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Business plan for a new business
The business plan consists of a narrative and several financial worksheets. The narrative template is the key to the business plan. It contains more than 150 questions divided into several sections. Omit any questions that do not apply to your type of business. When you have finished writing your first draft, you will have a collection of small essays on the various aspects of the business plan. The next stage is to edit them into a smooth-flowing narrative.
The real value of creating a business plan is not in having the finished plan in your hand; rather, the value lies in the process of researching and thinking about your business in a systematic way. The act of planning helps you to think things through thoroughly, study and research if you are not sure of the facts, and look at your ideas critically. It takes time now, but will help avoid costly, perhaps disastrous, mistakes later.
This business plan is a specific model suitable for high-tech businesses. Before you begin, look atthe 1stsection Tailoring the plan. It has tips for fine-tuning your plan to make an effective presentation to investors. If this is why you’re creating your plan, pay particular attention to your writing style. You will be judged by the quality and appearance of your work as well as by your ideas.
It typically takes several weeks to complete a good plan. Most of that time is spent in researching and revising your ideas and assumptions. But this is the value of the process. So make time to do the job properly. Those who do so never regret the effort. And finally, be sure to keep detailed notes on your sources of information and on the assumptions underlying your financial data.
Tailoring the plan
The generic business plan presented should be modified to suit your specific type of business and the audience for which the plan is written.
For raising capital
For investors
Investors have a different perspective. They are looking for dramatic growth, and they expect to share in the rewards:
o
Funds needed short-term
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o o o o o o o o
Funds needed in two to five years’ time
How the company will use the funds, and what this will accomplish for growth Estimated return on investment
Exit strategy for investors (buyback, sale or IPO)
Proportion of ownership that you will give up to investors Milestones or conditions that you will accept Financial reporting to be provided
Involvement of investors on the board or in management
For type of business
High-tech companies
Economic outlook for the industry
Will the company have information systems in place to manage rapidly changing prices, costs and markets?
Will you be on the cutting edge with your products and services? What is the status of research and development? And what is required to:
o o
Bring product/service to market? Keep the company competitive?
How does the company:
o o o o
Protect intellectual property?
Avoid technological obsolescence? Supply necessary capital? Retain key personnel?
High-tech companies sometimes have to operate for a long time without profits and sometimes even without sales. If this fits your situation, a banker probably will not want to lend to you. Venture capitalists may invest, but your case must be very good. You must do longer-term financial forecasts to show when profit take-off is expected to occur. And your assumptions must be well documented and well argued.
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Business plan
OWNERS
Your Business Name Date E-Mail Webpage
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Table of contents
1. Executive summary ................................................................................................................................................................ 6 2. Introduction to the Company and its Management ....................................................................................................... 7 2.1 Company Overview ......................................................................................................................................................... 7 2.2 Organisational Structure ................................................................................................................................................ 7 2.3 The Management Team.................................................................................................................................................. 7 2.4 Advisory Board ................................................................................................................................................................. 7 2.5 Proposed Management Compensation ....................................................................................................................... 7 2.6 Headcount Forecast ........................................................................................................................................................ 7 3. Products and Services Description...................................................................................................................................... 8 3.1 Products and Technologies Introduction..................................................................................................................... 8 3.2 Detailed Development Plan ........................................................................................................................................... 8 3.2.1 Product Roadmaps .................................................................................................................................................. 8 3.2.2 Development Stages ............................................................................................................................................... 8 3.3 Future Applications ......................................................................................................................................................... 8 4. Marketing Analysis................................................................................................................................................................. 9 4.1 Market Trend .................................................................................................................................................................... 9 4.2 Market Segmentation ...................................................................................................................................................10 4.3 Market Gap (Unique Selling Point) .............................................................................................................................10 4.4 Competitive Analysis .....................................................................................................................................................10 5. Business Model .....................................................................................................................................................................12 5.1 Core Competence ..........................................................................................................................................................12 5.2 SWOT Analysis ................................................................................................................................................................12 5.3 Marketing Plan ...............................................................................................................................................................12 5.4 Sales Forecast .................................................................................................................................................................14 5.4.1 Realistic Scenario ...................................................................................................................................................15 5.4.2 Optimistic Scenario................................................................................................................................................15 5.4.3 Pessimistic Scenario ..............................................................................................................................................15 6. Risk Analysis and Management.........................................................................................................................................16 6.1 Technical Risk .................................................................................................................................................................16 6.1.1 Technology Safety..................................................................................................................................................16 6.1.2 Product Quality ......................................................................................................................................................16 6.1.3 Delay.........................................................................................................................................................................16
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6.2 Competition Risk ............................................................................................................................................................16 6.3 Management of Growth ...............................................................................................................................................17 6.4 Market Risk .....................................................................................................................................................................17 7. Financial Plan.........................................................................................................................................................................18 7.1 Summary of Assumptions.............................................................................................................................................18 7.1.1 Revenue ...................................................................................................................................................................18 7.1.2 Direct Variable Costs .............................................................................................................................................18 7.1.3 Fixed Asset Investment .........................................................................................................................................18 7.1.4 Human Resources ..................................................................................................................................................18 7.1.5 Services Rendered by 3 Party............................................................................................................................18 7.1.6 Infrastructure and Operational Costs.................................................................................................................18 7.1.7 Marketing ................................................................................................................................................................18 7.1.8 Tax ............................................................................................................................................................................18 7.2 Break-Even Position.......................................................................................................................................................18 7.3 Projected profits ............................................................................................................................................................19 7.4 Investment and Return .................................................................................................................................................19 7.5 Financial Statements .....................................................................................................................................................19 8. Business Feasibility and Impact in the UK and China ...................................................................................................20 9. References..............................................................................................................................................................................21 10. Appendices ..........................................................................................................................................................................22
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