What is a Business Plan?
A business plan is the road map you create for your business. It provides the details on how you are going to produce and market your product or service. Everyone who starts a business should have a business plan, however the level of detail required depends on the particular purpose of the plan. If it is required in order to secure funding it will likely require significantly more detail than if it is for the entrepreneur’s own use. The information provided below presents a guide on what should be included.
Business Plan Framework
We use the following framework when we help a client prepare a full Business Plan. It is no coincidence that it is similar to the business planning framework required by most funders (investors, banks and government funding agencies). Please click here to view the details of all sections of the business planning framework.
- Overview
- Strategic Plan
- Industry and Market Analysis
- Marketing
- Operations
- Human Resources
- Financial
- Environmental
- Risk Management
- Action Plan
We would normally cover all topics in a full business plan. However we consider each client’s particular needs to determine which sections require the most effort. We are then able to tailor the plan accordingly.
Our Process
Entrepreneurs have differing needs when it comes to business planning. This is why we offer a “no obligation” meeting with each potential client to assess their needs.
We are then able to prepare a proposal for the client’s review. If necessary, the client can also use the proposal to seek funding to develop the business plan.
The proposal will outline the deliverables, the time line and the cost, as well as provide information on our firm. If we are engaged to conduct the assignment, we will then ask the client to sign a contract (i.e. acceptance of the proposal).