Tool Guide
First, a business plan should be used as a guide, for management and for focus. It should guide the direction your business travels. Also, a good business plan helps you focus on realistic targets on a timely basis.
Investment Proposal
Secondly, this purpose of a business plan is to raise capital. Most lending institutions across the industry require a business plan even before considering any amount of funding.
Marketing & Communication Guide
Lastly, a business plan should serve as a communication tool that guides the development of your marketing campaign. A good business plan embodies the theme and core message of any organization.
Process
Exploration - Develop the business model and concept.
Research & Review
Framework – Develop a comprehensive outline of the business plan.
Research & Review
Content - Create a full draft of the business plan.
Financial Projections - Identify financial needs, sources of funds, and develop a 3 year financial forecast.
Research & Review
Synthesis - Review plan, make sure financial data, operating data, and marketing forecast, complement one another.
Final Delivery