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A-Z Guide How To Write A Business Plan Like A Pro In Nigeria

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How to write a Business Plan

The need for a business plan in every business cannot be overemphasized and no startup does well without a business plan. Whether you’re starting or growing your new business, writing a business plan is a must for the growth of that business. Your Business plan will provide the roadmap to achieve the success you want. The question here now shouldn’t be IF you write your plan, but how to write a business plan that will take your company to the level you want it to go.

Your business plan is simply your answer to the comprehensive list of questions. The first and most important question is this: where do you want your business to go? Stated differently, what do you want your business to look like in two, three, five or even 10 or more years? What level of income/revenues and profits do you have at that time? How many employees are employed? How many locations is the company operation on? And so on.

Generally, your business plan should be to answer these questions for a shorter period of time, particularly one year. That is, what are your business’ goals for the current year, and what must you accomplish to make the year a success for your business.

In answering and to answer these business planning questions, you naturally have to answer questions pertaining to each of the core business plan sections as follows:

  1. Company Analysis: Your Company has a product or service to offer to the public now right? What are they and/or what will you develop and offer in the future for the growth and betterment of the company?
  2. Industry Analysis: what is the size of your market? How big is your target market and how are they changing with time? What are currently and what will be the future trends are affecting them and do these trends bode well for your business in the future?
  3. Competitive Analysis: who are your industry based competitors and what are each of their key strengths and weaknesses? In what areas of this do you have or gain a competitive advantage? And How are you going to do that?
  4. Customer Analysis: who are your perfect and target customers? What are their demographic ( age, race, level of education, sex, economic status, among others) and/or psychographic profiles? What are their needs? Can and are they ready, willing, and want your product?
  5. Marketing Plan: What are the ways and how will you reach your target customers? What promotional tactics, logistics, and marketing channels will you employ in your business? How will you place price tags for your products or services? What is the brand positioning you desire for each?
  6. Management Team: who and who comprises your current team for the best development of your business and what key hires must you make in order to execute on the business opportunity in front of you. Are you going to build a Board of Advisors or Directors for your company? If so, who will you seek and why?
  7. Company Operation Plan: what is the proposed company your action plan? What are the areas and milestone you must accomplish to go from the current position your company/business is now to where you want it to be at year’s end? At the end of five years or more?
  8. Financial Plan: how much external funding (if applicable) do you need to build your company? In what areas will these funds be invested and how are these areas rated according to their order of importance? What are your projected income/revenues and profits over the next one to five years of your company existence? What assets must you acquire to make your company stand?

Giving the right Answers to the questions in these eight principal business plan sections helps you come up with specific business goals. They also help you with the best answers of the most important question to add or include when you write the Executive Summary of your business plan for your proposed business, which is this: why is your business uniquely qualified to succeed after start up?

Now you know that there are so many reasons why your business might be uniquely qualified to succeed after launch. For instance, it could be the standard, high or the quality of your management team. Or the unique technology you’ve adopted or the partnerships you created during the company set up stage or after launch. But importantly, if your Business plan have no unique qualifications to succeed, it will be very easy for your industry competitors to steal your clients or customers, market share at any time, or at worst beat you hand down in business.

So, if all you’re thinking right now is about how to write a perfect business plan, sit down and start answering the outlined questions above. It’s the thinking, crafting and strategizing part of biz plan which is actually more important than the writing part. Or better still call us on +2347037281050 and we will help you with any type of business plan at affordable price.

Sure, if you want others, investors, sponsors, etc to read and/or fund your business, your plan has to read perfectly well and be put in the right and proper format. But it’s the content in the business plan that matters most, your strategy and whole reasons why you’ll succeed depends if you have a good business plan that will prompt partnership, investor, etc to invest or otherwise join you in your conquest to build a brand new thriving business!

