How to Write a Business Plan in 12 Sections
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The document discusses the key sections of a typical business plan, including an executive summary, product/service offering, staff backgrounds, SWOT analysis, aims and objectives, market analysis, competition, advertising and promotion, pricing and costing, organization structure, startup costs, and sales and cash flow forecasts. It provides guidance on what to include in each section and notes to consider, such as keeping descriptions concise and in plain English. The overall purpose of a business plan is to define the business, goals, strategies, finances and roadmap for success.
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How to Write a Business Plan in 12 Sections
- 1. Business Planning Speaker: Carl Bradshaw Twitter: @CarlBradshaw Email: carl@bradex.co.uk
- 3. Why write a business plan?
- 5. Typical sections of a business plan Executive Summary Business Product/Service offering Background of Key Staff SWOT Analysis Aims & Objectives The Market Competition Advertising & Promotion Pricing & Costing Organisation and Control Start up Costs Sales Forecast Profit & Loss Projected Cash Flow
- 6. Executive Summary A short summary of a document often called an executive summary or management summary. It is not: An introduction War and Peace Novel Note: I usually write the summary last!
- 7. Business Product or Service Offering Clearly describe what your business or business idea is, what products or services you are looking to offer, and geographically where you will be based from. Note: Try to avoid industry wording, and keep it in plain English.
- 8. Clearly describe what your product or service is and where geographically you will sell it.
- 9. Background of key members of staff Note: Try and keep it short, cover the relevant histories and key skills of each team member – that are relevant for your business. Key Staff – are the people that make your business happen and work.
- 10. Carl Bradshaw MISM, Cert CII, Cert PFS, MIOEE Managing Director Carl has developed strong management and sales skills following a career in financial services and has been a company director since 1996. Carl is a Member of the Association of Business Mentors, a Master of the Institute of Sales Managers (MISM), a member of the Institute of Enterprise and Entrepreneurs (MIOEE) and a retired member of the Chartered Insurance Institute (Cert PFS, Cert CII, CeMap). Carl is also registered as an expert with the Manufacturing Advisory Service and Business Growth Service. In 2016 Carl was appointed Regional Head of the Association of Business Mentors in the North West, responsible for growing the professional standard of business mentoring in the North West. Accredited Mentor of the IoEE Accredited Coach for the Business Growth Service Regional Head of the Association of Business Mentors (ABM) Accredited Hoostsuite Social Media Expert Accredited Mentor for the Business Growth Hub
- 11. SWOT Analysis
- 12. SWOT ANALYSIS What makes SWOT particularly powerful is that, with a little thought, it can help you uncover opportunities that you are well-placed to exploit. And by understanding the weaknesses of your business, you can manage and eliminate threats that would otherwise catch you unawares. SWhat advantages do you and your business have? What do you do better than anyone else? What is your USP? W STRENGTHS WEAKNESSES What could you do better? What should you avoid in your business? OPPORTUNITIES OWhat opportunities can you spot in your market? What interesting trends are there in your market? How can you take advantage of technology? T THREATS What obstacles do you face? What changes in economic or regulation do you foresee? How will you manage your cash flow?
- 13. Aims & Objectives What do you want your business to do for you? Note: Short Term, Medium Term and Long Term Goals for you and your business.
- 15. Golden Rules of Goals Set Goals that Motivate You Set SMART Goals Write your Goals down Make an Action Plan Stick with it! Motivate SMART Written Action Repeat
- 16. The Market • Market • Niche • Geography • TrendsSize • Profile • Demographics • Social Economic ClassesIdeal Customer Market Size No Consumers Geography Niche
- 17. Competition A £100K £20K B £200 K £45K C £300 K £30K Notes: Who are your competitors? Where are they based? What do they turnover? What profit do they make? What makes you different? What is their USP?
- 19. Advertising & Promotion Notes: You should make a clear statement about how you intend to go about promoting your products and services. What sales channels do you intend to use? What budgets you intend to apply to each method?
- 20. Who used one of these in the last month? Yellow Pages ceased printing after 51 years in 2019 Thomson Local Directory
- 21. Who used one of these today?
- 22. Who clicks on these?
- 23. Websites
- 24. Pricing & Costing Two parts: How do you intend to charge for your products or services Your first months running costs
- 25. Pricing Model How do you intend to charge for your services?
- 26. Two most Common Methods Cost Based (Most Common) Easiest Method Considered Fair Difficult to allocate fixed costs Often sub optimal profits Value Based Requires extensive research Complicated to administer Can be considered unfair Optimal profits
- 27. Monthly Running Costs Business Insurance Vehicle Insurance Material Costs Rent/Rates Power, Light, Heat and Water Payroll Costs Telecommunications (mobile, internet etc) Admin, Postage and Stationary Motor/Travel Advertising and Promotion Legal Fees and Expenses Other Business Expenses Sundries (items under £20) Repairs and Renewals Other Expenditure
- 29. Start Up Costs What do you need to start your business? What equipment/stock are you introducing to your business? What equipment/monies are you introducing to your business?
- 30. Cash Flow 12 months projection of income and expediture
- 35. Reference: Look up Richard Denny a British business leader and author. https://www.youtube.com/user/TheRichardDennyGroup SWOT Analysis - https://www.mindtools.com/pages/article/newTMC_05.htm Competitor Analysis - https://www.entrepreneur.com/encyclopedia/competitive-analysis Pricing Models - https://hbr.org/2016/08/a-quick-guide-to-value-based-pricing