What is a Business Plan? A Business Plan is the well researched document that serves as a foundation to a new business. It is a comprehensive analysis and definition of everything that is involved with giving your new business the best possible start. It is often used as a well thought out and structured pitch designed to convince investors that your business idea can be profitable in the current market place and make a good return on their investment with you for an acceptable amount of risk.
So what is in a Business Plan? Despite what you may read elsewhere, there is no “standard” business plan outline. Nor should there be? No two businesses are exactly alike and so their business plan should be different from every other business. This is why we do not use templates or provide samples.
All of Biz Guru’s Business Plans are tailored to each individual business after we have discussed your business with you. There are common elements to a business plan and these include:
- Executive Summary
- Company Profile
- Operational Overview
- Product and Service Descriptions
- Management and Staffing Structure and Credentials
- Market and Competitor Analysis
- Strategic Positioning, Differentiation and Competitive Advantage
- Strengths, Weaknesses, Opportunity and Threats faced by the Company
- Marketing Strategy and Plan
- Financial Plan, Budgeting, & Forecasts
Why do I need a Business Plan? A Business Plan is used by all investors (i.e. venture capitalists, the SBA, banks, and “angel” investors) as the primary decision criteria as to whether or not to grant a loan for a business idea. Furthermore, it lays out the necessary targets and goals your business will need to be successful. It is also an organizational tool used as a map by entrepreneurs to navigate through the road to success and profitability.
Why should I use Biz Guru instead of making my own plan? Biz Guru’s core business is researching and developing viable business plans and assisting your business to stand out in a competitive arena. Formulating a functional Business Plan can be a tricky task, so BizGuru will work with you as you fill in the “what” and we demonstrate the “how” of making your business work. Furthermore, our network of business professionals housed in our “Circle of Success” make it easier to penetrate into your market and break-even on your investment quickly.
Why should I think of in order to give my business the best possible chance? There are a number of reasons why businesses fail – but a well thought out and structured business plan will give you a great start to your new business.
What can I do if I do not have any money to invest in my own business? The Small Business Association (SBA) is the U.S. government agency whose job is to offer discounted loans to people with viable business ideas; they can finance up to 75% of a project if the Business Plan is convincing enough and well supported. However, there are numerous means available for attracting capital. Investors of all walks of life are always looking for alternative ways of beating the market and investing in small businesses and start-ups. However, every investor is going to want some kind of Business Plan and the better the plan, the more money you attract for your idea. You should note that every investor in your business will expect you to also invest in your own business as well – sharing the risks and the rewards – if you do not believe enough in your business to invest in it – why should they?
What is Venture Capital? is a fund raising technique for companies who are willing to exchange equity in their company in return for money to grow or expand their business. It can be raised for all types of business, both technology and non-technology businesses. Venture Capital also invests across stages – from the early stage seed venture, to later stage mezzanine financing. Venture capital firms usually require a high rate of return on their investment (20%+ per annum) and finance provided to the business is typically in the range of $500,000 to many millions of dollars.
What is an Angel Investor? They generally want less control of your company and a slower return on investment, however the criteria for investment are likely to be similar. Angel investor groups are great sources of private capital and frequently invest angel money into new companies.
It follows that both venture capitalists and angel investors are looking for capital growth and revenue increases and evidence that your business can deliver continued growth over time, to provide a return on investment.
What if I have no name, logo, or niche for my business, just an idea? The idea is all you need! BizGuru is an experienced team of professional and creative consultants ready to tackle the challenge of branding and differentiating your business idea so that you can hone in on your own niche within your market. We are constantly analyzing the contemporary markets so it is easy for us to distinguish what will work and what will not.
I want a visa for the USA but am not sure how to prepare the business plan they are asking for. Biz Guru writes many business plans for people seeking L and H business and investment visas to enter the USA. We can also put you in touch with a visa lawyer and company incorporation service if you need these as well.