business plans
KBP : business plans



BUSINESS PLANNING SERVICES

  • Start-Up Plans: Explore the feasibility of a business dream and the requirements it will take to achieve it
  • Internal Plan: Assists the owner, manager and staff in creating a more successful business through research and analysis of current and future goals.
  • External Plan: To provide information to investors or banks showing that your business is suitable for investing or lending to.

WHY THE NEED FOR A BUSINESS PLAN?

  • To identify a market and start a new business.
  • To gain an overall perspective of an existing or proposed business and the steps needed to make it more successful.
  • To persuade investors or bankers that a business is properly designed to support a loan application.
  • To define and improve objectives and programs to achieve a successful outcome.
  • To implement regular business reviews and course corrections to discover and solve problems.
  • To define agreements between partners.
  • To evaluate a new product line, service or promotion, or to expand an existing business.
  • To purchase a new business or franchise.
  • To provide a vision for an entire company, including owners, management and staff.
  • To force the business owner to contemplate the entire scope of the business.
  • To prepare a business owner for unexpected setbacks as well as opportunities.
  • To set goals & provide a very important management tool through implementation.
  • To create a tool for regular business review and course correction

FACETS OF A BUSINESS PLAN

A business plan should prove that your business will generate enough revenue to cover your expenses and make a satisfactory return for bankers or investors. The following key points will accomplish this goal.

  • Executive Summary – Features the highlights of your plan and sells your idea in two pages or less
  • Company Summary – A factual description of your company, ownership, and history.
  • Products (or Services or both) – Describes your products and/or services and how they stand out from competitive products and services.
  • Market Analysis – Provides a summary of your typical customers, competitive landscape, market size, and expected market growth.
  • Strategy and Implementation – Describes how you will sell your product, how you will put your plan into action, and establishes milestones.
  • Management Summary- Provides background on the management team, their experiences, and key accomplishments.
  • Financial Plan- Contains key financials including sales, cash flow, and profits.

KEYS TO A SUCCESSFUL BUSINESS PLAN

  • Well thought out ideas
  • Clear and concise writing
  • Logical and understandable structure
  • Illustration of management’s ability to make the business a success
  • Depicts profitability