All businesses start with a bright Idea. But it is execution that distinguishes successful entrepreneurs from the rest. And for excellence in execution, one needs to plan and strategize well.
Companies that invest adequately in planning & strategizing are the ones that execute the best. Remember, your business is your most valuable asset and therefore your business plan has to be rock solid to ensure that you not only survive in this competitive world but also emerge as a distinguished leader.
Drawing up a good Business Plan has multiple benefits.
Some of these are:
- It helps you in setting up budgets and targets for your team.
- It helps you in planning your resources requirements - be it funding, manpower, or technology.
- It helps you in defining your business objectives & resultant strategies to achieve them.
- It is the most important document required for any fund raising; be it Debt or Equity.
- It helps you in tracking your business performance, when undertaking reviews.
- A thorough planning exercise, coupled with regular reviews, helps you in strategizing corrective actions, if any.
One can derive significant benefits from a Business Plan if the same is prepared professionally.
- Some of the ingredients of a good Business Plan are:
- Executive Summary
- Company Overview
- Products and Services Offering
- Market Analysis and Plan
- Management Team
- Financial Overview
- Specific Milestones & Targets
While the above is an illustrative list, one needs to be simple, specific, realistic and should be able to provide complete information to the reader. Use of graphs, charts, ratios and photographs makes the plan document more appealing and reader friendly.
Customizing available Business Plan:
If you have a basic Business Plan in place, but would want a professional to review, amend and update it appropriately, let us know. We could even solidify it with a detailed financial forecast model and advise on additional content that should be included, considering your target audience for the plan.
Building a new Business Plan:
If you want to stand out with a unique Business Plan, we begin with a brainstorming session with you and your senior management team on the overall plan. Thereafter we research information about your company, your products/services, your industry and your competition to build the text portion of the Business Plan document. We supplement the plan with detailed financials, including sensitivity scenarios and ratio analysis to ratify various business statements. Thereafter, we also design a version of the financial model for you to track on regular basis, as your working budget file.
Building detailed Financial Model and Sensitivity Scenarios:
Under this, we prepare a detailed financial model, with options for you to undertake sensitivity testing and based on the same we design subset models for you to use as your Operating Budgets.