How to make a detailed business plan and the latest Excel file template

Business planning helps bring efficiency to businesses in accomplishing their goals. So what are the business planning and steps needed to develop a successful plan? Join 1C Vietnam to learn the steps of business planning and important notes when implementing the process.

1. What is business planning?

A business plan is a detailed document that describes business goals, strategies, and implementation to achieve those goals. Business planning helps businesses evaluate, analyze and track business progress. At the same time, it helps businesses optimize their ability to achieve goals, minimize risks and succeed in today's competitive business environment.

2. The importance of planning in business

Business planning plays a key role in determining the development direction of a business, helping to bring many important benefits, specifically:

• Determine goals and development direction: Planning helps businesses clearly define goals and development directions, ensuring long-term development of the business.

• Financial planning: Business planning helps identify resources and finances to ensure effective business operations. At the same time, the plan helps determine capital sources, forecast revenue and costs.

• Risk management: Business planning helps businesses identify and evaluate potential risks, thereby proposing risk prevention measures, enhancing the ability to respond to unwanted situations and minimizing impacts. negative action.

• Effective cash flow management: Effective planning helps businesses effectively manage cash flow including costs, assets, liabilities and budget estimates to avoid unnecessary waste of resources.

• Communicate and collaborate quickly: A business plan is an important tool to communicate a business's ideas and goals with stakeholders, in addition to helping to reach a common consensus on a business development strategy.

• Evaluation and monitoring: The detailed plan provides a basis for evaluating and monitoring business performance and helps measure progress toward achieving goals and analyze the effectiveness of strategic adjustment activities if necessary. necessary.

3. Basic steps in the business planning process

Before a business enters the business world, planning is the step to shape the strategy and goals of the business. During the planning process, administrators or businesses need to follow these steps for businesses to operate effectively:

3.1. Identify specific and clear business goals

Businesses need to determine general business goals and divide them into specific goals. SMART and setting specific deadlines help track and evaluate progress. At the same time, the principle helps evaluate the ability to achieve goals based on resources, markets and competition.

3.2. Research and analyze business markets

A business plan helps businesses evaluate the market to understand customer needs, competitors, and potential opportunities. Administrators can use methods such as interviews, surveys and reviewing statistical data, etc. to collect information.

3.3. Analyze and evaluate SWOT

SWOT analysis is an important step to evaluate the internal and external environment of a business. Here, businesses can better understand their strengths, weaknesses, opportunities and challenges to help build appropriate business strategies.

3.4. Determine a suitable business organization model

To determine a suitable business model, businesses need to pay attention to the following factors: business field, target customers, value provided, distribution channels, customer relationships and income sources. . A business model is the way a business creates and delivers value to customers, thereby making a profit.

3.5. Creating an effective marketing plan helps attract customers

Marketing planning is a key step in the business planning process. It focuses on defining goals, customers, communication channels and marketing budget. An effective marketing strategy will help businesses reach the right customers, increase sales and achieve business goals. At the same time, this process also needs to be flexible, continuously monitored, evaluated and adjusted to respond to fluctuating market requirements in the business environment.

3.6. Manage human resources to ensure smooth operations

Develop a human resource management strategy to ensure the smooth operation of the business. First, forecasting future human resource needs, including quantity, quality, professional qualifications and skills, helps businesses have appropriate recruitment and human resource development plans. Adjusting company policies and procedures to reflect employee needs and desires also plays an important role in maintaining a positive work environment.

3.7. Financial planning and effective resource management

Setting up a financial plan is an important factor that helps businesses define specific financial goals such as revenue, profit and profitability ratio. This plan is the basis for businesses to determine what they want to achieve and create a strategy to reach that goal. This is an important and indispensable step in the business plan, as well as the basis for shaping and managing the financial activities of the business in the future.

During the implementation process, businesses must continuously evaluate and adjust the plan to ensure it is consistent with reality. Administrators need to carefully evaluate the goals, feasibility and reality of the financial plan, thereby making timely and appropriate adjustments.

4. Important notes when making a business plan for an enterprise

Things to note when creating a business plan for a business need to be considered carefully to ensure success and sustainability in business operations. Here are some things to keep in mind when creating a business plan to help the plan run smoothly and successfully:

4.1. There must be a long-term vision and specific goals

Before starting to build a business plan, the process of sketching a basic business idea is very important. Asking questions like "What, where, why and how?" Helps clearly define the outline steps for a business plan.

4.2. Set SMART goals

Another thing to note is that businesses should set a general goal and break it down into specific goals, following the SMART principle. Administrators also need to set specific deadlines to help monitor and evaluate progress.

4.3. Research competitors, analyze target market

Market research is an important step in business planning . Market surveys help evaluate the suitability of products/services with market trends and customer needs, and determine the success of the plan.

4.4. Create value for customers

The plan should focus on expertise and experience when making business investment decisions. Understanding your strengths and focusing on highlighting them in your business idea will help businesses compete effectively and surpass their competitors.

4.5. Make sure the plan is transparent and honest

Managers should pay special attention to ensuring the business plan is transparent and honest. To achieve this, managers need to verify information, ensure data is accurate and highly applicable, and not overestimate the business's potential.

5. Simple, detailed business plan template

5.1. Marketing analysis action plan worksheet

The marketing analytics action plan helps develop the marketing plan of the overall marketing strategy and provides a means to analyze and evaluate the performance of marketing strategies.

5.2. Complete marketing plan

The complete marketing plan includes pricing strategy, electronic marketing, advertising channel selection, public relations and marketing operations. The plan focuses on reaching potential customers through diverse marketing channels.

5.3. Detailed sales marketing plan template

The detailed sales marketing plan template details the monthly work in the marketing and sales process. The template includes ABC analysis, future scenario framework, and sales strategy.

5.4. Digital marketing business plan worksheet

Digital marketing business plan worksheet builds a plan based on customer needs and strategic goals. The planning board focuses on setting specific goals and ensuring they are feasible and achievable.

Through the above article, 1C Vietnam has helped administrators learn about the details of business planning and introduced business plan samples that can be referenced. Hopefully the above useful information helps set up a quick and simple business plan. If you have any questions, please contact 1C Vietnam immediately for advice and answers.