How To Write A Perfect Business Plan
How To Write A Perfect Business Plan: It is obvious that the effect of Covid’19 brought about a lot of opportunities to either get a loan or grant. Most cooperate bodies/organizations that gives loan and grant before the existence of Covid’19 devise other means to make loan/grant easier for more people to benefit.
While some organizations/NGOs came into existence because of the Covid’19 pandemic to ease it and help those that are financially affected.
The Federal Government of Nigeria and some state government also tried their best by giving out palliative to the masses, which generated a lot of controversies because it looks like the beneficiaries are about one-tenth.
The Federal Government of Nigeria also brought about the covid’19 loan with a different segment like Household, SME, etc. of which few persons also benefited. The Central Bank of Nigeria also, instruct the commercial bank and microfinance bank to give out loans and bring down their loan criteria so that most people can benefit.
While some cooperate bodies/NGOs came up with giving Grant and one of the criteria is to write a business plan. Most of the loans especially from the SME loans and above enquire business plan.
READ ALSO: GET THIS CLEAR FACT ABOUT BEING WEALTHY
With all the above mention, a lot of persons complained that they didn’t benefit, some said only some part of the country were favored which might not be true.
Today, I will give you few tips on how to write a business plan which I think denied most SMEs from getting loans and others from getting grants.
How to write a Perfect Business Plan
It is important for every business to have a written business plan. Whether it’s to provide direction or attract financiers, a business plan is vital for the success of your business or organization. But, how do you write a business plan?
In most cases, the beginning is always difficult. I will give you few steps for writing a perfect business plan.
: Investigation cannot be left out in business growth because it is one of the major keys to every business success and it is necessary you do proper research on your product and competitors. Because your ability to do a proper investigation on your business helps you overcome every challenge that might want to frustrate the business in the long run.
Purpose Driving Plan:
This is another important factor. If you want to get a loan or grant, your plan will have a definite purpose and you’ll have to write a business plan in the direction of getting a loan or a grant and it must be clear and brief. In defining your plan, make sure your goals are personally defined.
Create a profile:
This must not be left out in your business plan. In fact, it should come early because investors are interested in it. The profile tells virtually everything about the business/organization including the history, the products/services offered, your target market and audience, the capital, how you’re going to solve a problem, and what gives your business edge ahead of others which also make it unique.
Investors don’t like wastage and they will want to make sure that your business will be a profitable one. So, therefore, they want other information that might not be captured in your company profile like your expenses, cash flow, industry projections, strategy, and licensing agreements.
Tactical/Strategic Marketing Plan:
There is this says that: “every structural design is envisioned in the heart of the designer” This is the heart of every business success. Having the capital or erecting a gigantic building structure is not as important as the marketing strategy.
A brilliant business plan will always include a strategic and aggressive marketing plan, which includes achieving marketing objectives. Each marketing objective should have several goals and tactics for achieving those goals.
In the objectives section of your marketing plan, focus on ‘what’ and ‘why’ of the marketing tasks for the years ahead. In the implementation section, focus on the practical, sweat-and-calluses areas of who, where, when, and how. This is life in the marketing trenches.
Make it flexible:
The potential readers of a business plan have typical interests. Therefore, make sure your plan can be modified depending on the audience reading your plan. Keep these alterations limited from one plan to another. This means that when sharing financial projections, you should keep that data the same across the board.
Your plan needs to show how zealous and dedicated you are, and that you actually care about both the business and the plan. You could discuss the mistakes that you’ve learned, list the problems that you’re hoping to solve, describe your values, and establish what makes you stand out from the other competitors.
By explaining why you care about your business you create an emotional connection with others so that they’ll support your organization going forward.
Finally, make sure your points are brief and straightforward because in most cases you might not be there to defend your points. Therefore, make sure the terms or language used in your business plan are simple, the fonts are readable and the layout is straightforward for easy understanding.
Nevertheless, there are more to writing a perfect business plan but I see the above points as the basis and if carefully followed, you won’t need to beg or hire anybody to help you write your business plan and by so doing, you won’t belong to the category of people that think loan or grant is been manipulated.
Don’t delay in taking a step. Take the step today and you will feel like taking the step again and again. Because “without commitment, you can never start and without consistent, you can never finish.”
I hope with this script and many more that will be published, you will stop complaining rather, you will take that bold step that comes with success. Kindly drop your comment before our next publication in the next 48hours.