A Quality Business Plan is the Key to Success
One of the main steps that a business entity takes is long-term strategic planning. If your goal is to create a strong, competitive and profitable business, then a comprehensive business plan covering a description of a business idea, which will include information on production, distribution, advertising and sale of a product or service, is extremely important. A professionally prepared business plan is not only limited to attracting investments, but also plays a key role in sustainable development of the enterprise. How to prepare a business plan for long-term development? Entrust this work to us, professionals!
Does Every Business Owner Need a Business Plan?
The sphere of entrepreneurship is very diverse, but regardless of what the company produces or sells, and in which industry it operates, a business plan is an integral part of the path to success.
If you need any of the abovementioned, you must have a business plan by all means:
- To check the soundness and needs of a business idea before seeking funding and starting a business;
- To explain rationally the goals and prospects of the enterprise to employees;
- To attract banking, private and public investors to your business idea, proving that it is profitable and competitive;
The prepared business plan will help to establish and organize work tasks, realize short-term and long-term goals and determine the company’s position in the market. Therefore, a successful business plan is considered one of the main assets of the enterprise.
According to What Funds, Standards and Minimum Requirements Do We Develop a Business Plan?
- Business plans submitted to the Entrepreneurship Development Fund
- Business plans for investment promotion provided to the Ministry of Economy
- Business plans submitted to the State Fund for the Development of Information Technologies
- Business plans provided to the Mortgage and Guarantee Fund
- To Agricultural Credit Agency
- Development of business plans for Industrial Parks and Quarters
- Development of business plans for banks
- Development of business plans according to international standards for foreign investors.
Why Should You Choose Just Us?
- Company is accredited by the Consultative Program for Small Business in Azerbaijan of the European Bank for Reconstruction and Development;
- More than 30 years of experience in developing business plans;
- We have experience in developing business plans in each area of the business;
- We are confident in the knowledge and experience of our employees. Each of them is a high-level professional in their field;
- Ability to create a business based on bank transfers and payments;
- We highly appreciate the time of our clients and always submit our work on time;
Steps That are Taken in Developing a Business Plan
This work requires overcoming a long way from a business idea to developing a high-quality business plan, because the business plan contains a set of rather detailed documents describing the prospects for business development over 3-5 years. The business plan, designed in the right way, covers reasonable answers to questions about whether it is worth investing in the project and whether the business will be sufficiently profitable and competitive.
What basic principles should be considered when writing a business plan? This is described in the next section.
9-part Business Plan
Usually, when writing a business plan, changes are required in the standard template, taking into account the specific features inherent in the company. At the same time, it is important to note some principles that apply to all business areas in this business plan.
- Primary Information
The primary information of the business plan should be clear, thoughtful and consistent.
- Purpose of a business plan
- Legal form of commercial activity
- Main business activities
- Market position
- Key financial indicators
- General Information about the Enterprise
When preparing a business plan, a detailed description of the company is provided. Here is the information you need to touch upon:
- Details, structure, separation of duties, number of employees in the enterprise;
- Information about the founders and owners of the enterprise, interests in fixed capital
- Fixed assets, existing loan obligations of the enterprise
- Material and technical base of the enterprise
- If there have been any significant achievements in the history of the enterprise, they can also be noted in this section
Here you should describe the organizational structure of the company, note the information about the management. Education and experience of the management in this area can be an additional advantage in attracting investment.
- Sectoral Studies
In one of the key parts of the business plan, it is necessary to show how successfully the owner of the enterprise summarized information about the market situation, and how he/she used this information to his/her advantage. Sectoral studies include:
- Description and analysis of industry development trends, its impact on product availability
- Prospects for industry development
- Description of export potential
When writing this section, it is necessary to take into account the current economic situation and forecasts for the future, especially if a long-term business plan is being developed.
- Almost every new product or service has existing competitors. In this section, note the following:
- Potential clients
- How saturated is the market with similar offers
- Identification of the most important competitors of the enterprise, their advantages and disadvantages
- Determining a company’s competitiveness strategy
A strategy that identifies the strengths and weaknesses of an enterprise, risks and opportunities is one of the easiest and at the same time reliable ways to evaluate a business idea.
- Product / Service Features
This section is devoted to the production of a product or service. Here are some of the most important points to consider:
- Description of the production chain
- Production technology
- Raw material properties
- Supplier features and timely delivery plan
Depending on the type of production, information on patents, production capacities, necessary equipment, etc. should also be added here.
- Marketing Plan
The purpose of this section is to characterize the sales markets and the place of the company’s products in them. The marketing plan should include the following information:
- Information about the uniqueness of a product or service
- Price and discount policy
- Consumer behaviour;
- Planned advertising campaigns
The marketing plan should be designed in such a way as to convince the potential investor that the project will receive the necessary recognition and that the company will attract new customers.
- Implementation of the Planned Project
Here, you should describe what will happen to the company every month, what results are expected, and what goals will be achieved within at least 1 year. The business plan should include information on the necessary resources (buildings, equipment, licenses, and labour resources), settlements with suppliers and customers.
- Financial Planning
This section should cover estimates of earnings, gains and losses expected. Because depending on these indicators, the viability of a business idea is determined. Moreover, additional costs should be considered here. At the same time, the business plan should contain information about cash flows. To do this, it is advisable to invite a highly qualified accountant when developing a business plan.
Drawing up a high-quality business plan is a job that requires a lot of time, attention and resoluteness.