Even if it is only written last, a good business plan is preceded by a summary of the business idea (Executive Summary). It comprises one to a maximum of two pages and concisely summarizes the entire project. Basically, the most important parts of each of the following sections should be included here shortly. The more interesting and logical the Executive Summary is written, the better it draws attention to the business project. This section is primarily intended to get bank employees and potential investors to even take a closer look at the rest of the business plan.
The personalities of future entrepreneurs will determine the success of the start-up project. The presentation of the founder and the founding team is therefore also of central importance. This should include a detailed curriculum vitae including an overview of qualifications and experience. This information enables investors, business partners and banks to assess the people to whom they give money and with whom they will cooperate in the future. Information creates trust.
It is best to describe the business idea in simple words in such a way that everyone really understands it. The benefits that the business idea — i.e. the product or service — has for customers must be identified. Just as the profit should come about. This is about what makes the planned offer something special. But also about peculiarities in manufacturing, new production methods, sources of supply of primary materials as well as cost structures, price expectations and profit margins.
This section is at the heart of a business plan. He must convince the house bank or investors. This is about a description of market positioning, unique selling points and pricing. Because even the best offer is unsuccessful if no one is interested in it or if the established competition is too powerful. This is why a well-founded analysis of the market environment is required, which identifies the target group and their needs. The characteristic features of the target market, who the customers are and what the expected sales volume and volume of sales are to be presented. Which other providers are active in this market and why customers will opt for the new company in the future round off this chapter.
When should the key milestones happen? This is about the most important measures that are to be implemented. It is about specific goals and how and when they are achieved. For example, the date and procedure for a planned restructuring and business opening.
Attention: This is also about clarity so that outsiders can understand the timeline.
In this section of the business plan, it must be clear that there is a market for the new business idea and how it should be addressed. There is no need for a detailed marketing plan. The 4 P's are sufficient: Product (production policy), Price (pricing policy), Place (distribution policy) and promotion (communication policy). The description of market entry strategies belongs here, i.e. how future customers find out about the new offer and how they should be convinced.
Describe the legal form of your company as well as the ownership and share structures. If necessary, address existing branches and special features of the organization of your company.
If you plan to hire personnel, information about the skills required by key employees and other permanent or freelance employees is also of interest. In view of a shortage of skilled workers, it should also be explained how they can be recruited or whether the first interesting people are already available. This gives readers of the business plan an idea from the future team.
Last but not least, it concerns financing the new company. The financial plan consists of these sub-plans:
A SWOT analysis proves the corporate strategy: strengths, weaknesses, opportunities and threats. If the SWOT analysis is available, explanations are still missing as to how these findings are handled. This includes explanations of how strengths and opportunities should be implemented in the best possible way. And, of course, what countermeasures can be taken to minimize weaknesses and risks.
If the start-up project is production-intensive, a separate chapter should be included in the production plan. A description of future production is required: Which production facility is needed, which machines or production lines are required? Work flow planning with the individual processes and production steps from production preparation to work and demand planning to equipment production and procurement should be explained here, at least roughly.
Tip 1: So that no important aspects of the business plan are forgotten, it is recommended to work with a template. Free templates are available from various providers, including on the Internet, for example on the”Founder's platform“: Free business plan template — PDF, Word, Excel examples!
Tip 2: During NRW.BANK's consulting and funding meetings, you can clarify questions about financing with a local advisor. Attendance is free of charge. More information is available here.
As a neutral sparring person, the consultants of NRW.BANK are primarily available to assist founders with questions relating to financing. The consultation is free of charge.
The NRW.BANK Service Center team will be happy to answer any initial questions (tel.: 0211/91741-4800//Mail: info@nrwbank.de).
