Basic business plan template

Putting together your first business plan shouldn’t be a totally over whelming and daunting experience. 

Below is a fool proof guide to creating a basic, yet comprehensive business plan for any business.

Business Plan

OWNERS

Business name:           Your Business Name

Address:                      Address Line 1

Address Line 2

City, Province, Postal Code

Telephone:                  +27 11 777 6655

Fax:                              +27 11 222 3344

E-mail:                         info@abcevents.com

Vision

A clear vision keeps you on course; it keeps you on purpose. It forecasts the total journey you are about to take and gives you something to strive toward. It’s your company’s higher purpose … something to which you and your company aspire. Your vision needs to be so clear and focused that you will be proud to repeat it at will to every person you meet. A Vision is comprised of the following 4 aspects:

Purpose

In the vision for your company, the purpose is the ultimate intention of your business. It is the “why your company exists” statement; when others read it, they have a sense of what your business wants to be. The purpose statement is something you strive for, your aspirations.

Mission

The mission of a company is comprised of the big initiatives that you are going to accomplish. This is the list of goals and strategic actions that the business is striving to achieve. Your purpose drives your mission. Your mission is composed of goals and activities that you could check off when completed; it is not a destination.

Descriptive Narrative

The descriptive narrative is made up of three major components:

1) Words that Elicit Emotions

2) Words that Paint A Vivid Picture

The words you use to describe your vision should elicit emotions that then paint a vivid picture in your mind. The business description will answer many questions, some of which are: Why your business exists, what your business represents, why you do the business you do and what you do.

Values

Values speak to your true essence and represent who you are and what you stand for. Below, I have listed some values that you may find helpful when creating your vision. Each of you can identify with some of these values and there are some that you might honor to a higher degree than others.

Marketing Plan

Marketing is critical in order for you to take your product or service to the public. So many businesses “random market”: they try something one month and then try something else the next. It’s no wonder they’re never on target. Why? Because they don’t have a clear vision of their company for which a marketing plan could be designed. Unfortunately, with no marketing plan, revenue forecasting cannot be done.

With the work you’ve already done on vision, your marketing can be like a laser beam that hits your revenue projections every single month.

List the components of your current marketing plan (ie. telemarketing, direct mail, networking groups, etc.)? Then, beside each item you list, state how well it’s working for you or if it isn’t working. Even if you don’t think you have a plan, list the things that you do to bring in new customers enabling you to sell your service or product?

Products and Services

Describe in depth your products and services. (Technical specifications, drawings, photos, sales brochures, and other bulky items belong in the Appendices.)

What factors give you competitive advantages or disadvantages? For example, the level of quality, or unique or proprietary features.

What is the pricing, fee, or leasing structure of your products and services?

Sales Forecast

Now that you have described your products, services, customers, markets, and marketing plans in detail, it is time to attach some numbers to your plan. Use the sales forecast below to prepare a month-by-month projection. Base the forecast on your historical sales, the marketing strategies that you have just described, your market research, and industry data, if available.

See attached template at the end of this document.

Operational Plan

Explain the daily operation of the business, its location, equipment, people, processes, and surrounding environment.

Management and Organization

Who manages the business on a day-to-day basis?

What experience does that person bring to the business? What special or distinctive competencies?

Is there a plan for continuation of the business if this person is lost or incapacitated?

Appendices

Include details and studies used in your business plan; for example:

• Brochures and advertising materials
• Industry studies
• Any other materials needed to support the assumptions in this plan
• Market research studies
• Company Organization Chart
• Company Resource List (Who does what and how can they be reached)