NOTE: We are professionals in writing business plan for small, medium and large scale industries. Take advantage of this now and save yourself the risk, time, and energy of trying to do it yourself. The reasons are that you may end up losing more money, effort and time if you make any mistake in it. Our business plan consultation price is cheap plus we will call you, ask questions regarding your business and guide you properly and finally produced the written plan for you after proper review and market research. Try us today! Call +2347037281050 or Contact us

Have any other questions or suggestions about how to write a business plan? Please drop your comment in the comment box below.

 

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Business Plan

9 Sections of a Good Business Plan | Outline of a Business Plan In Nigeria

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How to Give a Perfect Elevator Pitch And Get Funded Immediately

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How to Give a Perfect Elevator Pitch And Get Funded Immediately in Nigeria

You’re an entrepreneur who just provided a solution to a problem and currently looking at getting investors to fund your startup?

You want to get every investor that hears about your project to fund you almost immediately or lose out from investing in you?

Want to learn how to pitch your business?

If you fall into any of these categories, then, this article is for you.

In this article, you will be getting expert advice on how to pitch your business to investors from an entrepreneur who raised close to $1 million.

Caroline Cummings shares her pitch secrets, techniques, and tools in this free eBook, “How to Pitch and Get Funded.” Immediately.

If you’re ready to learn how to pitch your business to investors, but need some help figuring out how to build your pitch, then, you need to watch the brief video below from Bplans.

You should understand that

Elevator pitch is a simple phrase used to describe the little time given to startup founders to quickly explain their business to interested investors or potential clients.

Related: 5 Easy Steps to crowdfunding success in Nigeria

Brief of What you will learn from the Startup Elevator Pitch Video:

  • How to pitch your Business
  • How to deliver an elevator pitch

The primary purpose of every elevator pitch is to get funded and raise funds to start running your startup into a full-blown business.

In your startup pitch, you must be able to mention the following things in the shortest time.

7 Steps to Giving a Perfect Elevator Pitch in Nigeria

  1. You need to cover the Problem: You must point out or list out the problems on the ground that led you into birthing your startup in the first place. What is the daring desire, problems the environment is facing and then,
  2. The solution: Here, you must talk about the solution your startup provides and you must start with the best solution your product/service solves. How does your startup solve the problem you mentioned above? Don’t create a product that tries to solve too many problems at once.
  3. Talk About Your Target Market: Here, you must mention the people, demographics that your product is meant for. Who and who is your product meant for. How many people are in this audience/market you’re targeting and how much are they spending?
  4. Competition: Every business has competition and as such, you must mention all your potential competitors already existing in the market and how you intend to beat them. If you think you don’t have a competition, then you are just not thinking hard enough about this. Your competition can be direct or indirect depending.
  5. Your Team: Who are the people with you in this project? Have they done anything relating to such in the past?
  6. Financial Summary: what is the cost implication of your startup? How much does the investor need to put in and what are his returns? This is where many business plans fail because they use unrealistic figures and in the end have their business plans thrown away. So, while making an elevator pitch for your business to an investor for funding, you must provide simple and accurate financial values.
  7. Milestone: At the end of your Elevator pitch in Nigeria, you should be able to talks about your goals and when you intend to achieve them. Have you reached the milestones? Have you done anything or achieved any of the visions in your business plan? If you have, list them out.

Below is the Video for giving the best Elevator Pitch In Nigeria.

 

Also Read: The best way to prepare for Investors

There are certainly other components you can include in your pitch, but these seven are really the “must-have” pieces, whether it’s written down in a pitch deck presentation or literally delivered as a speech in an actual elevator. If I’ve missed anything that you think is critical to include, please let me know in the comments.

View This As an Infographic:

 

The 7 Key Components of a Perfect Elevator Pitch by @noahparsons from Palo Alto Software

Your elevator pitch must be clear, concise and compelling. You should be able to explain everything (7 points above) in 60 seconds. Remember, you don’t have all the time and as such, go straight to the point and cut all long stories.

 

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Get Your Best Business Plan at Affordable Price

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entrepreneur nigeria blog at www.entorm.com

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