Most startup founders understand the need for a business plan. They spend time researching and planning to collect all the information that is required but when the time to put it on paper arises, they are not sure of how to create a business plan. They are confused about which sections to include or exclude, what to highlight and additional resources that can be referred to.
Pivot Digital Ventures understands the importance of a business plan since it is the sole document that can help brands make or break a deal with investors. We help you with the different stages of how to write a business plan by helping you articulate your ideas and vision on paper and develop a robust roadmap for your business.
Before you reach out to us, here’s a small summary of what we suggest for how to create a business plan:
As the name suggests, this section is an introduction to your business plan. It must follow the title page and give the reader a high-level overview of your plan, extracting key themes; objective, business model, market and competitive landscape, team and product launch plans. An executive summary is crucial and must be clearly written.
This section begins with a brief description of the industry you are planning to operate in. Write about the current scenario along with future possibilities. You should also present details about the different markets within the industry, expected new products and developments, and their impact on your business.
Market strategies are devised after thorough market analysis and should be clearly presented by including total addressable market estimates and plans to grow your company user base to capture market share. Pivot Digital Ventures can assist clients with a detailed market analysis giving the entrepreneur a clear picture of how their business functions and how the brand needs to be positioned in order to achieve long term growth.
The objective of a competitive analysis is to understand the strengths and weaknesses of the competition in the market, the strategies that can help you gain a distinctive edge, and threats in the future from your competitors. It is extremely vital for you to consider this when considering how to write a business plan.
Design & Development Plan
With this section, readers and investors must get a clear idea of the product’s design, its development with respect to production and marketing. A development budget must also be offered to understand how the company will achieve its goals. Pivot Digital Ventures assists its clients with every aspect of branding and design.
Operations & Management Plan
This plan will specify more about the daily functions of the organization. Day to day company operations may include; business logistics and supply chain management, activities assigned to different divisions, operational management and the capital requirements for every business operation.
Be prepared to clearly define your financing requirements, burn rate to achieve set goals and company valuation in this section. Investors that find your business idea, team and total addressable market attractive will by vying for a sizable stake of your business for a reasonable valuation so take this into consideration. Clearly defined financial requirements & deal terms will help to attract investment.
The above sections should be able to give you an insight into how to create a business plan. For assistance, reach out to Pivot Digital Ventures.