BUSINESS PLAN

Turn your dreams into a business plan and your

business plan into a profit

Why do I need a Business Plan?

• Focus your efforts, set objectives and direction

• Spot potential pitfalls

• Set realistic targets

• Track your growth

• Financial forecast

Business Plan Essentials

• Executive Summary

• Business Details

• Market Anaysis

• Competitive Analysis

• Financial Budgets & Forecasts

Executive Summary

• Most important section of a business plan.

• This section briefly tells your reader where your Business is, where you want to take it, and why your business idea will be successful.

Executive Summary

What to include

• Your business's name and location

A simple explanation of your business concept

• Proof that there is a market for your product or service

• Summary financial data that is realistic, accurate and compelling

Executive Summary Tips

• No more than 2 pages

• Include everything that you would cover in a 5 min interview

• Make it enthusiastic, professional, complete and concise

• Do not use ‘ifs’, do not write ‘we could’, write ‘we will’

• Remember, your Executive Summary will be the last thing you write

Business Details

This section should explain who you are, how you operate and what your goals are.

Explain the background to your business idea

Business Details

What to Include in Your Company Description

• Nature of your business

• Explain your products and services

• Business Structure

• Current stage

Business Details Tips

When you're writing about the passion and excitement that led you to start your business, it can be easy to get carried away and use more words than necessary to get your point across.

Once you've drafted your company description, go back and cut out any unnecessary parts or duplicate information to make it clear and concise.

Market Analysis

The market analysis section of your business plan should illustrate your industry and market knowledge as well as any of your research findings and conclusions.

Market Analysis What to Include

• Describe your market in general terms that are relevant to your business.

• Identify what type of customer you are targeting and their trends and include figures and predictions for future growth.

• Describe the market research you have done

• Describe your business' role in the market and its advantage over competitors

Market Analysis Tips

• If you do not know your market, you cannot create a viable plan, so do your homework.

• Identify consumer needs that the competition does not cater for, and make sure these are highlighted clearly

Competitive Analysis

• SWOT Analysis

• Analysis of the Competition

• PESTLE Analysis

Competitive Analysis • SWOT Analysis

Competitive Analysis • SWOT Analysis

Competitive Analysis

The Competition - You need to know:

• What markets or market segments your competitors serve;

• What benefits your competition offers;

• Why customers buy from them;

• And as much as possible about their products and/or services, pricing, and promotion.

PESTLE Analysis

• Political

• Economical

• Social

• Technological

• Legal

• Environmental

PESTLE Analysis

Financials

Financial Projections

Cashflow Forecast

Profit/Loss Projection

Balance sheet Projection

Thank you

www.accountancyplace.co.uk

For further information contact Saeed

T 07904438688 / 01614083786

E saeed@accountancyplace.co.uk