Whether you plan to create a business, take over an existing structure or launch a new business, it is in your best interest to write a business plan. Sometimes decried, this document nevertheless remains essential. It allows you to validate many points of your business project and above all, it will help you convince your future partners (banks, investors, suppliers, etc.).
The business plan: what is it?
The business plan is often mistakenly confused with the financial forecast. In reality, the forecast is only part of it. It generally includes a balance sheet, an income statement, a cash budget and a financing plan. This financial component is supplemented by another.
The other part, on the other hand, is economical and descriptive. It takes the form of a note in which you will present your offer of goods and/or services, the market in which you will evolve, the customers you are targeting, the competitors you will have, the business model you will deploy. , the team around you, etc.
It is important to well understand what a business plan is before embarking on its design. Indeed, it should not be seen as a constraint or an administrative obligation, but really as a real decision-making tool.
How is the business plan useful for a business project?
The business plan is THE essential document for any business project, whatever it is: business creation, business takeover or business development. In particular, it makes it possible to precisely quantify financing needs. But not only: it is an excellent communication/negotiation support and a very good management tool.
If you are in the creation phase, it will allow you to measure the profitability of your project. Furthermore, it will facilitate the validation of some of your creation choices (profit tax regime, social status of the manager, etc.). By the way, he will serve as support to obtain a bank loan or bring investors into the capital of your company.
When you take over a business, the business plan can be used to convince a bank to grant you a loan to buy back the shares. It can potentially validate a financial package: creation of a “head of the group” holding company, buyback of securities using bank financing and payment of dividends, etc.
How to build a business plan?
Several solutions exist at this level. First of all, if you have use an accountant, you can ask him for an estimate so that he can accompany you in this task. This is the professional best placed to help you, even if his intervention has a cost.
If you have solid knowledge in the matter, you can establish it yourself, using a spreadsheet (Excel for example) for the financial part and power point for the economic part. If necessary, many sites offer online models and tools (sometimes free but more generally paid).
That said, remember one thing: whatever option you choose, be sure to actively participate in the development of your business plan.
“Make a business plan allows you to put your thoughts in order and of structure your project. Admittedly, it is built on forecasts having, by nature, a random, uncertain and subjective character; but this document will help to reduce the risks. Thanks to it, you will ensure that nothing will have been left to chance “. (Source : Business plan guide)
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