It's a strategic document outlining the comprehensive framework of a business venture, highlighting objectives, strategies, market analysis, and financial aspects, essential for business management and seeking funding.
The business plan constitutes an essential document for outlining an entrepreneurial project, specifying strategies, objectives, sales criteria, forecasts, and marketing strategies. It serves as a strategic guide within the company and represents an important tool for requesting financing and capital. Typically, the business plan has an expected duration of 3-5 years and is regularly updated based on the data and results obtained over time.
The business plan generally consists of two complementary parts: a descriptive part and an economic-financial part. In the descriptive section, the entrepreneurial project, target markets, company objectives, operational strategies, corporate structure, and involved partners are outlined. A feasibility study is also conducted to identify possible competitive advantages over competitors. The economic-financial section, on the other hand, includes profitability projections for the project and all related financial aspects.
There is no standard model of a business plan universally applicable to all companies. This document is personalized and developed tailor-made for a single entrepreneurial idea, thus distinguishing it from other existing realities. Since each project is unique, it is fundamental that every detail is carefully considered and included in the business plan. However, it is possible to outline a common structure that the document must follow.
This section of the business plan presents the entrepreneurial idea succinctly, which will be subsequently examined and developed in detail. It serves as an introduction to the project, outlining the structure of the business plan to ensure clarity and coherence from the outset. It is essential that this section is precise, original, and concise, in order to capture the reader's attention, especially if it is an investor or financier.
Within it, the following are included:
A brief description of the entrepreneurial idea
Company objectives
Target markets
The text must be accurately drafted with linguistic correctness, supported by realistic and specific data.
This section of the business plan provides a comprehensive and detailed description of the company, including objectives, strengths, and weaknesses.
Founders or partners of the company are indicated here, along with managers, accompanied by their respective resumes and experiences contributing to the company's profitability and risk mitigation.
At the core of the entrepreneurial idea, the distinctive characteristics of the proposed products and/or services are detailed, highlighting the competitive advantage in the industry and market availability.
A thorough analysis of the company's positioning compared to main competitors is conducted here, emphasizing opportunities for goal achievement.
Marketing strategies to reach the customer are outlined, specifying distribution channels and promotional tactics.
The actions necessary to achieve company objectives are listed here, with precise indication of timelines.
Estimated capital needed to launch the idea is inserted here, including the total amount required, guarantees offered to investors, and capital utilization times.
This section outlines the expected financial resources to support the implementation of the entrepreneurial idea.
The business plan alone is not sufficient. It is necessary to attach some additional documents that demonstrate the feasibility of the business project. Specifically:
Founder or partners' resumes
Financial situation of each partner, to assess the possibility of meeting any capital returns
Quotes proposed by various suppliers
Concluded or ongoing contracts for service provision, financing, leasing
Market research and tests carried out in the relevant sector.
Additionally, the following should be added:
The articles of association
The company statute presenting the partners, corporate bodies, and operating rules of the company.
Taking into account each element indicated above, it is possible to draft an accurate, comprehensive, and exhaustive business plan, suitable even for presentation to banks and other financial institutions.
It's a strategic document outlining the comprehensive framework of a business venture, highlighting objectives, strategies, market analysis, and financial aspects, essential for business management and seeking funding.
They include an executive summary, company description, market analysis, operational and financial plans, and additional documentation such as founders' resumes and relevant contracts.
Every business plan is unique and should reflect the specificities of the entrepreneurial idea, including products or services offered, target market, and suitable marketing and financial strategies.
It functions as a showcase of the entire project, capturing the attention of crucial readers such as investors or lenders with a persuasive and well-written summary of the business idea.
This part should detail the capital requirements, profitability projections, and other anticipated financial resources, providing a solid foundation for the sustainability and growth of the enterprise.
