Steps to write a compelling business plan

What is a business plan?

A business plan is a written document which gives the overall view of a particular business. Or it could be said to be a road map towards achieving company goals. A business plan is very essential for all entrepreneurs who want their newly start or existing businesses to flourish because business plan as being proven through several interviews carried out on most successful businesses out there which many of them made me to understand that business plan is what keeps them up and running till the level they are today.

Why do we write business plan?

Actually we write business plan to benefit greatly in two things: 
  • To convince investors to fund or invest into our business.
  • To drive our businesses to success

So do know that today's article is simply to teach you how you can came up with a compelling business plan that will convince your investors.

Steps to write a business plan

1). The cover page

You have to start by designing a cover page for your business plan first. the important of having a cover page is that, it beautify your write up and also draws the reader attention.

Below are what to include when designing a cover page:
  • Company's logo
  • Business title or company name
  • Company's address 
  • Email and phone number.

2). Executive summary

This part is just about you writing brief summary about your business. Like for instance if your company is about repairing of phones.
Then you can write it this way, "paul communication is a dynamic start-up company that will provide exceptional phone repair services to the people of Kaduna state".

Simple as ABC, you can see in the above example i go straight to the point. So learn to make your executive summary Short.

3). Product and services

This part is about writing on product and services you rendered in your organization. When writing this part remember to give little description about your products and how the products will be of great help to people in the society.

4). Market analysis

This is just about the market ratio, how people have been patronizing your goods, Which specific market are you targeting. Is it adults, male or female, youth from which age --to-- so so age, Just include it there.

5). Sales and marketing strategy

Here just give the overview of how much sales you are making per day, from the day you start the business.

And also explain in detail which marketing strategy you use. Is it an online advert marketing strategy or physical marketing strategy.

6). Operation and management

This refers to day to day running of your business activities. In this part you will just explain in details how staffs/workers in your organization carried out their duties on daily basis.

7). Finance

Here you will discuss little on how/where you obtain money to finance your business.

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