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How to write an effective Business Plan: Usable Template

Rewa Soft
How to write an effective Business Plan: Usable Template 5 NOV

Hey, Congratulations! You have an idea and want to implement it. To execute any idea, first, you need to create a well-organized business plan. Because planning done is half the work done right?

So, what exactly is a business plan? A business plan is a well written detailed document that presents the ins and outs of your business, starting from when and where you started, to defining your missions, visions and objectives,  your product or service offerings, your expertise in what you offer, your company structure, the market trend of businesses like yours, the competitive analysis, your financial information (Includes projections and forecasts), your marketing approaches and many more.

The major benefits of creating a Business Plan are:

  1. Helps to establish a major focus on your business idea
  2. Aids in fund securing
  3. Eases the operation and covers major areas of research

Okay then, to those who are new to the concept of Business Plans, there are two approaches or formats of Business Plans, the first being the Traditional Format and the second being the Lean Format.

We have attempted to describe each of the approaches in brief here.

 

  1. Traditional Business Plan format

Traditional Business plans are ideal for those who are looking for a comprehensive, detailed description of the business or are planning to seek funding from investors. It is much elaborated and consists of almost every detail about the business categorized as following:

  1. Executive Summary
  2. Company Description
  3. Market Research and Analysis
  4. Company Structure and Management Team
  5. Services and/or Products Offered
  6. Marketing and Sales Strategies
  7. Financial Projections
  8. Funding Requests (If you are seeking for Fund from Investors)
  9. Appendix

We will discuss the Traditional Format Business Plan in detail in the next Blog.

 

  1. Lean Business Plan

Lean Business Plans are the structured, concise yet informative format of Business Plans that are favorable for those entrepreneurs who want to start their business quickly, or have a simple business idea or prefer refining the plan repeatedly. Unlike Traditional Plans, Lean Business Plans consider only a few elements to describe the value proposition of the Company, its infrastructure, customer base, marketing strategies, and Finances. It reveals only the basic details of the company.

Here is an example of a Lean Business Plan for an IT Company.

Design a Beautiful Cover Page for your Business Plan. Make it formal, professional as well as appealing.

 

1. Introduction

Company ABC established in YYYY, is a sole proprietorship/ partnership/joint venture company with X percentage ownership of A, B, C. Its current location is at YOUR LOCATION.

 

1.1 Mission

“YOUR MISSION STATEMENT”

For Example:

Our mission is to fulfill the gap of communication between the service seekers and service provider i.e. us by prioritizing our clients’ satisfaction and adding value to the service.  We aim at redefining the standard of Service Sector especially in terms of IT industry.

 

1.2 Vision

“YOUR VISION STATEMENT”

For Example:

Our vision is to become a leading name in the IT Industry with a huge base of loyal clients. We see ourselves as an example of Quality Service Providers in Nepal on whom the clients depend on as their integral IT Team.

 

2. Value Proposition

Company ABC, a startup IT Company with a small team of young, vibrant and passionate Designers, Developers, Marketers and Creators has been able to root its existence in the IT industry of Nepal. To those who know us already, we are one of the best service providers with Top-Notch service quality backed up with creativity to solve the client’s requirements and Excellent Customer Support throughout the process.

 

2.1 Services Offered:

Our range of services covers all the major aspects of Internet Marketing. The services in which we have expertise are:

  1. Website Design and Re-design
  2. Web Application Development
  3. Search Engine Optimization
  4. Search Engine Marketing
  5. Social Media Management and Marketing
  6. Graphics Design and Video Making

 

3. Company Structure

Company ABC is a sole-proprietorship company operating under the leadership of Mr. ABC, also the Managing Director of the organization. He is also the Senior Executive of the Sales and Marketing Department and has the experience of working in the field for more than 12 years. The other team members constitute of graduates from the IT background, which is why we have a deeper understanding of the IT requirements of our clients and are able to deliver it qualitatively.

 

S.N.

Position

Number

1.

UI/UX Designers

2

2.

Developers

2

3.

Sales and Marketing Executives

2

4.

Administrative Manager

1

5.

Office Assistant

1

 

4. Keys to Success

Company ABC is capable of competing with the leading names in the IT industry in terms of Website Design, Web Applications Development and Digital Marketing. We are continuously learning and researching about the ongoing trends in the Digital World.

