your password has been reset successfully, Please login again.

Business Plan for Start-up

A business plan is a detailed file that displays core objectives of the business and how they could be achieved. Let’s find out what to include in a business plan for start-up and why is it necessary.
BY Akshay Arora
Feature Writer, BusinessEx
Oct 10,2017

You may think that it is a waste of time and you can give a speech and investors will agree but you are wrong. Having a business plan is essential. It will help you while pitching your start-up in front of investors and lenders. The plan gives a clear understanding of what a business is all about and whether it is feasible to invest in it or not. It will also help you by bringing more clarity on what you want to achieve and how you want to achieve.

The first thing to remember is that no one is interested to read a 30-page detailed plan of a business. It is better to pitch via presentation, animation, video, images, which will help you to attract more investors and lenders.

Essentials of a business plan?

These are the key points that need to be there in a business plan.

  • Executive summary of business:

    An executive summary of business helps to show the objectives, mission vision, future plans, target market, which industry your business belongs to, and all the essential elements given below in a short paragraph. Investor or interested lender sometimes want a quick review of your business which executive summary of business provides.

  • Product service offered:

    Discuss the key areas of your business like what kind of services or products your business offers, describe industry with proper analysis and display your target market on the basis of age, gender, religion, income, etc.

  • The competitive environment of the industry:

    You need to analyse the competition and its barriers in the industry. You should put more focus on how your offering is different than your competitor's. Also, analyse barriers and find solutions to overcome them. An investor and lender will always ask what your strategy is, so be prepared in advance.

  • Marketing Approach:

    After devising the market, you need to plan a strategy on how you want to approach them. Some key things that need to be there in your plan are:

    • What is your strategy to promote your business?
    • Do you plan to use paid services for promotion?
    • What is your budget for the same?
  • Production Plan:

    If you are planning to manufacture your product on your own then you will have to mention what kind of machinery and raw materials you require and from where. You will need to decide what scale of business you want and where you are planning to initiate.

  • Members of the team:

    It is significant to mention who are the members of your team and how they are contributing to this business. You will also need to figure out the job profiles that business requires to carry out the day to day operations so that recruitment could be done as per requirement.

  • Financial Projection:

    You will need to research on how much funds business requires by calculating the total costso that you could provide a definitive figure to investors. You do have to provide break-even analysis and cash flow analysis of your business. You have to make assumptions on how much profit your business can generate in a year. Investors are more attracted towards analytical data and projections, so it is better to present information figuratively.

Please add your Comment
SIMILAR Articles
December 08, 2017
The healthcare industry is growing at a rapid pace and offering a lot of small scale business opport ...More
By Akshay Arora
December 08, 2017
If a person is planning to be an entrepreneur then it is better to make an informative decision as w ...More
By Akshay Arora
December 07, 2017
Business consultation platforms are more than just guidance. These platform have become need of the ...More
By Akshay Arora
December 07, 2017
If you are a startup and still not made much impact on your growth rate then you can try these solut ...More
By Akshay Arora
December 06, 2017
It is hard to calculate the business value at each stage as the methods are different for all, so le ...More
By Akshay Arora
December 06, 2017
Corporate investment firm does not only invest money in a business but they invests a lot more which ...More
By Akshay Arora
December 05, 2017
India is a hub for education business but the era of technology and education has just begun. The ed ...More
By Aditya Malik
December 05, 2017
Finding the right investor is not a child's play, you need to be prepared and follow a procedure for ...More
By Akshay Arora
December 04, 2017
Everyone needs a mentor at different phases in business life cycle but their importance is not under ...More
By Akshay Arora
December 04, 2017
In order to expand a business finance is mandatory but raising finance for the business depends on e ...More
By Akshay Arora
December 01, 2017
Selling a business is not complex anymore but deciding when to sell is the problem. Let's see when y ...More
By Akshay Arora
November 30, 2017
Business brokers have myriad ways they help a business people to make a transaction. How they help ...More
By Akshay Arora