What is a Business Plan and What Management Can Expect?

What is a Business Plan

A business plan is a written document that outlines the proposed or existing business, its products or services, how it will earn revenue, leadership and staffing, financing, operations model, and other details.

A business plan is a comprehensive document that outlines the overall strategy and operational plans for a business. It typically includes information on the company's products or services, target market, competition, financial projections, and management team.

Purpose of Business Plan

The purpose of a business plan is to provide a roadmap for the company's growth and success, and it is often used to secure funding from investors or lenders.

Components in Business Plan Reporting

• The Executive Summary is the first part of a business plan and it gives a brief overview of the entire plan. It should be written last after the rest of the plan is completed.

• Company Description provides a detailed overview of the company, including its history, ownership, and legal structure.

• Market Analysis is the process of researching and analyzing the industry, market, and competition for a business. It includes information on the size and growth of the market, target customers, and competitors.

• Organization and Management describe the structure of the company, including ownership and management. It should also include information on key personnel and their qualifications.

• Products and Services provides a detailed description of the products or services offered by the company, including information on how they are developed, produced, and marketed.

• Marketing and Sales Strategy outlines the plans for promoting and selling the company's products or services. It should include information on pricing, distribution, promotion, and sales activities.

• Financial Projections estimate the financial performance of the company over a period of time, usually 3-5 years. It includes income statements, balance sheets, and cash flow statements.

• The appendix usually contains additional information, such as resumes of key personnel, legal documents, and other supporting materials.

Overall, a business plan should be detailed, well-researched, and realistic, and it should be reviewed and updated regularly as the business grows and evolves. At Coreinfo we support companies in the development of business plans.