When it comes to writing a business plan it shouldn't be complex. In this article on How To Write A Good Business Plan In Nigeria (Updated 2020), it is a step by step guide that will put you through in writing a good business plan. With the help of this guide, I assure you in no time you will be able to write a business plan with no stress and get the amazing result you are looking for.
The Six Parts of a Business Plan
With these six parts of a business plan, you will be able to raise money and grow your business or also put your business ideas into work. Below is a quick synopsis of all six topics of a business plan.
The Executive Summary
The executive summary is one of the six parts of a business plan in which your company is been introduced. This part is very essential, it illustrates your layout and what you do. Executive Summary is also the first branch of your business plan structurally, so it should be written very well and articulated.
With what you have on your executive summary, you can attract a lot of investors. That's why your executive summary should be very detailed, this is one of the most critical parts when it comes to pitching a business plan.
Opportunity is another critical part of your business plan. This part is comprised of the information about the dilemma you are solving, the solutions, how your services or products fit and who you are planning to sell to, all suit into the competitive terrain.
This part also allows you to illustrate what really makes your solution different from the others and ways you have put in a plan to enhance your future offerings.
The execution part entails what you can do to keep your business running. how to use your opportunity and turn it into a business; this includes the sales plan, marketing, operations, how you are going to measure your success and the height you want to achieve.
The Company and Management
The company and management section describes your team. Investors search for great team and amazing team ideas. The company and manage part is also where you will provide a brisk summary of your setting, legal structure and the history of your business.
The financial plan is one of the important parts of creating a business plan, without a good financial forecast your business plan is incomplete. Your financial plan should begin with; your cash flow statement, sales forecast, your financial income statement and also your balance sheet.
This part isn't really required, but its a good part for placing any tables, definitions, legal notes, charts and other important pieces of information.
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