Road Map to draft a professional Business Plan –Venture Care Road Map to draft a professional Business Plan –Ve | Page 3
Whether IP has been taken on the product?
How product maturity shall be tackled?
What will be the R&D cost and maintenance to the business?
Industry
Industry dynamics always change. The business plan must include the probable changes and the
way to overcome those changes. Key success factors should be identified and should be mentioned
that how the company will go forward. The complete industry should be categorized into segments
and sub-segments and accordingly, the customers should be identified. This section must include
also:
Who are the targeted customers?
What is the size of the targeted customers?
Who are the competitors? (in numbers)
What is the expected market share for this product/service?
Marketing
Many business plans usually say that what marketing channel shall be used to market products/
services. But a sound and explanatory business plan should clearly express that HOW MARKETING
WILL BE DONE, WHICH CHANNEL SHOULD BE ADOPTED AND THE EXPECTED TANGIBLE
BENEFITS WHICH THE COMPANY WILL DERIVE FROM IN TERMS OF GROWTH OF CUSTOMERS.
This section should answer the following also:
Why the customers will need it?
How the potential customers can be reached?
Can the customers manage their business operations without this new product/service?
Does the price (cost to the customers) of the product/service justify the benefits?
Threats
No business can avoid threats. It should be mentioned that how the possible threats should be
handled. Answering the following questions may be beneficial:
What could be the potential threats?
How frequently it can come?
What will be the level of impact of the threat to the business?
How the company will overcome it?
Financials Financial plan is one of the crucial aspects because ultimate objective is to raise finance
and use it for various purposes. How much finance is needed at which place should be mentioned?
The following should be included:
What will be the promoters’ contribution?
For what purpose the promoters’ money shall be used?
What will be the exit option to the investors?
To conclude,