Startup culture is growing rapidly in India. The government also promotes it a lot. This is the reason why great startup businesses are being created even from small cities. However, the most important thing for any business is money. You either get this money from investors or through a loan from the bank. Both of these require a business plan. Making a business plan is very important, but the question is how is this business plan made. This is not very difficult, you just have to do these 6 things and the money will come to you on its own.
1- Make an executive summary of the business
This is your business idea, which is explained in detail. You have to make an executive summary, because this is how the person giving the money gets to know all the things about your business. In this, things like vision and mission of your business, target market, comparison with the competition are written. After reading this, anyone can understand your business well and make their future strategy on that basis.
2- Definitely tell about the company
In the business plan, you also have to tell about your company. You have to tell what your business is about, what is its legal structure and what is the location of the business. Also tell about the product and service in detail. Also highlight the unique things and tell how that product will meet the needs of the target audience. While telling about your target market, you have to tell how you want to position your business in that market. Apart from this, you will also have to tell about your team members, as well as tell in which field they are experienced.
3- Market analysis is very important
It is very important for you to do a market analysis, so that you will get to know about the market well. Under this, you should understand about the target market, understand the pattern of people buying goods. Their feedback should also be given importance. Not only look at the opportunities present in the market, but also see what are the challenges for you in those markets. Apart from this, do a complete research about your competitor and know what are his strengths and where are his weaknesses. This will help you to position your startup effectively and develop some different strategies.
4- Build a team for business
You have to tell in your business plan which team of people you are making for your company and what will be its structure. You will also have to tell about the work, responsibilities and necessary education of all the team members etc. In this, definitely tell about your mentor or advisory board. The biggest hand behind the success of any startup is its team and any investor pays a lot of attention to the team of any startup.
5- Tell your strategy to investors
Under this, you have to tell the marketing and sales strategy, with the help of which you want to promote your startup and attract customers. Identify effective marketing channels and explain your promotional methods. Include your digital marketing campaigns, social media engagement, content creation and traditional advertising methods. Also give a sales forecast and tell about your distribution channels.
6- It is also important to tell the story of the financial plan
You have to make a financial plan for your startup regarding future sales and profits. Under this, you have to tell how much revenue you can earn in the next 3-5 years or any period, how many expenses can be incurred and what can be your profit according to this. Whenever an investor reads your business plan, he is most interested in this section, because this is the section that shows the way to earning. If you are confused somewhere, then do not hesitate to take help from a professional for this, otherwise due to a small mistake of yours, the investor can stay away from you.
