Jonathan Mikula 8 tips for a successful business plan

8 tips for a successful business plan

Lying midway between marketing document and financial document , the business plan is one of the most important documents that need to be designed by any company promoter when he wants to proceed with the establishment of an economic activity or a major overhaul of it if it already existed.


Jonathan Mikula : According to many analyzes and studies that have been conducted by market experts entrepreneurship , one of the main reasons why over 50 % of new businesses do not survive to two years of existence is insufficient or lack of in-depth reflection on their project activity . While precisely , the business plan is the document of choice for organizing and presenting the results of a real and serious analysis of a business project.

To avoid some of the companies that will not be sustainable, it would be wise to know how to make a business plan. To do this, you must know the different objectives of a business plan , what should be the content , what makes a good business plan and how to write .
The different objectives of the business plan

Overall, we can say that the role of the business plan is to present a project or activity to be more concise, a business plan in order to provide him the best possible chances of success. Specifically, various objectives may be vested in a business plan.

The most common objective which is to recognize that a business plan is to convince potential investors that they finance the project company that has been developing the business plan. Besides that , another equally important objective of the business plan is the tool used to manage the business for the project leader himself.

You 'll understand that a business plan is a document of strategic significance , operational and financial .
What is the content of a business plan ?

A business plan worthy of the name must provide detailed information on the characteristics of the supply of goods and services , the resources that are needed and how they will be used , but also the vital need met by the project company.

A business plan should contain at least the following points:

    A general description of the business plan and the various implementing rules discerning the appropriate number of economic assumptions.
    Market research
    Heritage forecast situation and exploitation ( financial and accounting statements short, medium and long-term balance sheet , income statement , cash plans , ... )
    An inventory of human, material and financial resources.

To help recipients understand business plan document , it is advisable to attach any supporting data elements that can be used to specify or clarify the business plan.
What are characteristics of a good business plan?

A good business plan should have the following characteristics :

    It should be simple , accurate and comprehensive .
    A good business plan should be adapted to the social purpose of the business plan.
    It must be attractive.
    Must present information that is likely the best documented.

After reading a business plan, you should be able to have a clear vision of what is offered to consumers , identify the distinctive elements of the business plan , assess profitability and risks, and identify the means and resources necessary for its implementation.
Write yourself or hire a professional

You can build yourself a business plan or to use the services of an expert. If the developer intends to realize itself, there are many business plan software , most of which are free and available online.

The best solution would be that the contractor develops its business plan and they require the assistance of an accountant , for example, to enrich the debate and assess the consistency of the information presented. Indeed, in addition to technical skills , these experts have experience of such documents.
Useful Tips for a Successful Business Plan

    Must develop the capacity , skills and experience of human resources who will participate in business plan because the real wealth of any activity is the human potential.
    Must present information in a synthetic way , but not succinctly .
    Always give true information favoring a thorough analysis and qualitative aspect .
    Always review the numbers you have and justify the best possible being careful not to be too literary .
    Always cite your sources and re-cut the information received so that your business plan and you are credible to recipients.
    Do not overestimate your sales forecast
    Present a detailed competitive analysis and business strategy and key success factors and risk analysis .
    Do not forget to submit a detailed project implementation schedule.