What Makes A Good Business Plan

What Makes A Good Business Plan-13
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The purpose and typical content of a business plan is covered in Module 9 of the TC Finance course.

Examples of business plans online provide useful background and some additional examples of plans, but students should remember that only the module content is examinable.

A good business plan should outline all the costs and the downfalls of each decision a company makes.

Business plans, even among competitors in the same industry, are rarely identical.

Good plans should cover all the key areas of the business, be easy to read and answer any questions potential investors might have.

There are three main factors that determine how well they are written: A business plan should make it very clear from the outset what the business does, what its objectives are, and where the profits will come from. A good plan should show a comprehensive amount of market research and demonstrate a clear understanding of customer needs.

There should also be some room for flexibility and contingency options to fall back on, should an aspect of the projections not work out as planned.

Preparing for other eventualities demonstrates decent business sense, something that will be critical for potential investors to see before they agree to fund a project.

While no two businesses, and therefore no two business plans, will be the same, as a CA student, you will develop the expertise to identify any flaws in logic or poorly executed projections.

You will be able to make sure the important details are covered, and be able to maximise the chances a business has of securing the funding they need.

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