There are several things to consider when creating a business plan for a small to mid-size enterprise including the location, size, and business model of the company. Pro Business Plans has worked with many SME companies to create professional plans for investment and strategy. The following article outlines what is included in the business plan and how it should be structured.
A custom business plan that is being used to acquire financing is often expected to include several key components including the business model, marketing plan, and financial projections. The most important part is to communicate what your company does and how it is uniquely positioned against the competition. If your company has prior operating history, these are used to apply the financial projections. If your company has no operating history, or an inadequate amount, the business model is compared to similar companies and adjusted based on your unique strategy.
The business model of an SME company is what it fundamentally does to make money and translate it into profits. Most SME companies have a relatively straightforward business model, but if you are seeking private investment, it is important to communicate your positioning. For instance, a service company that tailors to a niche demographic to provide a premium version rather than attempting to attack the mainstream market. The business model also includes your company’s competitive advantage, which should be the main theme of the business plan and clearly presented at the beginning.
The marketing section for an SME business plan will depend upon the industry and size of your company. The most effective way to plan out your company’s marketing strategy is to base it on your target customer acquisition cost and focus on measurable marketing channels. Focus on researching and implementing low cost lead acquisition using free sources like social media and public relations, but also planning out paid promotions in a calculated way.
The financial forecasts for an SME business plan should be based on its prior operating history over a three to five-year period. If the company has less than one year of operating history, it may base the financial performance of similar companies as drivers to your financial projections. Some investors may also request custom financial analysis such as a break-even analysis or custom profitability ratios. These will help your company to better identify critical risk factors and compare the company’s growth rate to its industry competitors.
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