How to build your business plan?

How to build your business plan?

By reading this article, you will discover how to build an effective and convincing business plan from A to Z.

In his business plan, an entrepreneur defines the vision of his future Insurance company

When creating a company, your financial partners and employees will ask you for a business plan. It is decisive for your future. What is it exactly?

The Topic of the Post

  • What is a business plan?
  • The business plan meets several specific goals, both in internal management and in communication with investors
  • What should it contain?

What is a business plan?

The business plan details the composition of the team, the company’s name, and the resources at its disposal. Finally, he explains how the company will become profitable and the innovations that await it. In short, a business plan is like a cooking recipe that adapts its ingredients to the contents of the entrepreneur’s refrigerator!

The business plan is above all designed by the founder of the company. However, when you prepare your business plan, you need to get help to maintain a less personal and more neutral view of your project. For this, you can call on your closest collaborators.

To get a step behind, reach an expert in a firm concentrating on business layouts or business conception advisers. You can mandate them “via” Agence France Entrepreneur (AFE),  for example.

A business plan is aimed at two types of readers. The creator of the company, his possible partners, and his internal collaborators are the first targets. The next objective includes outside allies (clients, suppliers, investors). They will refer to it to decide whether or not to support the project.

The business plan meets several specific goals, both in internal management and in communication with investors  :

  • help the entrepreneur to build his business. First, by analyzing its industry. Then, by showing the new value that it can bring to its customers compared to its competitors;
  • support decision-making by asking all relevant questions about the development of one’s company. For example, he determines whether his company must manufacture the product it wishes to sell itself or must instead appoint a subcontractor to manufacture it;
  • define the teams, the means, and the methods necessary to carry out the project;
  • ensure its profitability and sustainability;
  • manage to convince future partners of the credibility and potential of the project. They must also be reassured about the skills and seriousness of the team.

What should it contain?

The business plan must contain information that is rational, credible, and easy to read. In terms of form, a business plan is between 20 and 30 pages on average. To make it easier to read, ventilate your text well and include diagrams and graphics if possible. Always be intelligible and define any terms you use.

Regarding the substance, always put forward verifiable facts and demonstrate them. Your interlocutors will prefer your frankness – even if your company encounters difficulties – too vague and evasive words.

In the resolution, you must disclose to your interviewers how your plan brings growth that makes your offer appropriate in your business. And you, what is your most convincing recipe?

Do you want to go further?