BUSINESS PLAN WRITING
Do you need to raise capital for your startup or existing business?
- Do you need a highly professional business plan that will help you engage investors?
- Do you need a business plan that can help you enter new markets or introduce new products?
- Do you need to make your business idea more eligible?
- Do you need a business roadmap that is presented in a highly professional and engaging way?
A business plan will highlight areas that require attention and tools with which to monitor progress and measure current performance against targets.
Business plans have to be revised and updated as development takes place. Actual performance can then be measured against revised projections and aspirations. For example, companies can see how closely spending and income match budget and profit forecasts, and how many growth targets have been achieved. If a business begins to operate in ways not originally covered in the business plan, new standards (or benchmarks) must be introduced to measure performance.
A marketing plan sets out how you are going to put your marketing strategy into practice. The marketing plan ensures that everyone in the business knows what you are trying to do and what they need to do to make it happen.
A business plan gives an outline of your business, the market in which it will operate, and how it aims to make money. Your business plan should allow you to answer this question: why will your business succeed when so many others fail?
Business Plan package:
A. Feasibility business plan from N50, 000
B. Business plan for startups from N85, 000
C. Standard business plan from N250, 000
D. Internal business plans from N45,000
E. One page business (Business Pitch) plan from N15, 000
Internal Plans (Basic plan around 5-10 pages with ground info)
Business plans that are not usually intended for external investors, financial institutions, or any other third parties are called Internal plans. A detailed description of the organization or the management team may not be included in it. Detailed financial projections like budgets and forecasts may or may not get included in Internal plans. Instead of presenting the whole business plan in the form of paragraph text, Internal plans display the main points in the form of bullet points in slides.
Business plan for start-ups
Every start-up deserves a business plan to break out the steps and requirements with educated guesses for important lists and numbers.
The business plan for a startup is sometimes called a startup plan, but some people think all business plans are for startups, and that only startups use business plans. That’s not the case, as planning should be part of business management. The lore of the business plan is changing these days.
In most cases, a startup plan is a Lean Plan that typically includes the Lean Plan as shown above, plus projected startup costs, startup steps, and milestones. Startup costs include expenses incurred before launches, such as legal expenses, logo and graphics, websites, signage, and fixing up the office or store; plus assets required, such as starting inventory, vehicles, equipment, office furniture, and the hardest to estimate and most important—starting money in the bank.
While the Lean Plan with extra startup information is fine for most startups, when a startup requires funding from banks or investors, then its business plan looks more like the standard business plan, including a discussion of exit strategies for investors, and almost always stating the planned use of the funds required.
You can use this startup plan to discuss your options with potential partners and associates. This kind of no-frills plan is good for deciding whether or not to proceed with an idea, to help gauge whether this is a business worth pursuing. If you do decide to go into business, over time you can always go back to your business plan and make necessary edits and additions. As your business grows, you can flesh sections out and add details.
When the startup plan will be read by outsiders, it’s common courtesy to add an executive summary, a company overview, management team, and descriptions of a market, marketing plan, and product plan. Even if you don’t have the exact numbers yet, it’s always a smart idea to include a preliminary analysis of costs, pricing, and probable expenses.
One-page business plan (Basic 1 page Pitch )
Some people refer to what they call a one-page business plan. This is a one-page summary that includes highlights only, used to offer a very quick overview of a business.
It is possible to summarize the target market, business offering, main milestones, and essential sales forecast on a single page. Such a summary can be useful as a summary for banks, potential investors, vendors, allies, and employees. A one-page business plan can also be called a business pitch.
Feasibility plan (Medium type plan with no Financials, around 12-18 pages)
Some experts use the phrase “feasibility plan” to mean the same thing as a startup plan. Others use it to refer to specific steps taken to validate technology, product, or market. For example, the feasibility plan for a new kind of brick kiln might include the steps to establish a working version in a laboratory, then a small prototype in the field, and then a first working product.
A feasibility plan for a product solution for a new market might involve getting early users and validating the idea with people willing to pay money for it. In some cases a feasibility plan involves getting a product or service posted on to a site like Kickstarter or its competitors, offering the product in advance of availability to people willing to commit to buying it later.
