Explore.
Break Borders.
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Test the Boundaries.
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Challenge the Status Quo.
Much text can be intimidating to look at. It is not recommended and should be avoided
However it is highly suggested you read through all of the following on this page....
By now you should have your own Registered Company and a Logo. The next step is to make a business plan. In order to do this you have to identify what it is exactly that you want to do. And how to go about it we will go through the various sections of the business plan and briefly explain what it entails . But before we get into it, it is important to understand that what makes a business plan good is how much depth of thought and the extent to which you have accounted for everything.
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Remember we are here to help you make a waterproof plan. It is important also to know that the depth of the business plan also depends on the type of business and it is possible that it could take months even a year depending on the nature of the business. It also depends on various factors such as whether it is going to be used to get funding from an institution or if it only for personal use as a point of reference.
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One of the main keys to success for us is attention to detail. Being intricate and being extremely meticulous and thorough. At VingHuit28 we believe there is no such thing as over planning.
It is a myth.
You must account for every possible scenario that may occur
​Step 2:
Tell Your Story
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It is critical to the success of your business that you understand that this plan has to be presented in the light that you would like it to be seen in. It is recommended that every aspect be accounted for and that it is also presented in an aesthetically pleasing manner.
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Your Business Plan is your juristic person's blue print, planning the course of life for your business. There is not one single way to make a business plan, it may vary in terms of certain aspects depending on the type of business, it's size and the purpose of the plan and therefore how much they cost will also vary.
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Business Plan Fee :
$ 3,750.00
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Lets go through the different parts of a business plan:
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But first watch the embedded video below to get a good general overview of what a plan entails
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Executive Summary
An executive summary is a general overview of what the business is all about. It is making a comprehensive sum-up of all the other aspects of the plan.
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The executive summary consists of:
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An introduction, where the founder can be mentioned and possibly what experience they have in their field
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A summary of what product/service is being provided
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Your :
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Vision: a statement of what you want to achieve with the business
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Mission: A statement of how you intend to accomplish the vision
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Objectives: You state a few milestones that will act as markers and set a clearly defined goal with figures
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Values: Morals and principles that the business will comply with to help achieve their business goals​​
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Market Analysis
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Target Market
The first part, falling under Market analysis is to identify an issue. You must have statistics to back up your identification of the issue, you must then present a solution to the issue that you had pointed out.
You may have to conduct a feasibility study. A feasibility study is an analysis of the practicality of a business plan, to prove that it is unique in some way from the competition, it is in demand or needed, and that it is realistic.
Part of the Market analysis is also researching and doing a S.W.O.T (Strengths, Weaknesses, Opportunities and Threats) analysis of the your competition, those providing similar products/services.
Secondly you must identify who your target customers will be. You must specify exactly who falls in this category, what their age range is, what their income is, their interests & hobbies etc.
In order to do this you may have to conduct some sort of data gathering activities such as questionnaires, interviews and surveys.
Operational
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Service Plan
The first part, falling under this section is to go into more detail using the objectives mentioned in the executive summary as a point of reference in order to specifically describe them into what is known as company Milestones , describing what it is exactly that you want to achieve, and by when you expect to achieve it, that will act as growth markers to the development and growth of the company.
Once the Milestones above have been established. The next step is to break down the plan into sections known as Phases. Typically there is a start-up phase , a growth phase, stabilization phase and an expansion phase. Depending on the scale and potential of the business these can be merged or further divided.
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What must be described here is a plan to account for the different aspects of growth such as:
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When staff volume increases
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Different Personnel & Roles
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Salary increases
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The premises being rented out increasing in size/or a permanent fixture being built upon a purchased land etc.
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The third aspect to be accounted for is the Operational & Service plan. Here there is a detailed description of the products or service. Which will describe:
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An in depth description of the product/services that will be provided, and what it entails/is composed of
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The machinery & equipment that will be needed
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Suppliers of the raw materials needed & quotations
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Production process of raw materials /Utilization of inputs
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An organogram of personnel, their duties and their labour rates
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All additional overheads/expenses and quotations to corroborate the pricing
Marketing
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Pricing Plan
The Marketing aspect of how VingtHuit28 goes about getting a product/service known is completely different and unique from typical Advertising/Marketing strategies using unorthodox methods. It is more detailed and is actually one of the main differentiating factors and has its own page. However within the context of a business plan the following would apply:
The first thing to establish are your Marketing Objectives. This is basically what you plan to achieve ( e.g. Obtaining 1000 followers on social media/increase website visits by 20% etc.)
Secondly based off of your previous study of your Target Market, you would establish exactly how you would plan to get their attention and draw them in. The different varieties of the product could be established to cater to different customer groups.
Thirdly is to determine the methods of:
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Pricing: This refers to how much you will charge for the product factoring in advertisement/promotion costs, packaging and delivery fees.
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Promotion: This refers to the campaigns that will be taken on to ensure the public is aware of the existence of your products/services. This also refers to all promotional material (further discussed on Websites & Promotions page)
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Placing: This refers to the areas that will be targeted and where exactly advertisements will be placed.
Financial Plan
If you are planning on getting funding from a bank or professional institution, the financial aspect is the central aspect that will determine whether you obtain funding for your business venture or not. If you do not do this part right all your other planning may prove to be redundant. Things like overstating your likely Sales forecast with insufficient proof, and not accounting for tragedies or a general lack of depth of thought are red flags. Any prudent investor/s who's well versed in funding will pick this up and will likely back out even if they like your idea.
The Financial plan begins with a cash flow projection. This is a calculated estimate of how the company will perform financially. This is the backbone off which all the other estimated financial statements will be made. It consists of
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The sales forecast ( which must be realistic & not overstated) for Gross Profit
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Capital/Long-term Assets ( Equipment, Machinery, Uniform etc.)
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Short term & recurring expenses ( Fuel, Cleaning Materials, Salaries, Overheads like rent & utilities etc.)