What Is A Business Plan For A Startup?
The business plan for a startup constitutes the founders’ 5-year vision statement of how they want to build, grow, and scale the business.
A business plan is the most crucial element for any business. It shows a clear roadmap of your future vision and mission. In simple words, the business plan of a startup suggests how the business will grow or how it will start. All the requirements, needs, and plans of the business or startup are counted in and placed logically in the business plan.
Moreover, it includes the what and how of a business. Be it revenue, team, users, pricing, marketing, lead generation, sales, target audience, number of cities, number of offices, and so on.
Remember, business plans for startups and full-fledged businesses are different. Because their needs differ. Their requirements differ. One more critical thing to note here is business plans differ from business to business. No business remains exactly the same. Thus, don’t ever try to copy the business plan of someone else’s corporation. Either take the help of Business plan services or do it yourself. But be very specific about your business plan.
Why is it important?
No investors can understand your business without the business plan statement. Because this document highlights the:
Revenue Model
Valuation
Go-to Marketing Strategy & Funnel
Cash Break even point& Operation Break even point
Cost Structure, Capex & Opex
Unit Economics
Products the company will sell & the margins
Exit Strategy
How Does LFS Help In Creating Business Plans?
Business Plan consultant services of Lakhani Financial Services are honored as one of the best business plan services in India because of our prominent contributions to numerous startups. Our business plan consultants strive for new ideas and insights to nurture your startup.
Valuation
Our simple yet effective business plan developing procedures help in the valuation of your startup in the initial phase.
Strategizing
Strategies drive the startups, and if your methods are not on the right track, how do you think your startup can win the game? Investors ask for the strategy, and we make sure that you have the best methods to keep your startup in the game.
Fundraising
We help you to develop a business plan that will attract investors and aid you to raise funds for the startup
Logic
A business plan is the whole game of numbers, and if the logic, reason, and rationale behind the numbers are not relevant, your business plan will not succeed. Our consultants assist you to build a complete and logical business plan for the startup.
Detailed Analysis
A business plan must include your vision and mission from the business perspective. Our consultants help you understand the how, what, and why of your startup from a business viewpoint.
Simplify
Our expert and experienced business plan consultants break the complex aspects into small modules and simplify the process for you. Small modules are much easier to understand and help in the easy generation of business plans.
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FAQ
In most simple words, a Business plan is a 5-year vision statement of the startup founder. It’s no less than a roadmap of a startup.
A business plan defines a startup founder’s goals and plans From the marketing, financial, and operational perspectives, a business plan is a documented financial roadmap for the company’s business plan is a critical document that is used to entice investors. It helps the investors to understand the founder’s goals and vision in its entirety.
In simplest words, a business plan is a clear financial plan that indicates the complete strategy, tools, rents, structure, salaries, onboard game, etc. Firstly, a business plan helps a startup founder understand his real vision. Secondly, it helps investors to understand the what and how of business.
The value of a business plan has long been disputed in the business world, and most participants are aware of the “soft” arguments. We evaluated well over numerous different sorts of organizations, and I’ve come to a similar conclusion. With extensive experience in business plan preparation, we can guarantee the importance of a business plan for a startup.
Having a business plan appears to considerably increase the likelihood of success in fundraising manifolds. Moreover, experts in business plan consultants services agree on the following four conclusions:
- Startups which develop business plans are 4 times more likely to get funding.
- Startup founders who develop business plans stay in a stronger position to execute the plans rather than having no business plan.
- Angel investors and venture capitalists place high importance on startups having logical business plans.
Yes, it’s crucial to have a business plan. As explained earlier, a business plan can boost your chances in fundraising manifolds. Thus, try to take the help of business plan consultants services if you can or do it yourself if you know.
Mostly, startup founders pick a template and fill it but are they able to explain that template to investors? No, because they remain unaware of the logic themselves. Thus, I’m again saying, find the best business plan preparation India service providers to get the best and efficient plan backed with logic and rationale.
We as business plan consultants service providers never promote practicing CA preparing a business plan. Mostly, Chartered Accountants follow the basic or DCF method for valuation. Moreover, their templates are for bank loans, such templates are not for equity funding. We never stimulate the Discounted Cash Flow method because DCF is not for early-stage startups.
Yes, you may use it. But a projection sheet made by hardcoding of numbers will most possibly not work. But we would like to have a look at your projection sheet first before reaching any conclusions.
Yes, of course, valuation is included in the business plan. We at Lakhani Financial Services employ 4 different methods for the valuation of your startup. With regular meetings with startup founders, we come up with a valuation. Instead of following vague methods to come up with a valuation, we evaluate a startup logically and help the investor understand why your business will grow and how it will grow.
At Lakhani Financial Services, the process of business plan preparation is pretty complete, detailed, practical, systematic, and right from an investor’s perspective. Generally, we sit with startup founders, ask them tons of questions about their vision, mission, along with all the tiniest details not just for fundraising but to let the founder know their business and vision clearly.
It’s like unveiling every single nook and corner with open eyes and hands. So, our process consists of many steps and it goes on for 5-7 days.
Our process of business plan preparation in business consultants services includes the following information:
- Revenue
- Income
- Organizational structure
- HR operations and management
- OPEX
- CAPEX
- Cash flow
- P&L
- Executive Summary
- Unit economics
With all these data pointers, we help investors learn and understand how they will grow with all the reasons and proof.
Google templates don’t validate the whole information. Thus, investors find it difficult to understand the data points. Because the source of income is not clear there. Thus, having the business plan consultants services give a cutting edge to your business plan and help you stand out in the race of the above-mentioned is our process. But we don’t guarantee other firms but we build your business plan right from scratch in an excel sheet. So that along with investors, startup founders can also understand all the expenses and processes properly.
Our business plan services involve startup founders for at least 5-7 days. In these 5 days, we brainstorm a lot, let the startup founder pour their mind out, build an analogy, and finally the business plan.
After the complete business plan consultants services, it takes around 2.5-3 months.
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