A business plan is an essential tool in the life of any company, whether at the conception and launch phase, or throughout its life in the marketplace. A business plan has to be far more than a spreadsheet summarizing expected expenditures and, earnings, with respective profit forecasts and financial indicators.
The NYB Consulting team has vast experience in drawing up business plans and providing consultancy on how to implement them. That experience has been gained by working with major companies involved in international business, as well as with SMEs operating on a smaller scale.
A business plan must include and clearly set out the following:
• The company, its object and future aims;
• Business development strategy;
• Products and services provided;
• Market, including target customers and competitors;
• Marketing plan;
• Organizational and administrative elements;
• Risk analysis;
• Financial plan.
A business plan must therefore be tailored to suit the business for which it is intended. Some elements can be more detailed than others, depending on the purpose it serves (for example, obtaining bank loans or attracting strategic partners and investors).