You may need to develop a business plan only in two cases:
- for yourself – to understand and find the economic truth in the planned business/business
- as a formality when receiving any loans, loans, guarantees, etc. for your business from any structures, investors.
From my practice, I can say that in 90% of cases, the customer needs a business plan after all as a formality, because his real forecast is mostly based on subjective intuition and work "with wheels".raquo;.
One of the main conditions when developing a business plan for the customer (if any departmental expertise is needed) is its compliance with certain legislative and regulatory requirements for its design, with a list and a set of certain calculation materials and explanations to it.
However, in addition to compliance with certain regulatory approaches, it is important to proceed from the initiator's own interest in developing a business plan, which should be based on the principles of objectivity and reliability of the forecast, building a high-quality multifactor model, on the basis of which a decision should be made about entering the business and its risks.
The development of a business plan (no matter for whom it is done - an enterprise, a small business, an individual entrepreneur) should be based on such approaches that can give a clear answer to the main key questions of the customer, based on his commercial interests (for which, in fact, the business plan itself is responsible):
- what to produce and how much
- is there a market, and will there be a niche + perspective
- is there anyone to buy from to produce from this (including other resources) + perspective
- what will be the balance of the business at the start of its activity and after a certain time
- what will be the net cash from the business, taking into account its current, investment and financial activities for the planned periods, i.e. the forecast of money
No "water", everything should be reflected in the case, so that your business plan would even be interesting for anyone to read!
If you want to order the development of a high-quality business plan or a feasibility study of your business, but you cannot decide what exactly you need, I will tell you.