RUDIMENTS OF A COMPLETE BUSINESS PLAN

Business planning is an essential tool for any kind of business venture no matter how small or big the scale for start up may be. For any kind of venture or project; be it a building, manufacturing, production, agricultural, etc, there has to be a plan and strategy that would ensure the reality of that project. In most cases, it is tailored and customized based on the type and scale of business to be engaged in. Moreover, it has to be targeted at a serious need or problem with high market demand. Your niche must be established with competitive edge even before you begin because you already have many competitors who like sharks seek to predate and beat you to it. Thus the Entrepreneur does not need to be dogmatic in the methodology to be used in his business plan. Details of Vision reflecting where the business would be in the next 3 years must be clearly defined, stipulated, identified and followed through. The lack of it is the reason why so many businesses fold up overtime. The Mission must show it is fit for a purpose. The plan has got to be ethical, concise and must take into consideration the profitability, financial efficacy and projections keeping in mind the SMART objectives; Specific, Measurable, Achievable, Relevant and Time-bound objectives.

A note worthy point that we cannot overlook are the building blocks for the model with which your business plan would operate, succeed and make money with. These blocks create the solid foundation for the functional organs of your business. They are the substructure and ultimately the secret of your future business empire. They are your; partners, key activities, key resources, value propositions, relationships, channels, customers, cost and revenue.

The structure of a business plan should contain but not be restricted to the following;
Title page, Contents page, Introduction page, Main body, Appendices and Executive summary

WHAT MAKES YOUR BUSINESS PLAN FUNCTIONAL
A good business plan should encapsulate external analysis with current realistic situations of; the economy, business environment, the market place, competition, market share, e-commerce and technology. Simultaneously also, it should show the internal analysis with current situations that reveal; your business (products/services, trends and description), customers, marketing, sales, group structure and management team/ HR.

Once it was quoted; ''Know your friends well but know your enemies better.''

Thus it is imperative that your SWOT analysis deduced from the external and internal analysis should indicate; relative Strengths, Weaknesses, Opportunities and Threats both for yourself and your competitors. Then observe and take advantage of your competitors weakness in order to create a niche for yourself from there.
The plan must put in place competitive strategies that reflect where you are going and how you intend to get there. Indicating; your team, operations, technology, marketing and sales (product, place, pricing and promotion; revealing how they answer customer needs with conveniences, etc ).

THE MARKET OPPORTUNITIES
The Market Opportunities containing situations, background, needs and problems are to be well spelt out. Explain and define the it considering potentials of end users sectors and segments. Explain historical/existing solutions and their weaknesses/deficiencies. Quantify the market potential and realizable market share. Strategic Action Plan; are the actions with outputs, necessary to realize market share/sales stated above. Strong emphasis should be laid on how to leverage with distributors, vendors and sales organization.

OPERATIONS
Must refer to all key activities, protocols, procedures, relationships and channels that would lead to the value propositions of your products/services.

RAW MATERIALS ACCESSIBILITY
The proximity to raw materials to a large extent would make or mar the timely speed of product delivery. As a result, considerations must be given as to where to obtain them at the best price so as to minimize the cost of production and maximize profitability at the highest levels.

SET UP PERIOD
The lead time for set up and start up taking cognizance of all the required factors of production, capacity and type of machineries in question for installation; are very vital to the success of future operations.

COMPETITORS
Identify all the key players that have been there before you and seek out their weaknesses so you can build it as your strength. If for example you find yourself in a boxing ring with a boxer with one weak and painful left leg, what would you do? Capitalize on that weak left leg until you knock him out of business.

RISKS
Get to know what are the risks poised at your particular line of trade and ensure you have solved them before you ever start up.

MACHINERY AND EQUIPMENTS
Understanding the scale at which you are beginning would help you to know and identify the type, production capacity per hour, functions, etc which ultimately determine the duration of time taken to produce as well as the quantity produced within targeted time frame for market demand.

CAPITAL REQUIREMENTS
Catering for all fixed assets, variable assets, wages, insurance, licenses, logistics, etc that would ascertain how much is required for your business to thrive until it moves into cruise control.

FINANCIAL CASH FLOW PROJECTIONS
Should be in spreadsheet formats showing clearly all direct costs, indirect costs, capital costs, etc that would enable the investor/financier possess the confidence/assurance of returns on his investments.

Compiled by Eureka G.S Consult. We have brief and concise business templates which are designed and ready to be customized for your needs. They include; Aqua-cultural fish production, Fish feed formulation, Fish processing/packaging and Cassava processing/packaging. Others in the pipeline include; snail farming, grass cutter business, goat rearing, cow rearing, dog rearing, dog food production and real estate investment.
To obtain a comprehensive business plan specifically tailored and suited for your business needs or patronage; Please call 08067187090 or 08116640012. Email; amyeboche@gmail.com or amozzany@yahoo.com

Amozzany:


Compiled by Eureka G.S Consult. We have brief and concise business templates which are designed and ready to be customized for your needs. They include; Aqua-cultural fish production, Fish feed formulation, Fish processing/packaging and Cassava processing/packaging. Others in the pipeline include; snail farming, grass cutter business, goat rearing, cow rearing, dog rearing, dog food production and real estate investment.
To obtain a comprehensive business plan specifically tailored and suited for your business needs or patronage; Please call 08067187090 or 08116640012. Email; amyeboche@gmail.com or amozzany@yahoo.com

Hello bro., Please do you have any business plan/template on Palm Oil Production & Processing. I would appreciate your help.
Thank You