It is very important to maintain flexibility of thought, not to lose Critical vision and ability to judge
Tips & important advice
GO or NO GO
You have a brilliant idea for a business, you have reached the conclusion that a breakthrough is required in your current business activity, but you don’t have a clue where to begin. We have a clear answer: always start at the beginning. Start from asking the questions; in terms of the data, the concept, the market, the capabilities and the options.
It is important that it is visually interesting; a picture of the product and/or the service may create initial interest. Usually includes the following details: company name, establishment date, copy number, contact person.
Table of Contents
It is important that it be accurate, easy to read, brief.
The most important part of your business plan! It is reasonable to assume that most of the investors will decide at this point whether it is worth continuing to read.
This part should first of all convince your investor why he must(!) invest a few more minutes of his/her valuable time. The executive summary should include the main information that strengthens your business model, written in the body of the plan. The summary should be precise and focused (not more than two pages), tangible and intriguing.
Description of the Company’s Vision
The clarity of your business’s vision will guide the reader of the plan in a clear and smooth manner. The vision should be worded briefly with simple words. A description of the goals and targets that constitute milestones in the development of the company will complete the picture of the vision.
Description of the Company
Specify when the company was established, registered name, location of the offices/factory, area of the offices, special permits, and legal permits.
Specify such relations that contribute to the company’s routine operation – with related companies, strategic partners, etc.
Product / Service Description
Explain how your product works or how your service may be used. In which markets it may be integrated? What is the added value that you offer these markets? What are those special features that make it unique?
Future Products / Complementary Products
Indicate future targets, complementary products, technological developments, etc.
Manufacture / Production / Distribution
Specify the required equipment, raw materials, work force, and distribution method.
The Market / Sector
After you have written about your business, now is the time to review the sector in which you are going to operate.
This section is critical in the business plan (we are helped by companies who specialize in market surveys to complete it) and it is worthwhile investing time and effort especially for yourself.
Determine in which sector/market you will compete? What sector’s turnover, what market share do you aim to attain? What are the latest trends in the sector? Are there sub-sectors?
This is the time to perform a comprehensive and professional market survey.
What is your business’s marketing plan based on? What will be the market penetration rate in the next few years?
Decide on your price strategy, low/high price, which target group will you aim for, above or below the competitors.
Marketing, Advertising and Sales Promotions
Your aim is to present, promote and support the product/service that you provide. This is the time to decide how you will do this and what is your budget.
Review your main direct and indirect competitors. Refer to variables such as: nature of the product, price, location, marketing strategy and distribution. Don’t be lazy. A deeper knowledge of your competitors will help you determine the correct business strategy for your business (even at this stage we are assisted by strategic partners who help us examine the market in which you operate, in depth and in a professional manner).
Try and determine which are the business’s strengths and weaknesses, the threats and the opportunities.
One of the most important parts of the plan; specifies to the investor who he is investing in.
In this section you must state who these people are that you want us to invest in them and how do they work together.
Specify why you need the money that you want to recruit. More details will increase your chance to recruit the money.
In a few brief and “knock-out” sentences, summarize the entire business plan.
If you have managed on your own until this point, it seems like you have reached the stage where you will need professional help.
This part includes:
- Detailed and explicit basic assumptions of the business plan
- A profit and loss report for the next few years
- Cash flow report
- Sensitivity analysis
Everything that you were not sure whether to put in the body of the plan and at the end you decided to add as an annex.
This part constitutes an expanding factual basis for the assumptions in the body of the plan.