Single Page or Lengthy Document, It All Serves the Same Purpose
No business is without rocky roads ahead. To navigate such terrain, a company needs a business plan, to begin with. But there are plenty of people out there loathe at the thought of writing a business plan. Honestly, it is the least fun part of getting the business off the ground. Nevertheless, writing a business plan in Indonesia is as essential as incorporating the company. Company incorporation is required by law so that you conduct any business legally. A business plan could propel the company on the right track from the start. Thus, whether you like it or not, writing a business plan is a must.
Who Writes It
Well, let’s see. Whoever owns the company should have a vision for where the company is heading. Thus, to answer the question above, the rightful owner should write the business plan. If you say, you could not report a whole page for the life of you, calm down. There is expert help you can tap into in writing a business plan in Indonesia. The business plan writer will assist in any section of the business plan. However, the crucial and valid information must be from the owner. If the owner hires a business plan writer to do it all, there will be discrepancies between the plan and the business operations. That could lead to further grave misinterpretation and blunders.
Who Needs It
Now, we get to know who needs a business plan. For starters, it is the owner. The owner needs a well-written business plan to stay the course. His or her employees will utilise it (if ever shared with the employees) to keep track of the company’s progression. Next, if you clearly state the amount of funding you need for the company, you could try your luck with potential investors. Thus, financiers and investors will need a solid business plan if you are looking to raise capital. Reliable here, meaning your business plan has all the essential details for convincing potential investors of the viability of your business.
The Living Document
A business plan is written, but it is not final. For a start-up company, the business plan will have the essential details of the business. Some even have it in a single page. There are no stone-graved rules to writing a business plan in Indonesia. Start-up entrepreneurs are always excited to get on with their business, thus leaving out this important document after the excitement withers. Business owners need to keep updating the business plan for future expansion. This is how the business plan functions as a road map for every company.
What It Entails
The following list is the general content of a business plan. Should you feel the need to add further to your company’s business plan, feel free to do so.
- Executive Summary – The company name, structure, business registration number, team members.
- Value Proposition – Clearly state how the company functions to solve specific problems.
- Target Market & Competition – Your niche target and competitors in similar markets. Highlight your unique strengths. This section must be an outcome of market research.
- Marketing – Highlight your marketing channels and avenue. Whether you are relying on digital or mixed media, include your plans.
- Budget – This section may need some experienced forecasting of your sales. Be sure to create a realistic spending plan that may include profit and loss.
- Funds – State where you intend to get funds, or how much has been invested so far? Always remember to include when investors can expect their ROI?
- Milestones – If your company has any, include them here. It creates a good impression on the investors.