How To Write An Effective Business Plan In 2018

Daniel Moayanda

It’s ideal for every entrepreneur to prepare or know how to write a business plan in Nigeria or anywhere else around the world. Whether you’re starting a business, running a business or about to expand a business, having a business plan as a road map to follow is crucial to your success.

Writing a business plan will help you achieve your entrepreneurial goals easier. It will give you a clear and concise path to follow through the course of your business executions, and will keep you focused on your target. Irrespective of achieving your entrepreneurial goals, having a business plan can be a great element to securing a bank loan and getting funding from an investor. You can find 10 comprehensive reasons to write a robust plan for your business here.

That said, here’s how to write a business plan in Nigeria or anywhere around the world that’d set you up for success and build investors confidence in your business.

• Executive Summary
• Business Description
• Market Analysis
• Design and Development Plan
• Organization and Management
• Service or Product Line
• Sales and Marketing
• Funding

Alberto G. Morrison

Whether you’ve already started on next year’s business plan or need a little nudge to start, here are a few considerations to include in your startup’s 2018 business plan.

⦁ Conduct market research

⦁ Write a business plan

⦁ Secure funding

⦁ Pick a location

⦁ Choose a business structure

⦁ Get federal and state tax IDs

⦁ Apply for required licenses and permits

Ways to Refresh Your Business Plan for a Successful 2018

⦁ Goals, goals, goals

⦁ Create your measurables

⦁ Plan your continuing education

⦁ Follow your customer journey

⦁ Brand evaluation

saravanan

1. Research and Marketing Strategy
2. Operations, Business Model, Law and Regulation
3. Financials: Budgets and Projections