SHOW ME YOUR BUSINESS PLAN

SHOW ME YOUR (BUSINESS) PLAN 

(and I will know you are ready for business) 

“A business plan is a formal written document containing business goals, the methods on how these goals can be attained, and the time frame within which these goals need to be achieved.” Wikipedia

The way I see it, a “Business Plan” is the first product and or output of a business venture and or Company (registered or not).

How well you are able to sell your plan depends on how good it is, how good it is will also depend on how well conceived it is.

Once your first product / output is well received, it is only a matter of time before translating into finance for your business idea.

 A common problem of businesses; especially Startups ones, is “CAPITAL


“ The question of how to sources fund and how to attract investors is most likely the foremost in the mind of an average Start-up businessperson. While it is a fact that Capital, (Funding) is always and will most probably be inadequately supplied. The truth is that it is a general economic problem of demand always outmatching supply.

The problem of shortage and lack of fund is not peculiar to up and coming business start ups. However, one major problem that I see making it most difficult for business start ups to access fund is inadequate or lack of workable business plan / feasibility study.

It is more probable that a well thought out and written business plan will attract funds and investors. Therefore if you have an idea and interested in transforming the idea into business with minimal or no problem of funding, you should PUT PEN TO PAPER….,

First take out time to conceive, develop and document a robust and comprehensive feasibility survey. 

Needed an Example?
(See below an adaptable template / highlights of an average business plan).

1. The Business Prospect/ Executive Summary
a. Introduction
b. State the opportunity / Problem
c. Summarize the commercial Solution / Product(s) and or services
d. State your market Area and average population
e. State your potential buyers or consumers
f. Who are your competitors?
g. What are the constraints / limitations or problem area of this business?
h. General overview
i. Funding issues / Why applying for this particular fund and repayment options
2. Financial Projections
a. Forecast / Budget
b. Financing Needed
3. The Market
a. Market Area and population
b. Population of possible customers
c. Competitions
d. Corporate competitors
e. Products / Service Alternatives
f. Your winning strategy / the uniqueness of your product / your advantages
4. Sales Plan / Forecast
5. Operations
a. Locations and Facilities
b. Equipment and Tools
6. Company
a. Overview
b. Products, Services, departments, divisions and sub divisions
c. Registration issues
d. Management Team
e. Management Structure / organization chart
f. Management Team profile
7. Financial Statements
a. Monthly Income Statement
b. Annual Income Statement
c. Detail Expenses by Month / year
d. Projected Balance Sheet
e. Projected Cash Flow Statement
f. Sources and application of Funds
g. 3years / 5years financial summary 8. Capital Investment outlay recovery / Breakeven Point strategy or Loan recovery schedule
9. Key Assumptions

Note:

A great plan need not be too technical or requires the service of an expert / professional.

However, a good plan must preempt and address all salient issues in the intended business and seek to answer as much as possible the questions in the mind of the interested financiers.
Ensure that your introduction “executive summary” section is thoroughly written and very convincing, be practical, be simple, be detail enough.

Start to share the concept with those you think can buy into the business.

Best of luck

Oluwatoyin
November 13, 2019