What is a Business Plan?
A business plan is a company’s written document that describes in detail how a new business is going to achieve its goals. A business plan is created to turn an idea and develop it into a successful organization. Business plan also directs the business and give the glimpse of the future so a business can plan its future accordingly.
Why Business Plan is Important?
There are so many exceptional business ideas in the industry which do not translate in to a successful business due to poor execution and lack of planning. A good business plan considerably changes the success ratio of a business. Here are some important benefits of a business plan:
- Helps staying focused:
A business plan helps you focus during the tumultuous time of startup and growth. A business plan provides a direction to the management by enlisting and elaborating the steps necessary to achieve your organizational goals. All that is left for the management now is the efficient execution of the business plan.
- Minimizes Risks:
A business plan will minimize the risks for the business. All the risks faced by the company, whether these are avoidable or unavoidable risks, are discussed in a business plan. The management is advised on how to avoid the avoidable risks and how to mitigate the effects of unavoidable risks by recommending safeguards.
- Easier evaluation and control:
The business plan will help management understand the likely results in light of the decisions being made. Discrepancies and indications of unfavorable results will be in the management’s knowledge beforehand on comparison of actual results with that of forecasted results.
- Delegation of authority and management of team members:
Delegation of authority will be very easy and safe for the managers as the roles and responsibilities of each employee will be predefined. This will not only enable the managers to evaluate the execution of delegated tasks and free up time in their calendar for strategic decision making, but also empower the employees and motivate them.
- Enhances understanding of interdependencies
The management can use a business plan to keep track of what needs to happen and in what order. For instance, in the event that you need to time a product release to match a testing schedule or marketing to match a release, your business plan can be invaluable in keeping you organized and on track.
- Helps prioritize
Besides the strategy, additionally there is a need for consideration of different variables of your business such as financial health, growth and management. The management can utilize the plan to set a foundation for these, then to overhaul as the business develops.
How “Pro-BPlan” is different from others?
Pro-B Plan originates from the United States. It is engaged in servicing clients locally and internationally including countries such as Canada, Australia and Middle East amongst numerous other regions. We’ve worked with emerging companies and high net worth individuals and helped them source financing from banks and investors, successfully apply for franchise agreements or receive immigration visa. Our team has experience of research and business plan development in more than 80 industries including energy sector, agriculture, real estate & construction, food & restaurant, IT & E-Commerce and various manufacturing industries.
How much does an average business plan cost?
The cost of every business plan varies according to its type and size of the business. You can avail our free consultation to get a quote on your business plan.
Will there be financial projection in my business plan?
Yes! We will add financial plans (3 – 5 years) of your company in the business plan.
How long will it take to complete a successful business plan?
Both primary research and secondary research is used in writing Business Plans for our clients. Third party research of credible sources will also be used in the Business Plans.
Is my company too small or too large to hire a Business Plan Consultant?
The size of the company does not matter when making a decision of hiring a Business Plan Consultant. A consultant will customize the plan according to the size, location and other aspects of each business for optimum results.
Do I need to provide my own research for the preparation of Business Plan?
We have the experts who will be conducting research on your Business Plans. However, if you have any relevant data that you would like to be added in the plan, then feel free to share with us.
Why do I need a Business Plan Consultant even when my business is only a startup?
When an Entrepreneur is contemplating the possibility of forming a new business, a Business Plan Consultancy can help by using a Start-Up Process Analysis to assess the feasibility of a startup business. Research has shown that up to 70% of all new companies fail within 3 to 5 years of their inception. Business Plan Consultancy will also provide valuable strategic advice to assist an entrepreneur with their planning process.
Do I actually need a business plan before starting my business?
If you have a business, then it’s safe to say yes. The fact is that you may even require more than one business plan for success; one at the time of raising capital and the other to grow your business.
Why do I need a business plan consultant?
An experienced Business Plan Consultant has experience working in and working with a wide scope of organizations. Over the course of his experience, a Business Plan Consultant has had the opportunity of being involved in running businesses, in the financing of a business and above all, in promoting the business. It is the accumulated business knowledge of a Business Plan Consultant which makes it advisable to hire a consultant.