BEGINNERS BUSINESS PLAN SAMPLE AND FEASIBILITY STUDY REPORT FORMAT FOR DUMMIES
It is the goal of this article to make a sample business plan for dummies and beginners, to aid them in writing their own unique one page business plan.
The success of a business does not come after it has been established. Instead, it is begins to be successful way before it even commences. Just like starting a building project, the structural designs are put in place before the foundations of the building are laid. This is exactly what a business plan is to a business.
In writing a compelling business plan, there are certain guidelines to follow. These include sections within the business plan which are very compulsory to follow, without which the business plan would just be a mere letter of texts without much meaningful input to the business venture.
The structural guidelines are;
The Executive Summary
The importance of the executive summary in a business plan can never be over stressed as it is the most important aspect of the business plan. If your business plan should be taken seriously, then this is where the real work lies. Financiers and investors pay closest attention to the executive summary as it summarizes what the entire business is all about and the viability of this business.
This contains a description of the products and services on offer and the solutions they bring about, the proposed target market, business goals, financial implications for this business and the management structure of this business.
The Company Overview
The company overview covers comprehensive information on the business with such contents as the philosophy of the business, the mission statements, the set goals, target market and the industry the business belongs to.
The Products and Services Offered
This is an important area of any business venture. The products and services rendered have to be clearly stated for easy understanding. It also should include the competitive advantage the business has in offering these products, and the problems solved by these products or services.
Also, the edge the business has by producing certain signature products unique only to the business should be clearly stated.
Management and Organization
This is crucial to business success. Here, the specific functions of each office within the business are clearly stated and the employed personnel fully qualified to handle the tasks allotted to their office. This is to ensure the seamless flow of work with minimal operational problems.
A Marketing Plan
Every good business plan should have a marketing plan that will help in the distribution of the products and services to a large client base. Without a marketing plan, a business is effectively grounded before it even starts.
The Operational Plan of the Business
Without an operational plan, business production and transactions will be shabby and unorganized to say the least. Hence a plan of its operation needs to be drafted with special interests given to the quality control. This needs to be checked to ensure consistency, as deviation from the norm will lead to the production and rendering of substandard products and services.
The Financial Review
Here, the start-up expenses are the area of focus. All the information on the money needed for the full take-off of this business venture has to be clearly stated. The assumptions behind the figures given should be adequately explained.
Also, the sources of these finances should be adequately provided. Also, if you have saved up part of the start-up money needed, this should be stated with the exact amount of money saved given.
This section dwells mainly on estimated projections which might be in yearly intervals or more as the case may be. Whatever the projection pattern, it should be done uniformly and sequentially. For example, we might say within the first year, this amount of money should have been made
Publicity and Advert Strategy
This is invaluable to any business. Because businesses thrive on customers or clients, these clients need to be informed about the products and services on offer at a particular business location.
Without information being adequately spread, potential clients will be oblivious to the presence of such a business. Hence, the strategies to be used in the spread of information regarding the activities of this business should be well laid out.
Sustainability and Expansion Strategy
This is one area that will show if this business will stand the test of time. This section should contain strategies that will ensure that the operations of the business venture are sustainable. It should contain the “how” of the business sustainability.
Also, it should also contain the strategies to be deployed to ensure the expansion of its activities. If adequately written, the business venture will be taken seriously by investors and financiers.
This sample business plan for dummies and beginners is written to aid those interested in floating a business venture but with little or no knowledge on how to construct a good one. It highlights what the contents of each section should be, with its main goal being the construction of a compelling financial plan that will be qualified for the disbursement of loans by investors.