What is a Business Plan?

Prince Trust believes that every young person should have an opportunity to change their life. If you live in the UK, you can get help finding a job, get funding to train and learn and receive support for starting a business, which includes Prince Trust business plan templates and financial tables, funding and other resources, so young people can turn their brilliant ideas into reality.
Creating a business plan is the first step you can take to make your dreamы and ideas become a reality. A business plan is a document that highlights all the characteristics of the organization, analyzes possible risks and problems, and predicts methods that will help to avoid them. In other words, a business plan for an investor is, first of all, the answer to the question: “Should we finance this project at all or is it better to abandon it right away?”.

Structure and Content of the Business Plan When drawing up a simple business plan, it is necessary to identify all the advantages and disadvantages of the idea that has arisen, and only then calculate the profits and take any action. Aside from having a title page, you need to write an executive summary, which displays information about the idea of the project with significant characteristics of the financial component. In the summary, it is very important to interest the investor because the fate of your project depends on this.
The next part of the plan should be devoted to the main idea of the project. It will display the main goal, objectives, obstacles and a list of precise actions that will help you in the shortest possible time to achieve the goals. This is where a SWOT analysis is performed. Its main goal is to assess the strengths and weaknesses, opportunities and possible threats. Here, you can reflect on two sides that affect the business: the internal, which relates to the business itself, and the external - everything that is beyond its limits and impossible to influence.
Moving on to the next item, you must do a market analysis to determine the attractiveness of a market, currently and in the future, again proving the validity of your project. In the subsequent section the idea itself is revealed. This is where the level of readiness is reflected, as well as the availability of all the necessary means for this. Here, it is important to highlight the primary goals, explain in detail the idea of ​​the product, indicate the stages of its development, characterize the company and calculate the total cost of the project. Strategy and Implementation Section In this section, you need to specify what tasks the staff should perform and in what time frame. It implies the notion of a strategy, which reflects one time or sequential steps that can attract the consumer and subsequently receive good returns. These include:
  • analysis of future consumers (target audience);
  • the competitiveness of a product or service;
  • product sales opportunities;
  • information on sources of labor and number of employees;
  • the manufacturing of goods* (from production to the moment when it gets into the hands of the final buyer);
  • consumer engagement methods.

Relative only if the business will also manufacture its products. Here, it is necessary to indicate the production capacity, describe the technological process, operations for subcontractors, equipment necessary for production, the area to be allocated for production, raw materials and resources.
Organization and Management Section In the organizational plan, the principles of the strategic management of the company are developed. Even if the company is already operating, this item is still mandatory. It contains the following data:
  • the name of the legal form;
  • organization management system in the form of a chart/diagram;
  • information about the founders;
  • management team information;
  • material and technical resources of the organization;
  • location of the company.

Financial Plan Section The financial section of the business plan brings all previous sections of the business plan to one financial conclusion. The calculations made in this section of the business plan allow, in particular, to determine whether it is worth investing in a project and what the return on investment will be. This item is very important for the investor, since the attractiveness of this project is determined based on it. The financial plan is developed in the form of the following forecast financial documents:
  • financial performance forecast;
  • cash flow forecast;
  • projected balance sheet.

Business Continuity Management

Aside from creating a perfect business plan, ensuring business continuity is one of the most important strategic directions for the development of any company. This is due to the need to maintain the stability of the company and its information system in various conditions of adverse effects of external and internal factors (natural disasters and/or man-made incidents). Currently, there is a huge number of business continuity management (BCM) techniques for business continuity planning (BCP) and disaster recovery planning (DRP) to determine and improve the availability of the company's critical business processes in any situation.

Today, there is a fairly wide range of software on the market for automating the processes of planning and managing business continuity. Such software allows the use of universal database architectures to simplify risk analysis procedures and develop business recovery and business continuity plans. In addition, the software can simplify the processes of supporting current business continuity plans, synchronize and maintain up-to-date information using interfaces from other applications, and adjust the management of the company to reflect business continuity plans.

Now you know how to do (write) a business plan that will attract investors and ensure the success of your business and that you need to take it a step further to ensure that your business is not only successfully launched, but also has a thought through plan to continue running no matter what life throws at it. Remember, there are many organizations and people who will be glad to help you achieve your goals and help with planning and launching your business. Use all the help you can to ensure your success! Good luck!
Creating a Business Plan