Anyone who is interested in running a business or has been through the process of starting one should be familiar with a term such as business plan. What does such a strategy contain? Is such a document necessary to start a business? Let's find out!
In some cases, it is compulsory, e.g. if you want to receive start-up funding. Find out how to write a business plan that covers all the assumptions of your industry and the structure of the document.
Business plan - what is it?
In answering the question of what a business plan is, it is important to start by establishing that it is a document that contains the specific objectives to be achieved by a business, as well as the way in which the business will go about achieving them. It can be likened to a map that shows the company the way to achieve its plan from a marketing, financial and operational point of view.
Creating a business plan is a multi-faceted endeavour, as it can target not only customers but also potential investors. The preparation of such a document is very useful when seeking sources of funding.
Many financial institutions require the entrepreneur to submit an action plan that he or she will implement once the money is received. This is most often the case when a company does not have a very long business history and wants to apply for a loan.
For new and would-be entrepreneurs, strategy and plans in the form of a business plan are a signpost for development and a fundamental element of growth. However, this does not mean that existing companies do not need to create and maintain such documentation.
Business plans are a very good way of focusing a company's management on an established goal. To make the most effective use of such a strategy, the document should be regularly reviewed and updated based on all available variables. 
Where to start writing a good business plan?
Wondering how to create a business plan? First of all, you need to gather all your knowledge about the business you want to develop. Characterise the market, find out about distribution planning, the creation of a supply chain or what the key risk areas are.
How do you make a business plan if you have already analysed these elements? It is certainly also useful to analyse the competition. The experience of other businesses operating in your industry, can be absolutely key. This is also the way to look for a niche in the market.
At this stage you already need to know what you will be offering customers. Whether it will be a service or a product. A clear business plan can allow you to already plan a certain time horizon, so that you can accurately estimate your chances of success.
Another part of a study such as a business plan is the elements around which customers are focused. Check their expectations and what the competition is offering in this aspect. This analysis will also allow you to draw up a list that includes the competences and skills expected of a potential employee during recruitment and employment.
Types and functions of business plans
If you want to know what a business plan consists of, the first thing you need to do is tailor the study to the needs of your business.
There are five types of business strategy:
- for start-ups,
- Internal,
- Strategic,
- operational,
- developmental.
In the start-up ecosystem, the business plan is a very important part of starting a business. Its development focuses on the section describing the company, product or service, as well as assessing the market and creating a model of the team that will be needed to achieve the goals set. For this type of business, potential investors also rely on the business plan.
The creation of an internal business plan is aimed at people who are already members of, for example, the company's management. It most often considers the operating costs or profitability of the company. It is often intended for a precise target group, e.g. the marketing team. Such internal documentation in most cases also includes a market analysis.
Strategic business plans are created in operating companies to establish new goals and strategies for the company. The structure of a strategic business plan varies from company to company, but elements such as a business vision, mission, strategy for achieving goals, critical success factors or an implementation schedule are usually included in each document. 
An operational business plan is an internal company document that consists of all elements related to the company's operations. It should include implementation indicators and deadlines for the coming year. Such a strategy should also record the responsibilities of employees for the next 12 months.
A business development strategy, also known as a development business plan, is a detailed setting of development objectives, both internal and external. In the first case, the document should include financial projections, the definition of development directions and their implementation. If such a file is to be applied externally, if only to obtain financing (a loan) for development goals, it should also include a full description of the company and management.
What a good business plan should contain - structure
Creating a good document for your business requires a structured approach. That is why it is so important to structure your business plan and follow its rules.
We can divide the different parts of the strategy into:
- synopsis,
- company characteristics,
- description of the products and services offered,
- an analysis of the company's environment,
- marketing activities,
- timetable and action plans,
- financial analysis.
This is the most important, but not the only information that must be included in the document. It may additionally be accompanied by annexes. Their number and type is not strictly defined and is decided solely by the entrepreneur.
By creating a business plan step by step, we can be sure that, in addition to the correct sequence, all the necessary information will be included. It is worth bearing in mind, however, that this document is not intended to be a ticket to obtaining funding, but a roadmap for the venture on the basis of which the objectives should be realised.
What does a properly written business plan look like based on a SWOT analysis?
Do you want to find out how to write a business plan for the Job Centre and which elements of such a study such institutions pay attention to? Then you need to learn about the SWOT analysis scheme.
SWOT stands for Strengths, Weaknesses, Opportunities and Threats. The premise of this analysis is to answer questions about the strengths and weaknesses that an entrepreneur can expect when starting a business. Opportunities and threats, on the other hand, are processed in the analysis on the basis of external factors and what might happen in the future.
An example of a business plan with a SWOT analysis could include positives relating to low competition or areas of uncertainty (or even negativity) relating to the higher expectations the customer has of the offer. In the case of opportunities, for example, one could write in the fast advertising of the product on the internet, while the threats could include low revenues, inexperience of the staff or too many targets that have a longer time horizon.
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