“Unless commitment is made, there are only promises and hopes; but no plans” – Peter F.Drucker
Why business plan is important?
Planning is a fundamental tool to establish discipline in any venture. For this very reason, smart and mature organisations always invest resources in planning ahead. Considering the importance of business planning, banks and financial institutions also require businesses to present a business plan before they can approve a loan. Similarly, investors also require a well crafted and strong business plan enabling them to asses the opportunity and invest. No matter how good and feasible an idea is, if it does not come with a proper business plan, anyone would be hesitant to invest in such a venture.
Business plan is prepared once it has been assessed that an idea or a venture is feasible. Feasibility study is a separate exercise which is conducted before a business plan is prepared. Once it is assessed the idea is feasible, this study becomes the foundation of a business plan. To know more about feasibility study please read our section Feasibility Study.
What does a business plan cover?
There are so many types of industries and so many types of businesses that it is very hard to standardise a business plan. However, fundamentals do not change that much and generally there are following key elements in a strong business plan:
- Executive summary
- Business overview
- Vision, mission and goals
- Corporate structure & governance framework
- Market research and competitor analysis
- Sales & marketing plan
- Operational plan
- Financial plan
- SWOT analysis and Critical Success Factors
- Risk Management
When do you need a business plan?
if you want to
- Grow your business,
- be more competitive,
- be more prepared for unpredictable future,
- achieve measurable goals,
- reach out to a potential investor, or
- apply for a bank loan
You need a strong business plan !
If you want to grow, achieve measurable goals, and be prepared for unpredictable future…
Let us help you achieve this through a strong business plan.
Queensland: Brisbane, Cleveland, Logan City, Beenleigh, Gold Coast, Ipswich, Sunshine Coast
New South Wales: Sydney, Paramatta, Bayside Council (Rockdale), Shellharbour