9 easy steps on how to write a successful business plan

Business plan is very important for the success of every company. It helps the company to stay focused, to attract investors, to have a winning venture, to expand, and to attract adequate funding. It is the first step in running a successful business.


But then, you can ask a question, “how can you write a very successful business plan”? The good news that you don’t need to have a degree in business management for you to have a successful business plan. Anybody can write a business plan, be it a person or group of persons responsible for starting up the business.

Before we talk of how to write a successful business plan, let us first of all consider what a business plan is all about. Business plan is a written document that describes the type of business that a company is doing, the marketing and sales plan of the company, and the financial details of the company. It is very important in selling your company to potential investors and bankers. This document is subject to changes and updates at any given time and it should be made very easy to read so that customers can easily understand it.

To write a business plan, you have to
•    Research and analyze your product
•    Determine the purpose of your plan.
•    ensure your company have some type of viable commercial potential
•    Create a quality company profile.
•    Have a strategic marketing plan

There are important features of business plan, namely:

1. Executive Summary

The executive summary is a brief overview of your business and plans, and it is ideally only one to three pages.

  2.   Mission statement

The mission statement should include your aims and objectives that will lead you toward it. This is where you sell the features and benefits of your company. Try to make it as simple a s possible.

    3. Products and Services

This includes information on what the company produces and what they plan to do with it. This is also where you describe the benefits of your business.

   4. Opportunity

This is a chance to discover and describe the benefits of your products even in the midst of competitors.

  5.  Execution

This is where you carry out your already well laid out plan an turn your business into a success. This section will discuss your marketing and sales plan, operations, and your milestones and metrics for success.

    6.Company and management summary

Investors look for great teams in addition to great ideas. Use the company and management chapter to describe your current team and who you need to hire. You will also provide a quick overview of your legal structure, location, and history if you’re already up and running.

   7. Financial plan

Your business plan isn’t complete without a financial forecast. We’ll tell you what to include in your financial plan, but you’ll definitely want to start with a sales forecast, cash flow statement, income statement (also called profit and loss) and your balance sheet.

    10. Appendix

If you need more space for product images or additional information, use the appendix for those details.