What is a business plan?
A written document that describes a proposed or existing business: its products or services, how it earns revenue, its leadership and staffing, financing, operating model and strategy.
Why it matters
A business plan is a roadmap for growth. It is also the document investors, banks and funding bodies such as QDB expect to see before they commit.
What a business plan includes
- Executive summary: a brief overview of the whole plan, written last.
- Company description: history, ownership and legal structure.
- Market analysis: industry size and growth, target customers and competitors.
- Organisation and management: structure, ownership, key people and their qualifications.
- Products and services: what the company offers and how it is developed, delivered and marketed.
- Marketing and sales strategy: pricing, distribution, promotion and sales plans.
- Financial projections: income statement, balance sheet and cash flow, usually for three to five years.
- Appendix: CVs of key personnel, legal documents and supporting material.
A good business plan is detailed, well researched and realistic, and it is reviewed as the business evolves. Coreinfo Consultancy prepares business plans for start-ups, growing companies and businesses changing direction.