The business plan is a fundamental business management tool, especially useful if you are thinking of launching a new brand or a business project or of giving a change to your business. Whether you need some clarification or you are an entrepreneur starting completely from scratch, here is the 2022 guide for creating a business plan that fits your business.

When do you need to create a business plan? A guide

Your goal is freelancing to supplement your monthly salary, you don’t need a business plan. If, on the other hand, you’ve chosen to embark on a more complex adventure, which could potentially occupy your days, time and resources, you absolutely need it. If launching a business is your primary job, making a professional business plan can help you a lot when you need to present the project to any collaborators or investors.

Business plan for startups

In the case of startups, a business plan helps the founders to outline future projections, budget, objectives and activities to be carried out.

In this case, therefore, the business plan focuses on the more general aspects of the company, on how and when it will reach its objectives, and why the founders are the right people for this job. Finally, it will establish the amount of money necessary to launch the business and potentially make a profit. In this cross-section, the key parts within a startup business plan are the Executive Summary and the Roadmap.

Business plan for a company that has already started

Even companies already well established and present on the market for some time must manage and guide their business in a strategic way to take advantage of new opportunities. Companies use the business plan to reinforce a strategy, establish courses of action, manage responsibilities and objectives, track results and plan the use of resources based on income and expenses. For existing companies, writing a business plan can result in a significant competitive advantage over the competition, resulting in faster growth and greater innovation.

Business plan: what it is and how it is carried out

A business plan is a document that describes in detail everything about your company. This includes your target market, opportunities, business model, team, marketing strategies, financial plan, and more. A business plan generally consists of two main sections, which we will then divide into various points and sub-sections. The first is the descriptive part, it talks about the company and its objectives. The second is the numerical part, it presents data and economic aspects that must validate the points presented in the first part.

How to make a business plan: what information to include

1. Concept

When you start writing a business plan, in the first part you have to present the company. The product and the objectives. Use this section to illustrate the reasons that prompted you to create your company austria email domain and what goals you intend to achieve.

What product or service are you offering? What are its characteristics, and what are its advantages over similar products or services offered by the competition? Remember to add any technologies used, patents or particular skills of your team that can contribute to the realization of your project to the business plan.

2. Market

To understand how to write a business plan, you need to understand how to do a market analysis. In your discussion, you will need to present the results of the survey of the sector in which you will operate, highlighting the profitability, the business model and the strategy and operational plan you intend to follow. In addition, you will also need to analyze who your prospects are and what their demographic, geographical and psychographic characteristics are. Once these aspects are outlined, it is necessary to move on to the description of your marketing strategy.

3. Finance

The final part of your business plan is to analyze the financial aspect of your business. What kind of investments do you foresee for the development of your business? What kind of machinery, equipment, software will you need in the next few years to run your business?

Try to be as specific as possible: indicate the number, cost and suppliers . Once you have outlined the needs of your company. Establish the financial needs. What kind of outgoings you anticipate and any sources of financing. When making this estimate, you also take into account your company’s operating costs and revenue. Calculate both current expenses and expected revenues. Will the financial expenses that you will have to support, of management and investment. Be able to be covered by the income?