1. Bestride Consulting Limited: Essential Parts of Business Plan 1
Essential Parts of a Business Plan
By
Ronald Olusegun Olaiya
Managing Consultant/CEO
Bestride Consulting Limited
03/05/13

2. Executive Summary
2
 Except when it is absolutely necessary, the Executive Summary
should not be longer than one page.
 It should describe the product/service concept, and in some
cases, it should summarize the key issues in a concise manner.
 Except where it is otherwise stated, use “bullet” points (•)
rather than sentences and paragraphs—your key points will
stand a better chance of being understood and remembered.
 In many cases, this forms the most important part of the report
as many busy readers may form their basic conclusion from
this page and may never get past the Executive Summary.
Bestride Consulting Limited: Essential Parts of Business Plan 03/05/13

3. Body of the Business Plan
3
 This part contains several headings and sub-headings for your
Business Plan as well as a list of possible questions and issues
that are required to be addressed
 In some rare instances there may be overlap
 It is important to establish the relevance of such topics to the
overall business plan, otherwise they should be dropped
 Where there appears to be significant gaps in information that
you will have to address, please give it all the efforts required
to bridge such gap. Many will require only a moment’s thought
and may be addressed in a single sentence. Others may be
more demanding.
Bestride Consulting Limited: Essential Parts of Business Plan 03/05/13

4. Product/Service Description
4
 This part gives the reader a clear view of the business you are
proposing to get into.
 It contains information on its product or service and how it will
look like.
 In the course of the above, it will explain how the business will
generally fit into commercial picture.
 In short we are trying to address the question, “What is this all
about?”
Bestride Consulting Limited: Essential Parts of Business Plan 03/05/13

5. The Market
5
 This section is to give the reader a clear view of the market
opportunity for the product or service.
 It answers the question, “What is the nature, size and life span
of this opportunity?”
Bestride Consulting Limited: Essential Parts of Business Plan 03/05/13

6. Competition
6
 The purpose of this section is to give the reader comfort that
the business is in touch with reality; that it understands the
barriers to success and has a plan to overcome them
 It answers the questions, “Can this business survive in the
market that now exists? Can it survive in the market that its
success may create?”
 Keep in mind that, in the absence of obvious competition, “the
way things are done now ”can be formidable “competition.”
Bestride Consulting Limited: Essential Parts of Business Plan 03/05/13

7. Fit With Your Experience and Skills
7
 This section should give the reader a sense of how you can
make this business succeed.
 It answers the question, “What do you offer this business
venture?”
Bestride Consulting Limited: Essential Parts of Business Plan 03/05/13

8. Fit With Existing Businesses, Competence &
Assets
8
 If you are expanding an existing business, then this section
should give the reader a sense of how the current business
can help this new business succeed.
 It answers the question, “What do we have to offer this new
venture?”
 This section also identifies any negative impact the business
will have on existing products and services.
 It answers the question, “If this business succeeds, will it hurt
us somewhere else?”
Bestride Consulting Limited: Essential Parts of Business Plan 03/05/13

9. Entry Strategy
9
 This section should give the reader a clear view of how you
propose to get the business started.
 It answers the questions, “What do we have to do to be in the
marketplace?
 How are we going to get our initial paying customers?”
Bestride Consulting Limited: Essential Parts of Business Plan 03/05/13

10. On-going Operations, Technology &
Engineering
10
 This section gives the reader a sense of the technical and
operating feasibility of your business.
 It answers the question, “Can this be done?”
 Describe the functional technical requirements of the product
or service
 Is the needed technology readily available:
- internally?
- from a potential vendor or alliance partner?
Bestride Consulting Limited: Essential Parts of Business Plan 03/05/13

11. Growth & Expansion Strategy
11
 This section should give the reader a clear view of how you
propose to sustain the business.
 It answers the question, “What do we have to do to grow and
remain viable in this market?”
Bestride Consulting Limited: Essential Parts of Business Plan 03/05/13

12. Exit Strategy
12
 This gives the reader the com fort that risk is
under control.
 It answers the question, “If we are wrong, if
som ething we hadn’t counted on com up and
es
we need to get out of the business, how do we do
it without “losing our shirt” Or dam aging our
reputation?”
Bestride Consulting Limited: Essential Parts of Business Plan 03/05/13

13. Regulatory & Legal Issues
13
 This section answers the question, “Will the regulatory
authorities let us do this?”
Bestride Consulting Limited: Essential Parts of Business Plan 03/05/13

14. Resource Requirements (Human,
14
Operating, Technical & Others)
 This section gives the reader an understanding
of what resources will be required to launch and
sustain this business.
 It answers the question, “W will be our
hat
investm in resources and where will we get
ent
them ?”
Bestride Consulting Limited: Essential Parts of Business Plan 03/05/13

15. Financial Projections
15
 This section is to demonstrate a clear view of the financial
feasibility of the business.
 It answers the questions: “When will we start making money on
this venture?
 How much will we make if we meet projections?
 If we don’t meet projections?” “When and how will we be able
to pay off any loans required?”
Bestride Consulting Limited: Essential Parts of Business Plan 03/05/13

16. Near Term Action Planned
16
 This section is to answer the question, “If we
approve this loan, what will you do in the next
several m onths?”
 Describe what you plan on doing in the next 90
days should your B usiness P and loan be
lan
approved.
 W near term decisions and resources are
hat
needed to im plem your plan?
ent
Bestride Consulting Limited: Essential Parts of Business Plan 03/05/13

17. The Inescapable Reality
17
 Reality - No matter what, it’s not everybody that can afford to
access development funds/loans despite their inherent
benefits. Reasons? Answer – Stringent conditions
 Way out – All those who cannot access development loans are
advised to opt for network marketing or MLM that is usually
cheaper, at least to start with
 Those who have successfully accessed them are also advised
to take advantage of network marketing or MLM to add to their
streams of income
Bestride Consulting Limited: Essential Parts of Business Plan 03/05/13

18. Alternative Lines of Business
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Listed below are links for alternative businesses that can be
pursued by interested persons, especially for those who do
not have what it takes to access loan facilities from financial
institutions:
 http://www.sfi4.com/12058229/FREE
 http://www.tripleclicks.com/12058229/wave
 http://www.profitclicking.com/?r=56cKwzXTq0&p=opp
 https://www.profitablesunrise.com/?upline=olusegunolaiya1
Bestride Consulting Limited: Essential Parts of Business Plan 03/05/13

19. About the Author
19
 R onald Olusegun Olaiya is a M anagem ent
Consultant, Online M arketer & E ntrepreneur.
F enquiries on this write up and other business
or
interests, please contact him via
bestrideconsulting@gmail.com;
roolaiya@ ail.com or m
gm obile phone
+2348184559437
Bestride Consulting Limited: Essential Parts of Business Plan 03/05/13

20. Tags
20
Business, Business Plan, P roduct, Service,
S IM Tripleclicks, P
F G, rofit Clicking, Profitable
Sunrise, Network M arketing, M M M
L , ulti-L evel
M arketing
Bestride Consulting Limited: Essential Parts of Business Plan 03/05/13