There is a difference between a business plan and an amazing business plan. The ordinary business plan includes the required sections and can be attached to a funding application. The ordinary business plan is often ignored once adequate capital is raised, and it is seldom referenced as an important business document. The amazing business might be used to attract private funders or to support bank loan requests, but more importantly it is a critical document that reflects the entrepreneur’s strategies for starting and sustaining a successful business.
How to create an amazing business plan
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The amazing business plan goes beyond presenting an idea. It crystallizes the reason the business should exist and how it is unique from all other business. It also:
• Is well-articulated and avoids the use of general descriptions with little meaning, like “the perfect product that everyone will use”
• Describes the market problem solved
• Includes a rewards and risks analysis
• Includes strategies for minimizing the risks
• Makes reliable and reasonable assumptions
• Considers responses to potential market changes, including scarcity of resources, technological developments, changing consumer demands, etc.
• Develops sound financial projections supported by research
• Showcases management expertise
• Concisely but thoroughly presents all information needed to fully understand the business
• Describes the plans in terms the likely readers can understand without resorting to language meant to impress rather than convey information
• Thoroughly evaluates the competition and details how the business will sustain a competitive advantage
• Details required capital, investment needs, and the exit strategy for paying back investors with an agreed upon return on investment
• Is focused from page one, the Executive Summary, to the last page of financial information
• Includes supporting documents containing information fully relevant to the proposed business (avoid including “pretty pictures” that do not serve a purpose)
For a business plan to be of the highest quality, it needs to go beyond simple descriptions and become a strategic plan that guides the entrepreneur’s decision making before and after startup. It sets the business direction and identifies performance measurements, giving the entrepreneur what is needed to regularly assess how well the business is meeting its goals. The impressive and relevant business plan is constantly checked and often revised as market conditions change and customer feedback triggers a need for change.
OGS Capital consultants have the expertise required to develop and hone an amazing business plan that is also an action plan for achieving well-defined goals and objectives. Complete the short contact form when ready to initiate a process that produces an essential roadmap for achieving business sustainability.
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Illustrative business plan samples
OGSCapital’s team has assisted thousands of entrepreneurs with top-rate business plan development, consultancy and analysis. They’ve helped thousands of SME owners secure more than $1.5 billion in funding, and they can do the same for you.