Importance of a Business Plan and Financial Projections

Developing a business plan and financial projections does not have to be a difficult task, the simple business plan tells a story. To help you appreciate the importance of a business plan and financial projections, we’ve set out below a number of reasons why they are necessary and the type of business situation they can be used for.

Importance of a Business Plan and Financial Projections October 5th, 2016Team
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Exit Strategy in a Business Plan

This is the final part of a series of articles on the contents of a simple business plan.

The business plan exit strategy explains to investors how they can realize their return on investment. It is important to develop the business plan around the exit strategy, to ensure that options are not limited at a future date.

Exit Strategy in a Business Plan October 5th, 2016Team
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Funding Requirements in a Business Plan

This is one of a series of articles on the contents of a simple business plan.

The business plan funding requirements section gives a summary of the amount, timing, and purpose of funding needed by the business.

Funding Requirements in a Business Plan October 5th, 2016Team
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Existing Investors in a Business Plan

This is one of a series of articles on the contents of a simple business plan.

The business plan existing investors section gives a potential investor a summary of the investment funding the business has received to date, together with a brief outline of the way in which the money was utilized.

Existing Investors in a Business Plan October 5th, 2016Team
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Business Plan Financials Summary

This is one of a series of articles on the contents of a simple business plan.

The business plan financials summary gives the potential investor a financial overview of the business for the period of the business plan.

Business Plan Financials Summary October 5th, 2016Team
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Business Model in a Business Plan

This is one of a series of articles on the contents of a simple business plan.

The business model section of the plan sets out to show the investor how the business plans to make money from their idea. It discusses revenue streams and cost structures to briefly explain the underlying microeconomics behind the business plan.

Business Model in a Business Plan October 5th, 2016Team
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Marketing Strategy in a Business Plan

This is one of a series of articles on the contents of a simple business plan.

The market strategy section of the business plan sets out to show how the business plans to use its marketing mix (pricing, promotion, place, and product) to win a share of the target market

Marketing Strategy in a Business Plan October 5th, 2016Team
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Market Share in a Business Plan

This is one of a series of articles on the contents of a simple business plan.

The market share section of the business plan sets out how much of the served available market (SAM) the business can realistically expect to grab from competitors. It is referred to as the serviceable obtainable market of SOM. The SOM is usually presented in monetary terms and as a percentage of the SAM.

Market Share in a Business Plan January 4th, 2017Team
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Competitive Advantage in a Business Plan

This is one of a series of articles on the contents of a simple business plan.

The competitive advantage section of the business plan sets out the unfair advantages your business has over the competition. Assuming the competitor brought out a similar product, the competitive advantages should allow your business to win, build and maintain market share.

Competitive Advantage in a Business Plan October 5th, 2016Team
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Competition in a Business Plan

This is one of a series of articles on the contents of a simple business plan.

The chosen target market for your business idea will have competition, if there is no competition there is a high possibility that there is no market.

The competition section of the business plan sets out to show who this competition is and why your product is better at satisfying customer benefits and needs.

Competition in a Business Plan October 5th, 2016Team
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Target Market in a Business Plan

This is one of a series of articles on the contents of a simple business plan.

The served available market (SAM) discussed in the previous article, is made up from a number of groups of customers with similar characteristics (customer segments). These customer segments form the target market for the business plan.

Target Market in a Business Plan February 22nd, 2017Team
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Market Size in a Business Plan

This is one of a series of articles on the contents of a simple business plan.

To the investor, the customer solution shown in a business plan in itself has no value unless it can be realized in the market place. Ultimately, it will be the industry market size that decides the value of your business to an investor and, as a rule of thumb, the bigger the available market, the better.

Market Size in a Business Plan February 22nd, 2017Team
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