A business plan is a guide that highlights your business goals and outlines the way you can achieve those goals. It is a kind of roadmap for your business which sets out what you want to do and how you want to do it.
PocketLawyer is India's leading platform for fundraising services and we make the process of preparing business plan easy and hassle-free for you. In addition to Business Plan, PocketLawyer can also help you in Fundraising, Business Valuation, Business Projection and more.
Is it important to prepare a business plan?
It is not necessary to prepare a detailed business plan for every kind of business. But, every business must have some kind of plan. It is important for the following reasons.
- Defining the primary goals and objectives of your business.
- Managing the business effectively and efficiently
- Raising start-up funding
- Having a guiding map for supporting growth of business
- To have a set course of action for every possible scenario
- Managing inflow and outflow of cash
- To have an exit strategy in place
- Setting terms of agreement with partners/co-founders
- Supporting a loan application
- Preparing a roadmap for launching a new line of business or product
What does a business plan contain?
A business plan has the following components.
A. Executive Summary
The first part of your business plan. An executive summary contains introduction of your business, business details and sets out expectations from the person reading it. It highlights the problem that the business/product is trying to solve and demarcates the target market.
It is important to write an executive summary and even more important to keep it brief.
B. Company Overview
This section is needed when you are preparing a plan for third parties. For internal planning, this section is not important. Typically the shortest of all components, it highlights the following.
- Mission and vision of the company
- Legal ownership structure of the company
- Brief history of the business
- Business location
C. Products and Services
This is the most important section in the entire plan. It gives a detailed description of the problem you plan to solve and how you plan to solve it. This section also describes how your product or service is fit to survive and move ahead of the competition in the market.
It also sets out your expansion plans.
D. Target Market
This section defines your target market and the potential customers in the market.
E. Marketing and Sales Plan
This section outlines your pricing, marketing, and selling strategy. Pricing, promotion, positioning, and distribution of the product are the key factors here.
F. Business Milestones
If you have any business milestones in mind, they find a place here.
G. Management Team
This section contains a brief introduction of the team behind your business.
H. Financial Plan
It contains the following sections
- Sales forecast
- Personnel hiring plan
- Financial statements
- Manner of using the funds
It's not compulsory to include this section in your business plan. But, if there any details which could not form part of the earlier sections, you can include them here.
What is the fee?
The professional fee for preparing a business plan starts from Rs 20000.
Why choose PocketLawyer for Preparing your Business Plan?
- Experienced and qualified professionals with 12 years of average experience.
- Access to highly qualified professionals anytime, anywhere in India.
- Fixed price. No hidden fees or long-term commitment.
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What is more?
- Our dedicated support team is always there to help you with any query or issue that you may have.
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