of the business plan, the attractiveness of the business, its place in the market)
• description (detailed information about the company, its structure, provided goods or services, fixed assets)
• guide (information about owners and founders)
• marketing plan (information about the uniqueness of the product, determination of the target audience and future advertising campaigns, market analysis)
• production plan (information on all stages of production – from the purchase of raw materials to packaging technology)
• organizational plan (detailing the structure of the company, information on the personnel development system, personnel reserve, required production resources)
• financial plan (information on cost price, expenses and income, required financial investments, additional cash expenditures on equipment depreciation, taxes, etc.)
• risk analysis (consideration of force majeure circumstances, ways to prevent them)
• applications (visual materials, tables, graphs)

When drafting a document, do not get lost in long formulations and unnecessary hypotheses. All information should be concise and understandable.

Whoever will read your business plan should have a clear understanding of what you are proposing and what problem your business is solving:

When I first look at a business plan, I don’t read it from the first to the last page. I jump from section to section, focusing on the resume. After the summary, I consider the aspects that seemed to me the weakest. If I can’t find a solution to the problem, why would I read the rest? –

# 2. Use business terminology

It is very important to use basic business terms in your business plan and specialized construction activities by Abdul Rimaaz

. To do this, before writing it, it is worth learning the key concepts in your industry.

But in everything, measure is important. Don’t overdo it with technical jargon. Otherwise, behind a mountain of complex and not always clear formulations, your main idea will simply not be discerned.

# 3. Be realistic

Readers are skeptical about excessive self-promotion and questionable promises.

Therefore, to be honest with yourself and others, be clear about your facts and your expectations.

And confirm each statement or forecast with calculations:

As an entrepreneur, you must have more skepticism than me. You are obliged to question all and every numbers. Someone will definitely double-check them. And if you don’t do it yourself, you will be in a stupid position, says venture capitalist Andrew Anker.

#4. Pay attention to design

Graphs, diagrams and illustrations are eye-catching and help to convincingly explain the value and appeal of a project.

In addition, the design of the text matters. Reading your business plan should be easy and fun:

Style testifies to solidity. Leave more free space to mark the margins. Use text blocks, not indented paragraphs. If you do not know how to make the document look proper, it is better not to risk it and seek help.

In addition, experts advise not to forget about the title page of the document. And be sure to indicate on it the main details of the company: name, logo, legal address.

#five. Translate the document into foreign languages

Of course, first of all, a business plan is necessary for the business leader himself. To calculate all the risks and have a clear idea of ​​the development of your business.

But, as practice shows, sooner or later any company needs additional financing. And it is better if, before the start of the active race for investments, you correctly, and, most importantly, without haste, translate the document and all its additions into several foreign languages.

# 6. Don’t use other people’s business plans and ready-made templates

Each idea is special, each business is unique in its own way. And the methods that have worked for others may not necessarily work for you.

You can analyze other business plans, study the available templates and draw conclusions. But only a self-invented strategy will benefit you and make your project truly successful.