I am going to tell you about the 3 pillars that you should know before making a Business Plan . If any of them are missing, your plan will stop being a plan and become a useless book, without any purpose.
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Put your soul when making a business plan that stands out
What you are preparing is not a piece of paper, nor a billet full of pages. It is the reflection on paper of your dream, of your business idea, of what you want your company to be in the future.
It must be very clear in the document that you know what you are talking about , that you know what you are getting into and that you have no doubts about the potential of your project.
Keep in mind that your business plan is just that, a plan . It is what Hannibal Smith would prepare and discuss with Murdock and Fénix on the plane (not with MA who would be asleep) if they were businessmen and not mercenaries of fortune.
As a good plan, it is doomed to fail because the reality will be different (100% sure), but you will have prepared yourself for different scenarios. That is the true exercise and purpose of a good business plan, a very low-cost prior training (in any case much less than actually developing your project)
Be specific when building your business plan
You don’t have to have 1,000 sheets because you do . Think about the person who is going to review your project, your plans for the future, while reviewing 10 other projects. He doesn’t have much time so he has plenty of straw.
Focus on the results to make a business plan that stands out (without falling into the story of the milkmaid)
This is the mother of the lamb. Where will all eyes go? Do your numbers hold up or are they just numbers?
It is possible that the whole part of the Economic and Financial Plan gives you the creeps and you do not want to even get close to it. However, and I link to point number 1, it is your plan, your project, your dream . And the economic and financial plan is the structure on which your dream is based .
If even you don’t believe the numbers you’re putting in and you’re blowing it up to get your project launched, you’ll be making one of the biggest mistakes of your life (and I’m not saying the biggest because we’re very clumsy and we’re always capable of outperforming ourselves in this). You are kidding yourself and you may be dragging a lot of people into the hole .
If, on the other hand, you are not paying any attention to it and you do not care what appears, you are wasting your first opportunity to start your project well because if the economic and financial plan shows weaknesses, it is your first opportunity to strengthen your business from the beginning .
IMPORTANT: How you can use a business plan that stands out to get bank financing
There are people at the head of businesses like yours who go to see the director of their financial institution with one hand in front and the other behind to ask for money. Without a plan. Without a clue. No financial forecasts.
I suggest you act smarter, with a plan. I propose you use 10 keys that will help you know what financial institutions look at before giving you financing. 10 keys that you have to include in your business plan before applying to another financial institution to ensure that you get the financing you need.
Also Read: 10 Tips On How To Avoid Mistakes In Your Business Plan