writing a business plan; why and how
Writing a business plan can be considered the most basic and important step in achieving success in the business environment. If you are looking for a successful business plan, especially on the internet, you should get to know the three main and important parts and how to write a business plan. Familiarity with this category, especially at the beginning of setting up an internet business, will save you from confusion in the business environment.
By writing a business plan, your task with yourself, prospects, realities, and goals of your business will become clear. We recommend that you follow the contents of this article until the end.
Where and how do I start to write a business plan?
How to write a business plan seems complicated at first glance, but if you know what you expect from your business, preparing a business plan is not that difficult. A business plan generally has three major and important parts, which we will describe below. Writing a business plan has three main and important steps, which we explain in the form of three basic questions:
What concept do you have in mind for your business?
Start writing the business plan bravely and carefully. Put everything you know about your business on paper. What does your business mean to you? How is your business structured? What is your perspective on it? What goals are you looking for in your business? All these things are known as business concepts in business plan writing.
How is your business market?
Continue writing the business plan in the second part with market analysis. Market research is especially valuable in the internet art business. To know who is your target community and potential customers? What reasons can encourage them to buy more from you? You can mention all your goals in attracting customers, converting a potential customer into a regular customer, and so on at this stage of writing a business plan.
How do you plan and monitor the financial status of your business?
Continue writing the business plan by checking and planning the financial situation in detail. Mention all the components related to your business’s financial activity at this stage. In this step, mention things such as the statement of financial affairs, balance sheets, short and long-term financial reports, strengths and weaknesses, and short, medium, and long-term financial goals.
What must be mentioned in writing a business plan?
Although writing a plan is not very difficult, it requires precision and elegance, and an overall look. Experienced experts in the field of business and writing a business plan have briefly mentioned several necessary components in writing a business plan. We will take a look at these items below.
First step: In writing the business plan, briefly mention the most important points
Start writing a business plan by writing your current facts and future goals. Write a practical plan and summary. Write a summary of what you have in mind. So that everyone, especially investors, can see the most important things about your business. List the issues in order of importance. First, provide an overview of your business concept.
What does your company or organization do? What product does it offer? Who is your target audience? How is the product or service you offer marketable? What plan do you have for marketing, identifying potential customers, and turning them into loyal customers? What is your current financial situation, and what are your plans for your financial future? Who are the colleagues and members of your group? In general, mention a summary of your business vision in this section.
Second step: In writing the business plan, describe your business clearly and precisely
The business plan’s writing should be so that it fully answers two basic questions: 1- What is your business? 2- What exactly are you going to do? The more accurate your answers to these two questions are, the better you will describe your business. Be sure to mention what sets you apart from other competitors.
Third step: Know and introduce your business market in the business plan.
Continue writing it with an accurate and correct analysis of your business market. Which product market do you want to dominate? What action will you take to market, find and identify potential customers and meet their needs? This section lists all of these and anything that answers important questions about your job market.
Fourth step: In writing the business plan, carefully examine and analyze the competitors
Continue writing the business plan with a detailed explanation and, of course, a summary of yourself and your team. Then, analyze the activity and presence of competitors in your business space. Analyzing competitors’ performance, if it is realistic, can clearly show your weaknesses and strengths, especially the reason for your superiority over other competitors.
Step 5: Explain what you have, your current situation, and your vision for the future.
A business plan is the most important way to introduce yourself to investors. The most important thing an investor wants to know is what progress you have made so far and what is your vision for the future. With a brief and useful explanation about your plan, the program you are considering for development, facilities, equipment, and everything you have in mind about the progress and future of your business, you can attract the positive opinion of important people.
Last step: In writing the business plan, state your situation and financial information accurately and clearly
Finish writing it by providing clear financial information. The details mentioned in this section depend on the type of your business and the investors’ view, but in general, keep in mind the profit and loss statement, the balance sheet, and especially the cash flow. Cash flow is a report that shows the amount of income and time Show the payment of expenses.
If the amount of your cash is more than the amount of output, this flow will be positive. Otherwise, it will be negative. If you are looking to attract capital, include the necessary attachments and everything attractive to the investor of your business.
