createmedia.ie brings you this simple, easy to follow business plan basics. Start your entrepreneurial journey today! For more resources & guides, including how to secure that all important funding, see www.createmedia.ie
2. #1. TITLE PAGE
OUR ADVICE
• Keep it clean – not boring
• Minimise text
• Include colour and/or pictures
INCLUDE
1. Your name
2. Company motto/tag line
3. Logo
4. Date
4. It’s your business plan so make sure you’re hap-
py with how it looks. It can vary from this to this
#1. TITLE PAGE
5. #2. EXECUTIVE SUMMARY
OUR ADVICE
• Although at the beginning of the report, this should be
written last.
• It should highlight all the goals and milestones that will be
achieved.
INCLUDE
• Purpose of the business plan
• About your company
• About your product or service
• Marketing
• Management
• Financial projections
6. #3. BUSINESS DESCRIPTION
OUR ADVICE
• It’s essentially a longwinded version of your
summary
INCLUDE
• What is your current outlook?
• What is your future outlook?
• What are your objectives?
• How will you achieve them?
• What is your overall goal?
7. #3. BUSINESS DESCRIPTION
OUR ADVICE
Have a definite end goal. It should be:
o Realistic
o Challenging
o Positive
EG. IKEA
“The IKEA vision is to create a better everyday life for the many peo-
ple. We make this possible by offering a wide range of well-designed,
functional home furnishing products at process so low that as many
people as possible will be able to afford them.”
8. #3. BUSINESS DESCRIPTION
OUR ADVICE
• Acknowledge your competitors
• Every company has a competitor, make sure you
are aware of yours. Be aware of your market
• Are there new products coming out that will
affect yours?
• Know your market inside out
9. #4. MARKETING STRATEGY
OUR ADVICE
• Do your research
• Have surveys or pilot runs
• Knowing your market is key
• Nobody will invest if there isn’t a market for your good/service.
INCLUDE
• The five C’s
• Customer (and user)
• Company
• Competition
• Collaborator
• Context
10. • Customer (and user)
– These may be different, customers are those that give you your profit, and the
your user... uses it! Market size and growth. How is your product purchased Know
consumer trends
• Company
– Can the company meet the customers and users needs?
• Competition
– Who competes with your company?
Draw up a table so you can compare and contrast.
Knowing your competition helps strengthen your business and allows you follow
others strengths and improve on their weaknesses.
• Collaborator
– Who else do you need involved?
Get strong relationships from the start, loyalty will stand to you. Manufacturers,
distributers, suppliers etc.
• Context
–What external factors influence you? PESTEL Analysis
11. PESTEL analysis
• Political: Legislations, trading policies, funding and grants,
government policies etc.
• Economic: Home and overseas economy, trends, tax issues,
interest, exchange rates etc.
• Social: Media views, lifestyle trends, demographics, ethics etc.
• Technological: Maturity of technology, research funding,
information and communication, manufacturing capacity etc.
• Environmental: Weather and climate change, creation of new
markets and diminishing or destroying of existing ones.
• Legal: All aspects of the law relating to business; contract,
consumer, employment, health and safety etc.
13. • Price
– What is the cost to the consumer of your good/service? Is it price sensitive?
Are you willing to offer discounts?
How does your cost compare with competitors?
• Product
– What does the consumer want from the product and what do you need to do to
meet this? What are the aesthetics of the product? – (size, colour, branding) How
is it different to your competitors?
• Promotion
– What medium will you use to reach your market?
Where and when can you send messages to your market?
How do your competitors promote? – Does this influence your promotion?
• Placement
– What methods are you using for distribution? Are these the right methods or do
you need access to others? Where do consumers look for your product?
What are your competitors doing? Can you improve or change from that?
#4. Marketing Strategy
14. #5. COMPETITIVE ANALYSIS
INCLUDE
• A SWOT analysis
• STRENGTHS: Your product, team, expertise, process,
reputation?
• WEAKNESS: Lack of knowledge, poor technical support or
product quality, weak management?
• OPPORTUNITIES: New market, weak competitor’s, strong
economy, emerging technology?
• THREATS: New competitor, products or regulations, price
competition?
15. #6. DESIGN & DEVELOPMENT PLAN
OUR ADVICE
• Have a lot of research in your development plan completed
• Explain the technology that you will require and what the current status is of
your product – what is needed to make it marketable.
INCLUDE
• Answer the following
• Are you able to do it or will you require expert help?
• Who else will be involved in this work?
• What are your current difficulties or risks and how will you overcome these?
• Is there any ongoing research into your product? - Are you doing enough to
stay competitive?
• Do you require or are you seeking a patent, trademark, copyright?
16. #7. OPERATIONS & MANAGEMENT PLAN
INCLUDE
• Answer the following
• Where is the current or desired location of the business?
Why here? Advantages or disadvantages associated with your
location.
• What space requirements do you have?
• Do you have the required equipment?
• What is your manufacturing process – can you complete it or is
it contracted? Detail.
• What employees do you have?
• Is this a sufficient amount or will you need to expand?
• What skills do you require and in what section are they
needed?
• In this section you should also include any relevant regulations
coming up that may affect your business.
17. #8. FINANCIAL FACTORS
OUR ADVICE
• Make sure your cost are as accurate as possible at the time of
sending out your business plan.
• Your cash flow projections should cover the first three years, if
you are confident about further projections include them.
• Don’t include extra years for the sake of it
INCLUDE
• Answer the following
• How will you make money?
19. END: APPENDICES
OUR ADVICE
• Include any extra information that doesn’t fit specifically into
your plan:
INCLUDE
• Your CV
• Full company accounts
• Your full market research
• Promotional material
• Anything else you want included
