The creation of the business plan can be split into a number of steps, the first being the classic situation analysis. So we need to look at a number of factors that will influence the construction and ultimately, the presentation of the plan.

First things are first

You will need to write down in very clear and distinct sentences, three very important starting points:

Business Idea and Goals: Clearly define your business idea. What product or service are you offering? What are your short-term and long-term goals? Understanding these core objectives will guide you through the rest of the planning process.

Business Model: Decide on a business model that works best for your idea. How will you make money? This could include sales, subscriptions, advertising, franchising, etc. This should be based on an understanding of the legal and regulatory requirements for this type of business.

Management Team and Personnel: Consider who will be involved in founding, managing and operating your business. What skills and experience do they bring? How will you structure your team and what part do they play in developing the business plan?

What type of business plan do you need?

Here I list a 10 different types of business plan, the first four are for the entrepreneur, whilst the others are for the intrapreneur.

1. Startup Business Plan: This is a comprehensive plan used by new businesses to lay out their business strategy, market analysis, financial plan, and operational structure. It’s often used to secure funding from investors or banks. This will be the one we focus on.
2. Lean Startup Plan: A more streamlined version of a business plan, often used by startups. It focuses on summarizing the key points of the business idea, including key partnerships, resources, customer segments, value propositions, and revenue streams.
3. One-Page Business Plan: As the name suggests, this is a concise, one-page overview of the business. It covers the core aspects of the business but in a very brief format, often used for pitching to investors or as a foundational overview.
4. Franchise Business Plan: Used by individuals who want to buy into a franchise, this plan focuses on how the franchisee will operate the franchised business, including marketing, staffing, and financial projections.
5. Internal Business Plan: Used within an organization, this plan focuses on a specific project or department. It’s less formal and may not include detailed financial projections. It’s used for strategic planning and operational guidance, normally developed by the intrapreneur.
6. Feasibility Business Plan: Before launching a new product, service, or business, a feasibility plan is used to evaluate the viability of the idea. It assesses market demand, competition, and economic viability.
7. Strategic Business Plan: This plan outlines the long-term vision and direction of an established company. It includes high-level objectives, mission statement, company values, SWOT analysis (Strengths, Weaknesses, Opportunities, Threats), and long-term goals.
8. Growth or Expansion Business Plan: For businesses looking to expand, this plan outlines the strategy for growth. It includes market research, expansion strategies, new product development, and financial projections.
9. Operations Business Plan: This plan is focused on the internal operations of a business. It details the logistics, technology, and processes that the business will use to operate efficiently.
10. Contingency Business Plan: This plan is developed to prepare for unforeseen events or crises. It outlines strategies for handling emergencies, disruptions, or unexpected market changes.

So once we know what type of business plan we are aiming to write, we must then start to look at the resources available for this venture.

Evaluating your Available Resources

Here, I broadly like to start with the five main types of resources: natural resources, human resources, financial resources, physical resources, and informational resources. This tends to get us off to a good start.

1. Human Resources:
   • Management Team: Detail the key members of your management team, their roles, experiences, and skills.
   • Staffing Plan: Outline your plans for hiring, including the number of employees, their roles, and the timeline for recruitment.
   • Training and Development: Describe any training programs or professional development opportunities for your staff.
2. Financial Resources:
   • Startup Capital: Estimate the initial capital required to start the business, including costs for equipment, inventory, and initial operating expenses.
   • Funding Sources: Identify potential sources of funding, such as loans, investor capital, grants, or personal savings.
   • Financial Projections: Include detailed financial forecasts, such as income statements, cash flow statements, and balance sheets.
3. Physical Resources:
   • Location and Facilities: Describe the physical location of your business, including office space, manufacturing facilities, or retail space.
   • Equipment and Technology: List the necessary equipment, machinery, and technology required for your operations.
   • Inventory: If applicable, detail the types of inventory you will hold, suppliers, and inventory management systems.
4. Intellectual Resources:
   • Patents and Trademarks: List any intellectual property that the business owns or needs, such as patents, trademarks, copyrights, or trade secrets.
   • Research and Development: Outline any ongoing or planned R&D activities to improve products or services.
5. Partnerships and Collaborations:
   • Strategic Partnerships: Identify potential or existing partnerships that are crucial to the business.
   • Collaborations: Mention any collaborations with other businesses, institutions, or organizations.

So now we should have a team who can help you create the right type of business plan you need for your startup, now we need to conduct some research, which is done in the next blog.