Lesson 4
CHAPTER 2
Developing a
Business Plan
Objectives
Explain what a business plan is, its focus, types and
content
Distinguish between a business plan and feasibility
plan
Determine possible product and service that will meet
people’s need by accomplishing the new product and
new service template
What is a
Business Plan?
A business plan is a comprehensive document that outlines the
goals, strategies, and operations of a business.
It serves as a roadmap for how a business intends to achieve its
objectives and sustain profitability.
A business plan includes sections such as an executive
summary, company description, market analysis, organization
and management structure, product or service offerings,
marketing and sales strategies, funding requirements, and
financial projections.
A business plan is crucial for entrepreneurs starting a
new venture or expanding. It clarifies the business
concept, identifies challenges, understands the target
market, and sets objectives. A well-crafted plan
attracts investors, secures loans, guides operations,
aids decision-making, and aligns the business for
success.
Focus of a Business Plan
acts as a comprehensive
to outline the document that not only
goals and communicates the vision
and mission of the
objectives of a
company to potential
company, as well investors, partners, and
as the strategies employees, but also helps
the business owner to stay
and steps needed focused and accountable to
to achieve them their goals
Categories of Business Plan
Traditional Business Plan
This type of plan is very detailed,
takes more time to write, and is
comprehensive. Lenders and
investors commonly request this
plan.
Categories of Business Plan
Lean Startup Plan
This type of plan is high-level
focus, fast to write, and contains
key elements only. Some lenders
and investors may ask for more
information.
Categories of Business Plan
One-page Plan
The one-page business plan is a
simplified version of a traditional
business plan, following the same
structure but easier to create and
can be used as a pitch document.
Categories of Business Plan
Growth Planning
Growth planning is a financials-
focused planning process
designed to help you make quick
and strategic decisions.
Contents of a Executive Summary: This
Business Plan section provides a brief
overview of the entire
business plan, summarizing
the company's mission, goals,
products or services, target
market, and financial
highlights.
Company Description:
This part gives a detailed
description of the company,
including its history, legal
structure, location, and the
problem it aims to solve or the
need it fulfills in the market.
Market Analysis: Here, the
business plan delves into the
target market, industry trends,
competition analysis, and the
company's unique selling
proposition (USP) that sets it
apart from competitors.
Marketing and Sales Strategy: This
section outlines the company's
marketing approach, sales tactics,
pricing strategy, and how it plans to
promote and sell its products or
services to customers.
Financial Projections: In this
category, the business plan
includes financial statements such
as income statements, cash flow
projections, and balance sheets to
demonstrate the company's
financial health and future growth
potential.
Business Plan
Worksheet
Thank You
