The Business Plan is an essential administration tool that enables the detailed elaboration of the establishment and operation of a company.
By building it, the entrepreneur is able to have a structured view of the products, processes, value levers, competitive differentiators and value proposition that will be offered to the market and target audience.
What is a business plan?
The business plan document, known as a business plan, is a record that explains in detail the strategy of a future enterprise or a company already in operation. This document outlines the concept of the enterprise, presenting its targets and distinctive characteristics in the market. Additionally, it establishes a schedule for activities such as identifying the target audience, entering the market, managing operations and financial projections. Finally, it assesses the company’s viability in pessimistic and optimistic situations.
Briefly, the business plan acts as a connection between the entrepreneurs’ conceptions and the businesspeople’s practices. The plan exposes the logic underlying the creation of the enterprise, as well as the logic underlying its offering and generation of value.
Entrepreneurs write a business plan when they are about to start a new business, when they seek to record the position of an already established enterprise, or when they wish to formulate a new approach to that same enterprise.
Furthermore, the business plan provides a clear view of the company’s strategies in relation to the market, marketing, operations and finances. It also assesses the company’s viability, considering competitive advantages and inherent risks, as well as revenues and expenses.
What are the steps to putting together a business plan?
There are several ways to prepare a business plan, ranging from comprehensive to more concise versions.
Executive summary
A comprehensive business plan should begin with an executive summary, although this section is the last to be written by the entrepreneur.
The executive summary needs to encompass a synopsis of the crucial points of the business plan, covering the details of the entrepreneurs and the enterprise. These details include the professional experience and responsibilities of each founder, the company’s mission, the segment of activity, the legal structure, tax classification, invested capital and sources of financing.
Business description
After the executive summary, detailed descriptions begin. The business plan is structured into eight sections: business profile, market analysis, marketing strategy, planned operations, financial projections, prospective scenarios, strategic assessment and analysis of the business plan itself.
The business profile section then lists the company’s field of activity (including sectors such as agriculture, industry, services and commerce); its legal structure (covering categories such as MEI, EIRELI, ME, EPP, Limited Society and Open Society); its tax categorization (encompassing options such as Simples Nacional, Real Profit and Presumed Profit); its initial investment (all contributions made by each partner for the establishment of the enterprise and its respective portions); and, finally, your sources of financing (whether internal or external).
Market analysis
Market assessment begins with a customer analysis. If they are individual consumers, a starting point involves specifying age groups, genders, marital status, income, educational levels and areas of residence. In the case of business entities, the entrepreneur must list the sector of activity, products and services offered, number of employees, duration of activity and financial capacity.
However, demographic information is just the beginning. Those who prepare the business plan need to incorporate customer preferences and behaviors, such as quantity and frequency of purchase of similar products or services, favorite brands, locations of consumption, average price paid, perceived evaluation of service and product quality/ service, as well as average delivery and payment times.
Planning is key to a good business
After these and several other steps, it is essential to broaden the perspective of the enterprise, directing the focus to the preparation of marketing, financial and operations plans.
It is essential to keep in mind that the business plan is a constantly evolving material. It is necessary to review it regularly to adapt to changes in the company’s business model. Therefore, in addition to its accuracy, also ensure that the business plan is up to date.
Count on someone who understands the subject!
3Capital has extensive experience in developing business plans. We have qualified professionals to capture your information and apply it strategically so that your new business is supported efficiently.
A good business plan must be created by someone who understands the subject. Therefore, count on us in this process.
