Creating a winning business plan for Nigerian small business may seem a daunting task to a startup entrepreneur but it shouldn’t be. Creating a winning business plan and effectively implementing such plan in order to ensure that limited funds available to small business are focused in areas that matters is an essential task that must be perform by every small business owners. Therefore, in this article i will explain the effortless ways to create winning business plan for Nigerian small business that will guaranty that your limited funds offers maximum returns on your investment and help you focus more on areas that matters.

So let’s dive in straight into 6 ultimate steps to create a wining business plan for Nigerian small business.
Opportunities found must be explained in business plan for Nigeria small business

The business plan for Nigerian small business should explain to the investors at a glance what goldmine you have stumbled upon. That’s what attracts them for they also want to lay their hand on their own fair share of that. Really, who wouldn’t? Your ability as a startup entrepreneur to recognize a distinct, previously undiscovered need in the market place which your product or service will satisfy is the juice of it and you must explain this to the investors in your business plan. How do you do this? Start with a brief description of the business; highlight the competitive advantage your product, service or business will have over the others etc.
Proposed product or service must be explained in business plan for Nigerian small business

As a small business owner, you must get a clear picture of your proposed product or service and describe it in your business plan. In describing your product or services, simplicity is required. You must avoid the use of big technical terms and strive to explain the uniqueness of your product or services from your competitor. This is related to your unique selling point, you can read more about UPS here.
Business plan for Nigerian small business should explain the niche market

In my previous post, I have written a lot about identifying your niche market as well as opportunity recognition for startup entrepreneurs. If you have missed it, you can try to read them to keep up to speed. I am only going to explain here how this fits into overall business plan for Nigerian small business. You have to understand here that as a startup entrepreneur; your goal is to protect your investment and making sure that you reflect this in your business plan is essential. You must describe who your potential buyer/clients are and support your claim with some valid market research where necessary. This proves to your investors that you know what you are doing. You can also season the niche market description of your business plan with information like the location of the market, your proposed pricing strategy, your competition as well as your distribution strategies.
Business plan for small business must explain the proposed management team in detail

As a small business owner, this particular section is crucial to the success of your business plan because, the investors often place great deal of importance on the proposed management of the new startup business. Imagine yourself as an investor; would you rather invest your fortune with someone who is not capable of driving a business venture into a success? I don’t think so. This is why it is important for you to include in the business plan for your small business your managerial capabilities as well as special skills that will help the business to succeed and grow.
Business plan for small business must explain your financial projection

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Small business need funds to succeed just like any other business. When preparing the business plan for Nigerian small business, you must include the financial projection for such business opportunity. This aspect of your business plan will include a projected balance sheet, income statement, cash flow statement etc for foreseeable feature probably for the next three years. For small business, this section of business plan shouldn’t run into several years as economic atmosphere is extremely volatile and you will want to be dynamic to keep up with the pace. You should not forget to provide details of the premise for your projected finance as well as statement of cost for product/service development.
Business plan for Nigerian small business must explain the required Investment

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The business plan for small business has been described to be a guiding post for startup entrepreneur in your journey. Since the purpose of your business plan is to help you seamlessly float your business, you must describe the amount f investment that your business will require and the timing for such cash commitments. Also, you must ensure that all the funding sources and purposes are well detailed and plan your repayment methods for external funds.

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