Any fund raising application will almost certainly require the submission of a Business plan. Business planning covers all import aspects of any Business Plan.
“Planning gives you a chance to make your mistakes on paper before you make them real.You can test your business proposition before you commit action.
Different Phases in Business Planning is as follows-
Market need & opportunity:
Determining unfulfilled need, Market gap, Opportunity, Target customers &demographics
Market size & analysis:
Thorough analysis market size, growth rate, market share etc.
POD of product, Dynamics of the product, Competitors analysis, SWOT analysis etc.
Summarizing your GO to Market strategy.
Define with respect to 4P’s-Product, Pricing, Place and Promotion Mix, 7P’s for service offerings.
Lay out the design and development plans .
Chalk out the revenue channel and revenue model.
Financial planning will help show how profitable your business proposition is; How itgenerates cash and when (and how much) additional funding may be required.
Provides 5 year projection.
KEY ASSUMPTION SHOULD BE STATED CLEARLY.
Financial Forecast would include:
Profit and Loss account
Cash flow statement and analysis
Risk Factor analysis:
sensitivity analysis – what if situations