A business plan is essential to every SME(small or meduim size enterprise) start-up. The business plan should reflect the real start-up to the latter. You never know which investor might be interested in your enterprise after you have gone shopping for funding. Apart from funding, the plan can also be like a company timetable. Where the management get to know when and how they will realize the targeted profit. At the end of the day business is about profit, if you are not making profit then its not a business, its a charity organization.
The business plan kicks of with a short overview of the business. This is known as the executive summary. In this section you get to summarize the nature of the business; describe the target market of the enterprise; describe the service or product you will be indulging in; who will run the business (partnership or limited company).
At the end of the day you will have a business plan that has the following sections
- Executive summary
- nature of the business
- Description of the market
- Description of the service
- management and ownership
- Business venture goals and Objectives
- financial information which include the following
- balance sheet for the first 6 months
- projections of the income statement
- Start up costs and expenses
the business strategies will have some aspects of;
- marketing strategies
- financial strategies
- human resource strategies.
to me one the most important marketing strategies is to create a bold and distinct business logo. consider advertising on the internet. and developing a business website.