Topic: The Structure of Your Nigerian Business Plan.
Outline:
1) What is a Business Plan.
2) The Structure of Your Nigerian Business Plan.
3) Best/Top Business Plan Writers in Nigeria.
4) Best/Top Business Plan Writers in Lagos.
(1) What is a Business Plan.
A Business Plan is a written document describing the nature of a business, the sales and marketing strategy, the financial background, and containing a projected income and expenditure statement for up to 5 years.
Business Planning is the process of determining a commercial enterprise’s objectives, strategies and projected actions in order to promote its survival and development within a given time frame.
(2) The Structure of Your Nigerian Business Plan.
In Nigeria, your business plan is vital to establish the structure of your business, its aims and objectives, strategies, products and staffing. It is used to plan and manage your business, apply for funding or show to potential investors. It has ten main parts and these are:
1. Cover and index - Business Plan Writing in Nigeria.
Sounds a little silly, but a great cover to your business plan will show the professionalism and care that has gone into its production. It is also the ideal place to include your company logo and contact details. If appropriate, include photos of your products.
Vitally you should also include your company name and number as well as your contact details such as address, website, social media accounts, email and phone number of your relevant director. You will be surprised at the number of people that forget this feature.
To help potential investors to navigate around, the index must include all the points of the business plan with the corresponding page number. Make it as complete as possible so that the reader has a clear idea of what the document contains.
However producing the index also gives you, the writer a great planning tool to ensure that you include all the points and information you need to include.
2. Executive summary (with the needs and objectives of your business) - Business Plan Writing in Nigeria.
In the first part of the document you must make a descriptive summary of the idea that includes the following points:
• The opportunity in the market
• The product or service and its advantages
• The management team
• Financial summary, the financing needs and expected profitability.
Remember, you need to capture the attention of investors in approximately two pages where you will summarise the most important points of the text. You must also take into account several things:
• Vitally you must define the need or problem that your business intends to solve.
• You need to define the fundamental objectives of the company.
• You need to tell the investor at what stage your company currently is. Whether you are pre-production, starting to expand or in profit.
3. Plan out your business - Business Plan Writing in Nigeria.
Here is the point where you get your scrap paper out.
• You must describe the mission of your business - that is what you hope to achieve. Then you need a list of actions that your company needs to get to this point.
• Next you need to work out how you will solve the business problems you have identified.
• Now describe what your product or service is, and what customers will get with their purchase.
• Discover what price point your potential customers will be comfortable with.
• You need to discover how you can find these customers in Nigeria.
• Usually there are already companies that are working for the same goals. Identify them and ask yourself: How am I going to differentiate myself from my competitors?
4. Explain the structure of your business - Business Plan Writing in Nigeria.
• Describe what you will be selling to whom and at what price point.
• Introduce your branding concepts - are you going to be a luxury company for example or pile it high and sell it cheap kind of company?
• Describe how you will fulfil an order - in other words, the whole process from purchasing the products yourself to actually delivering them to your customer and offering after service.
• Clarify how you will cover the main areas of production, sales, marketing, finance and administration.
• Include management, sales, stock control and quality control accounts.
• Define how you will sell your products and analyse, if necessary, the location of the company and the advantages and disadvantages of this situation.
5. List the characteristics of the market in which you will develop your business - Business Plan Writing in Nigeria.
You will have to analyse the market conditions: how big it is, how fast it is growing and what its profit potential is.
Answer the following question: Where are you going to find your customers in the Nigerian Market?
Marketing Strategy:
6. Devise promotional strategies - Business Plan Writing in Nigeria.
This is where the marketing plan of your business should be included. It is perhaps one of the most relevant steps when making a business plan in Nigeria. Promotional and marketing strategies could determine the success or failure of your company in Nigeria.
Try to answer several questions:
• How are you going to position your product or service? This is where you want the 4 Ps of marketing: Price, Product, Promotion, and Place.
• Compare features such as price, quality and customer service with your competitors.
• How are you going to sell to your customers? Phone, web page, face to face, agents?
• How will you identify potential customers?
• How are you going to promote your business in Nigeria? Advertising, public relations, email marketing, content strategy, social media etc?
• What benefit will each part of your business achieve?
• Why is someone going to abandon your current competitors to buy in your business?
• How are you going to attract them to your company and its products?
• What is a fair estimate of the number of customers you will achieve each year for the first three years?
• What will be your estimate of the cost of attaining each new customer?
7. Define your source of income - Business Plan Writing in Nigeria.
This is where you put down all the information about what your company will be selling and where the source of income will come from.
8. Your team - Business Plan Writing in Nigeria.
Here is where you wax lyrical about the strength of your directors and major staff. Include their experience in similar posts and what they can do for your fledgling company. Include basis resumes for each of them and state their responsibilities. Also include a profile of yourself.
9. Your financials - Business Plan Writing in Nigeria.
When you reach this point when making your business plan, you should start translating everything you have said into numbers. That is, analyse the financial forecasts of your business. Also include your financial strategy - how you will manage your cash flow, vital for any new company in Nigeria. If by any chance you experience high unexpected success, your goals may suddenly change and you will need a new business plan.
You should include any other investments you have or are going to receive. Details of your share allocations, particularly large percentages, should be included.
Creating a business plan involves writing many pages with attractive, dynamic and precise texts that capture the attention of very demanding people. It should attract the attention of investors, who despite having read hundreds of them must find something unique in your business plan.
Business planning is very complex and we suggest you use the services of a professional business plan consultant and writer who can work with you to define all this required information. BusinessOntop has written many business plans for new and expanding companies in Nigeria.
(3) Best/Top Business Plan Writers in Nigeria.
BusinessOntop Nigeria is the best/top Business Plan Writing Company in Nigeria. If you need the best Business Plan Writers in Nigeria, then you can contact them.
(4) Best/Top Business Plan Writers in Lagos.
Do you need the best Business Plan Writers in Lagos? Look no further. BusinessOntop is the best Business Plan Writers in Lagos state with years of experience.
The aim at BusinessOntop is to assist small, medium-sized, and large companies/businesses in Nigeria that are looking forward to having a professional business plan, Feasibility Study, Company Profile or proposal. They have very good past jobs that have been edited and would be sent to you. Their past jobs would prove to you that they are the Best Business Plan Writers in Lagos Nigeria.
They would write the business plan for you themselves! That’s right, not a business plan software! They would ask you the necessary questions needed to accurately write your business plan and we would also give you professional advice where needed.
You will speak directly with a professional business plan writer who would ask you more about you and your business.
They also write Business Plans for BOI.
