At the beginning of every journey there is a single step. That step usually is a concept. The best idea in the world is useless, if it stays just that, a thought. To realize your business concept, SmartBusinessPlan has created a web application that helps you to create your business plan the way you like. At the start of the writing process, all the information presents itself in an unstructured and intimidating pile. Finding the starting point in that pile can be time consuming and frustrating. SmartBusinessPlan offers you the possibility to arrange your thoughts and ideas in our Canvas before you get started with writing your business plan. Fill in the pre-set boxes in the Canvas and gain an overview, what has to be done to end up with the best business plan you can.
Now that you know where your business plan is heading, it is time to formulate the design. A quick written summary will give your future investors an overview of who you are and what the business will be about. It is important to be brief and focused in this chapter, for a long, dull summary might frighten off potential investors. Now that the people reading your business plan know the basic concept, you can go into greater detail. You should start by answering two questions: What am I offering? Who needs what I offer? If you can’t answer both satisfactory, you should go back to the drawing board until you can. Now you must point out, what kind of competitors you are facing when selling your product and how big the market is. You will notice that the content of those chapters can easily be found on the canvas: What? Who? How? With the basic framework done, you can yet again get more precise. Who is the target audience of your business? How are you going to attract attention to your product? How will your product reach the customer? How will you ensure client’s keep coming back for more? SmartBusinessPlan will help you keep your chapters on point. When writing your business plan you should stay realistic, when planning the aforementioned aspects. Potential investors will be put off by unrealistic predictions like the absence of competition or extremely high starting profit. Make sure to proof every assumption you make.
Follow the conceptual path with an overview of your company’s design. Introduce yourself and your partners, state if you are going to need employees and where you are going to set up your headquarters. To give your potential investor a concept of, what liability and accountability is involved, state and justify which company structure you are going to use.
Probably the reason why a lot of people despair, when writing a business plan. Financial plans make or break your business model, since they are the most important part of the business plan for investors. This importance stems from the fact, that the financial plan plainly shows if a business model will be successful or not. Especially entrepreneurs with no background or experience in the field of finance often struggle with writing this part of your business plan. So the question is: How do you write a financial plan? SmartBusinessPlan offers a detailed chapter structure regarding that topic. Every part of the financial plan is explained and there are premade forms to simply input your figures. The app will then calculate projections of capital requirements, liquidity, profitability and cost over a three year span. This will enable even inexperienced users to write a business plan with a comprehensive finance plan.