Business Plans

A business plan is simply a document that details how a business intends to achieve its goals. It has several components including an executive summary, company description, marketing plan, competitive and marketing analysis, organizational charts and others. A business plan serves the purpose of outlining your business goals and provides a step by step guide on how to achieve these goals. 

There are many types of business plans and these are classified according to the purpose they are intended to serve as well as their target audience. The most common types of business plans include; general business plans, strategic plans, operations policies, annual plans, and others. Which one you choose for your organization will be determined by the goals you want to achieve. For instance, a strategic business plan lists an organization’s objectives and outlines how it intends to achieve them. On the other hand, an operations plan deals with the day to day activities of an organization and the people who are charged with carrying out these activities.

Studies have shown that businesses with a business plan grow up to 30% faster than those that don’t. In addition, entrepreneurs with a plan are 152% more likely to start new businesses as opposed to those who simply have the idea in their heads. Business plans have many advantages to offer both startups and existing businesses including but not limited to the following;

• Providing direction: A business plan helps an organization chart the way forward and organize capital and resources in a manner that supports the achievement of the goals outlined in the plan. It also serves to convince investors and lenders that your organization is headed in the right direction and lets them know what kind of support you expect from them.
• Streamlines decision making: A business plan allows you to make decisions faster and more efficiently since it lets you know what your organization’s goals and priorities are. As a result, any decision you make e.g. resource allocation or staff deployment will be done with the end goal in mind.
• Helps you ask the hard questions: Starting a business is hard, and growing it until it breaks even or makes a profit might be even harder. A business plan allows you to think about all aspects of your business, ask yourself hard questions, determine which strategies will work best for you and decide whether following a particular course of action will bring you the results you want. 
• Helps you avoid becoming a statistic: Fewer than 50% of all businesses make it to their fifth year and poor planning is among the major contributors to business failure. Other factors that contribute to business failure include; cash flow issues, poor demand for your product or service, prices that are too high or too low and an inadequate workforce. Drawing up a business plan can help you avoid this by ensuring you carry out sufficient market research, forcing you to come up with cash flow forecasts and ensuring you put systems in place to maximize your chances of success.
• Makes it easier to secure financing: Investors, lenders and other stakeholders would like to know that their money will be in good hands if they lend it to you or invest in your business. One of the best ways to convince people to invest in your business is by providing them with a copy of your business plan so they can learn more about your business and how you intend to maximize returns on investor funds.

Bon and Drew Associates is committed to ensuring that our clients set up and operate their businesses successfully. Whether you are a startup looking to break into the market for the first time, or an established organization planning to launch a product or service, Bon and Drew can help. Our Business Plan writing service helps you come up with business plans that will guide your organization’s activities and decision making processes in order to ensure that you achieve your goals. We do this by;

• Helping you create comprehensive long term plans that will ensure the success of your business.
• Assisting you to prepare cash flow and sales forecasts, helping you create expense budgets, determining income projections and carrying out a break-even analysis.
• Helping you determine which areas of your business are performing well and coming up with growth plans to take advantage of these.
• Creating budgets to support your business goals and ensure your expenses are paid on time.Bon and Drew Associates is committed to ensuring that our clients set up and operate their businesses successfully. Whether you are a startup looking to break into the market for the first time, or an established organization planning to launch a product or service, Bon and Drew can help. Our Business Plan writing service helps you come up with business plans that will guide your organization’s activities and decision making processes in order to ensure that you achieve your goals. We do this by;
  • Helping you create comprehensive long term plans that will ensure the success of your business.
  • Assisting you to prepare cash flow and sales forecasts, helping you create expense budgets, determining income projections and carrying out a break-even analysis.
  • Helping you determine which areas of your business are performing well and coming up with growth plans to take advantage of these.
  • Creating budgets to support your business goals and ensure your expenses are paid on time.

Whether you are just starting out in business or are looking to grow an existing one, Bon and Drew will partner with you to draw up business plans that will ensure the success of your venture while avoiding the pitfalls associated with poor planning.