Feasibility plans rarely include the full range of topics one would expect in a standard business plan or even a Lean Plan. They tend to be focused on whether or not a product will work or a market exists, without the additional strategy, tactics, and financial projections. However, the term is used differently by different people, so if you hear this term from someone or plan to use it yourself, it’s best to get clarification.
The strategic plan is yet another phrase that people use differently, depending on the exact context.
Usually, a strategic plan is an internal plan, but without much detail about specifics and financial projections. It generally goes into more detail on strategy and tactics than the Lean Plan does, so it has more description and explanation.
However, the strategy is useless without execution, so a good strategic plan has to take implementation into account, which means some consideration for resources and time.
As you build the strategy for your company and decide how to implement it, you will want to examine your strengths and weaknesses as a business.
What does your company do well? As your company grows, you want to play to your strengths. A strategy is often a matter of selecting the right opportunities. Resources should be funneled strategically to the areas where they will provide the biggest overall benefits.
Strategy plans are much more likely to be something for the larger enterprise, in which teams of high-level management and sometimes expensive consultants develop a broad-brush high-level strategy.
In businesses that don’t have thousands of employees, a strategy rarely exists in a vacuum and is almost always developed as part of a business plan, lean or standard. Once you have an idea of your strategy, you must have a plan for implementing it. This is where the milestones portion of the plan becomes key.
To effectively execute your strategies, it’s critical to assign responsibilities and have a schedule for following through. The implementation tactics you use will actively move you in the right direction toward achieving your goals. And that is essentially the function of a business plan.
The standard business plan (Detailed Comprehensive Investor Ready Winning Plan with all features)
The standard business plan is generally shorter these days than ever before, and it’s also as likely to be a document online as a printed document. It’s generally expected to fill the need for a business plan event, which is what we call it when a business needs to present a business plan to a bank, prospective investor, vendor, ally, partner, or employee.
The most standard business plan starts with a summary and includes sections or chapters covering the company, the product or service it sells, the target market, strategy and implementation milestones and goals, management team, and financial forecasting, and analysis. The exact order of topics is not important, but most people expect to see all of these topics covered as part of the standard plan.
A Lean Plan is a good first draft of a standard plan. Start there and add an executive summary, descriptions of company and product, detailed market analysis, and description of the strategy, main tactics, and the management team. Tactics usually appear as a marketing plan, product plan, financial plan, and management plan. Build your working sales forecast and expense budget to complete financial projections.
Those complete projections include the three essential financial projections (also called proforma statements): profit and loss, balance sheet, and cash flow. Every standard business plan needs sales plus these three essentials.
The projected cash flow is an essential part of a standard business plan. Businesses need cash to stay open, period. Even if a business can survive temporarily without profits, it still needs the cash to pay its bills. And since profits alone don’t guarantee cash in the bank, projected cash flow is essential.
Many standard plans also include a table for personal spending. Some standard plans will need additional projections to meet the needs of the specific business plan event. For example, plans for seeking outside investment should include a discussion of an eventual exit for investors, and of course the planned use of the invested funds. Plans supporting a bank loan application might include projected ratios the bank wants to see, such as debt to equity, quick, or current ratios.
A standard business plan will start with an executive summary describing the key points of your plan, and end with appendices showing monthly projections for the first year and annual projections for the second and third years. Though it is presented at the beginning of the plan, a good tip is to write your executive summary last. This way, you’ve been through the business plan writing process already and you can confidently select the highlights of your plan to showcase on the first page.
Tell us your vision, and we'll take it from there.
1. Meet Your Project Manager
Your TCS Project Manager will learn the vision and details of you and your Company and build the foundation for the work ahead.
2. Build and Review Your First Draft
With your guidance and the leadership of your Project Manager, the TCS team will build the first draft of your business plan and financial model, supported by industry-leading market research and crafted based on your vision and goals for your company.
3. Revise and Perfect Your Business Plan
Our team will provide you with the first complete draft of your plan and collaborate directly with you for a full month afterward to revise, improve, and perfect every aspect of your plan until it meets your standards.