How to write a Business Plan in Nigeria.
We all know that, the need for a business plan in every business cannot be overemphasized. Whether you’re starting or growing your new business, writing or drafting a business plan is a must for the growth of that business.
Your Business plan will provide the roadmap to achieve the success you want. The question here now shouldn’t be IF you write your plan, but how to write a business plan that will take your company to the level you want it to go.
Business plan is simply your answer to the comprehensive list of questions. The first and most important question is this: where do you want your business to go? Stated differently, what do you want your business to look like in two, three, five or even 10 or more years? What level of income/revenues and profits do you have at that time? How many employees are employed? How many locations is the company operation on? And so on.
Below are the list of Core business plan section:
You will have to determine what is the size of your market? How big is your target market and how are they changing with time? What are currently and what will be the future trends are affecting them and do these trends well for your business in the future?
- Do your Company has a product or service to offer to the public now right? What are they and/or what will you develop and offer in the future for the growth and betterment of the company?
Determine who are your industry based competitors and what are each of their key strengths and weaknesses? In what areas of this do you have or gain a competitive advantage? And How are you going to do that?
Determine who are your perfect and target customers? What are their demographic ( age, race, level of education, sex, economic status, among others) and/or psychographic profiles? What are their needs? Can and are they ready, willing, and want your product?
Determine what are the ways and how will you reach your target customers? What promotional tactics, logistics, and marketing channels will you employ in your business? How will you place price tags for your products or services? What is the brand positioning you desire for each?
- Management Team: Determine who and who comprises your current team for the best development of your business and what key hires must you make in order to execute on the business opportunity in front of you. Are you going to build a Board of Advisors or Directors for your company? If so, who will you seek and why?
Company Operation Plan
Determine what is the proposed company your action plan? What are the areas and milestone you must accomplish to go from the current position your company/business is now to where you want it to be at year’s end? At the end of five years or more?
Determine how much external funding (if applicable) do you need to build your company? In what areas will these funds be invested and how are these areas rated according to their order of importance? What are your projected income/revenues and profits over the next one to five years of your company existence? What assets must you acquire to make your company stand?
I have given out the right Answers to the questions in these eight(8) core business plan sections which will helps you come up with specific business goals. They also help you with the best answers of the most important question to add or include when you write the Summary of your business plan for your proposed business, which is this: why is your business uniquely qualified to succeed after start up? What is the next step to take after start up?
Business plan have no unique qualifications to succeed, it will be very easy for your industry competitors to take ovet your clients or customers, market share at any time, or at worst beat your hand down in business.
So, if all your thinking right now is about how to write a perfect business plan, sit down and start answering the outlined questions above. It’s the thinking, crafting and strategizing part of business plan which is actually more important than the writing part. You can make use of the blog Contact us Page. I will help you with any type of business plan at affordable price.
If you want others, investors, sponsors, etc to read and/or fund your business, your plan has to read perfectly well and be put in the right and proper format. But it’s the content, capital analysis in the business plan that matters most, your strategy and whole reasons why you’ll succeed depends if you have a good business plan that will prompt partnership, investor, etc to invest or otherwise join you in your conquest to build a brand new thriving business!
I hope this article will help you toward developing your business plan.
Kindly make use of the comment box for questions and recommendation.