Business plan is basically commercialized version of your business idea that looks attractive to the investors and stake holders and its objective is to communicate most effectively the significant opportunities and growth capacities of your company. It has to be clearly justifying the business idea and further developmental path with the risks and obstacles on the way and their possible solutions proposed in detail.
Its three most important features are 1. Clear depiction of short/long term objectives, 2. How to achieve those objectives realistically and 3. How the plan thus achieved is meeting the investor’s expectations.
Everybody needs a business plan be it for: External use like venture capital financing or financing through bank credits or internal use like for your stake holder’s review and assessment for planning.
Our experts from world’s finest business schools are researching the ways to make sure the business plan we create has already incorporated all the aspects of growth and planned it to the end.
Our business plan clearly defines when you will turn profitable to woo your investors, what is the path of growth, which markets how much expansion, people requirement and resource triggers. You would know when you would be required to put in more serious expenses and handle extra costs to match the demand of improved product or services.
We start with PESTLE analysis for macro level view of competitive landscape putting your core competencies in the middle of everything and we also encourage to pay attention of each segments (Political, Economic, Social, Technological and Environmental) through the 5W window of who, when, what, where and why. This analysis will make you equipped with the information and act as a trigger to arrange the necessities of the long journey called growth.
Once the macro level is done we get into the micro level analysis of your business, product and service through SWOT.
Strengths and weaknesses are something we find within your business, we get deeper into the competitive strengths, advantageous skills, capital, network, resources and so on. In case no weakness is visible we can take your strengths and measure them against the competitor’s strengths and there you are with your weaknesses.
Opportunities and threats are coming from the outside world, opportunities are like low hanging fruits those you can always leverage through your strengths whereas the threats are the outcome of your preparation to take on the challenge, as Seals rightly put it “You don’t rise to the occasion, you fall to the level of your training”.
Now to maximize your potential and play to your best the best strategy is to setup the game against the odds. Play your strengths against your opportunities, here you win value for your business whereas play your weaknesses against your threats and here you will come out with your defense mechanism.
Then comes the final outcome and that is designed with McKinsey’s 7S model of Strategy, Structure, System, Style, Shared values Staff and Skils.
These critical aspects if incorporated while making a business plan it ensures the success ratio moves up heavily. Someone rightly said “If you fail to plan, you plan to fail”