 

4.1 Continuous Learning

We strive to place our customer’s satisfaction in the first priority and have been upgrading ourselves continuously to catch up with the benchmark in the IT industry.

 

4.2 Digital Presence

Company ABC itself being an IT company uses Digital Marketing widely along with in-house sales and marketing team. Platforms like Facebook, Instagram, LinkedIn, and YouTube with its dedicated channel are the most used marketing channels Company ABC uses.

 

4.3 Loyal Customer Base

Our marketing campaigns are very recent in the long period of 7 years, which highlights the fact that we have been acquiring customers based on references made by our existing clients only because of our quality service.

 

4.4 Quality Service at Affordable Cost

At Company ABC we believe in quality service, but the sentiments of market is price sensitive. Therefore, we have managed to provide the best possible service at very affordable cost to the customers.

 

4.5 Experience and Expertise

Company ABC possesses the asset of experience as well as expertise required in the Industry. We only promise what we can deliver and have been successfully doing so. Our experience of working with many different clients and our expertise sharpened by working in many different projects are our core strengths and our keys to success.

 

5. Key Resources

The Key resources at Company ABC are:

 

5.1 Human Resources

We have a dedicated in-house team working for Company ABC. Their experience and expertise are our key resources and enable Company ABC for higher performance.

 

5.2 Intellectual Properties

Websites, Web Applications, a dedicated YouTube Channel: Company ABC, an Online media XYZ are all the intellectual properties of Company ABC.

 

5.3 Office Equipment and Electronics

Company ABC has the ownership of 10 desktop Systems, 12 Laptops, a well-furnished Office setup and a transportation vehicle.

 

5.4 Clientele Base

We have a huge client base from Nepal, the United States, the UK, Germany, Portugal, Australia and other many countries.

 

5.5 Existing Portfolio:

The portfolio section has been removed for privacy concerns. You may add your portfolio if you have any. It is not necessary for New Startups.

           

6. Customer Segments

The major customer segments of Company ABC  are the corporate houses that have resources but are not being able to systematize and automate them. We want to be their dedicated IT team as well as their business consultant wherever required.

Company ABC  will target large Governmental as well as Non-Governmental Projects which will help make the regular operations of those organizations easier and hassle free.

Our Geographical target will not remain limited within Nepal but will expand to as many countries as we can around the globe.

 

7. Marketing and Advertising Channels

Company ABC has recently started its marketing and advertising on Social Media Platforms. Until now, we have been receiving works and Projects by the recommendations of our existing clients.

 

8. Cost Structure

The salary to the staffs comprises being a Service Sector, a major share of our expenses. The other primary expenses are Rent, Internet, Server Costs, Legal Fees and other petty expenses. Addition of new systems as per the requirement may be needed.

 

A summary of monthly expenses is shown in the table:

 

S.N.

Expenses Overheads

Amount (N.Rs.)

Remarks

1.

Salary and Wages

xxxx

Monthly

2.

Rent and Electricity

xxxx

Monthly

3.

Internet

xxxx

Monthly

4.

Petty Expenses

xxxx

Monthly

 

Total

XXXX

 

 

9. Revenue Streams

The primary source of Revenue of Company ABC is its Service/Product Offerings. The need of Websites, Web Applications, Digital Marketing Services like Social Media Management, and Search Engine Optimization in the market creates opportunities for Company ABC to serve businesses and generate revenue.

We have also redefined and broadened our business offerings from Service to Products as well. We will be creating and developing web based products for the industries that have the highest need and market them at reasonable and affordable prices.

Our prices are competitive with the market rates and our clients are happy to invest because of the returns they get from our services.

 

TIP: (Add some Charts to make the Data more Effective and Informative)

 

10. Conclusion

Company ABC has been able to show a significant performance without any investment in marketing. We believe that we have the necessary capabilities to lead the IT industry in Nepal. If we are able to market our products and our services on a wide scale, we will certainly be very profitable and be able to lead the industry in terms of Quality Service.

The funding that Company ABC will receive will be exclusively used in its growth and marketing. This new step will certainly take Company ABC to a new level and redefine its existence from being a Startup to an Enterprise.

 

 

Blog By 

Rupa Karki
Team Rewa Soft