Step by step: how to create a business plan

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Starting a business from scratch is not an easy task. However, to reduce risks and uncertainties, developing a business plan can make it much easier for entrepreneurs to find the best way to operate in the market.

Through a plan, it is possible not only to open a business, but also to initiate ideas that promote innovation or even the expansion of the company. Among the essential information, through a business plan, it is possible to identify competitors, target audience, partners and opportunities. In addition, it will also indicate the strengths and weaknesses of the business , which allows you to understand, among many issues, the viability of the idea.

With security and knowledge , no one can stop an entrepreneur. Therefore, planning is a fundamental step that can define the success of the company. Do you want to know the step-by-step process for creating a business plan? Check it out below!

But before we continue, it is important to consider sri lanka whatsapp lead that many people are still unsure whether to develop a business plan or a Canvas. Therefore, the Lowtax team has already addressed the subject previously, check out more details in the post “ Difference between Business Plan and Canvas” .

. Market analysis
Who is the target audience? How do they behave? What are they looking for in the market?

This step serves to identify and understand who the customers, competitors and suppliers are, in addition to detailing which products or services will be offered.

Through market analysis, it is possible to extract information that will allow you to draw a picture of the market in general and indicate the best paths for the company. This data can be obtained through interviews, questionnaires or even in direct conversations with potential customers.

There are specialists and large companies that can provide this service. However, if there are not enough resources to invest in this step, there is also the option of seeking the service from junior companies at universities, where costs may be lower. Don't forget: this is a crucial step in reaching the right target audience at the right time. Through this initiative, there will be no room for "guesswork" when starting promotional actions and campaigns.


. Strategic business guidelines
What are the strengths and weaknesses of the business? What are the opportunities and threats? What is the vision and mission? What are the core values? After understanding the profile of the target audience and the competition, it is time to look at the business strategically.


At this stage, the famous SWOT analysis is developed . The acronym in English — strengths, weaknesses, opportunities and threats — points out the internal and external factors that can influence the enterprise.

This is a key moment to understand the positioning of the product or service that will be offered. For example, will it be a service that will stand out for its unparalleled quality or its cost-benefit?

. Operational planning
Where will the company be located? What equipment will be needed? This step describes how the company is structured, and addresses the processes and operational levels. It is time to make projections about production capacity, number of employees on the team, maximum number of customers served, among other information.


Tip: To define the company's structure, building an organizational chart can be a great visual tool.

. Financial planning
What will be the required working capital? What will be the estimated fixed investments? What will be the ideal tax regime for the business?

This stage basically consists of establishing estimates of costs, expenses and revenues, working capital and cash flow and profits, in order to avoid waste. This is the time to define and present the main financial indicators together with an economic feasibility study of the project.

Due to the complexity and frequent changes in Brazilian laws, this is considered by many to be one of the most difficult and essential steps for business, so if you need the help of a specialist, do not hesitate.

In fact, Lowtax has a specialized team that not only carries out the obligations of companies, but also offers consultative analysis, establishing future projections and indicating the best paths.

. Executive Summary
The executive summary is nothing more than a compilation of information about the business. It should include basic and essential information, such as: details of the entrepreneurial partners, the company's mission, sector of activity, tax classification and source of funds.

The summary is usually the last part to be written, as it presents a summary of all the previous steps. It is a great way to present the business, especially in the case of entrepreneurs looking for investors, where it is essential to point out the great advantages of the venture.

Therefore, the most important thing about the business plan is that each item is presented in detail, step by step.