A Business Plan is highly recognized management tool that serves as an important roadmap for a business success that usually projects three to five years ahead and outlines a company plans to increase its profits. It is of great help in getting a bank loan, promoting growth in the company and providing guidelines to follow in order to grow your business successfully.
Your Business Plan shows who you are, describes your business, and depicts how you will be profitable. A properly created business plan can aid you in gaining confidence with investors, lenders and shareholders. Depending on the business you are doing or planning to start, a business plan has many sections such as finance, operations and marketing.
In order to create effective business plan with statistics, first of all, you need to write down the answers to the important questions that are related to your business growth. These questions may include:
- What products or services does your business provide? And to whom?
- What are the requirements of your business to produce those products or services?
- What will be the main attraction in your products or services for the customers?
- What will be the ways you reach potential customers?
- How will you get the finances to start or develop your business?
Before creating a business plan, make sure that you have all the related documents and documents that may help you in creating an effective business plan. Giving statistics in a business plan help the investors to compare and assess your business with your competitors, industry and target customer groups. You can also use statistics to show how you are planning to refine your business strategy and manage your business over time.
Here is preview of a Free Printable Business Plan Template created using MS Excel,
When creating a business plan, you need not to prepare hundreds of pages. Always keep it thorough, but concise and well structured. It may consist of elements such as your business proposal, your unique selling point, important competitive information with statistics, and market analysis with statistics, organizational structure, human resource requirements, premises and capital goods, important financial data with statistics, legal structure, and an executive summary.
In addition, there are few things that should be avoided while creating a business plan. Avoid being too ambitious as you may be asked to justify any assumptions or projections. When presenting a business plan, keep your focus on important issues in which the investors or lenders are interested such as markets, marketing strategy, cash flow, profitability, and growth potential of the company instead of new technologies and machines that the company is going to use. Do not try to mask financial difficulties; instead, inform your lender. A transparent business plan is the key to gain the trust of bankers and investors. Moreover, do not try to provide insufficient information on the management team, idealistic forecasts, defective marketing plans, or incomplete presentations.
Although it is quite difficult to convince investors, lenders and shareholders that you have a reliable business company and that you will use their funding well; however, using statistics in your business plan will surely help you in presenting it effectively and successfully.
Here is download link for above shown Business Plan Template,