Youth Entrepreneurship

Menu
  • Welcome
  • Dayo Profile
  • Contact Dayo
  • JOIN OUR FORUM
  • Testimonials
  • Shop
  • Our Business Plans
  • OUR PRODUCTS
    • Coaching
    • Entrepreneurship book for Africa Students
    • MLM E-BOOK: How to Recruit and Get to the Top Fast in Any Network Marketing Business
    • Set Up Money Making Blog for Just N50,000

80 Things You Will Learn from 72IG Affiliate Marketing School, Digital Marketing Skill Development and Expertnaire Affiliate Implementation Programme. (Cost N65,000)

CLICK HERE

FOUR TYPES OF BUSINESS PLAN

Dayo Adetiloye Business Hub

FOUR TYPES OF BUSINESS PLAN

FOUR TYPES OF BUSINESS PLAN

A business plan can be divided into four types. There are short plans, mini-plans, presentation plans, and what-if plans. Each of these plans requires a different amount of labor and gives approximately slightly different results.

 

THE MINI PLAN

Many recipients prefer this plan because they are easy to access or download, and can be read quickly either on phone or tablet.  A mini plan should be succinctly written and should contain necessary information while writing about your business. In the case of a business venture, a mini-plan may be satisfactory but if yours is a more complex business, you may need the higher versions of the plan.

This mini business plan will help you to formulate questions and how you can answer them. Below are the questions that mini-plan help provide answers to

  1. My Line of Business
  • The core business area is IT
  • Design and sale of children clothes
  1. Your goods and services
  • Pleasure dress and dress for play
  • The application that can connect a company’s website with the company’s administrative system.
  1. My customers are
  • People who are good financially and have time to spend on an exclusive and cultural vacation
  • The biggest retail outlet that sells children’s clothes in the area.
  • Production Company within the state where the business is located.
  1. What makes me different from my competitor
  • We offer effective service in term of price and develop a standard that fit about 80% of customers’ needs.
  • Good contact we have so far with the retailers of children wears gives us the advantage

 

  1. Major resources for my business
  • Network among retailers and access to dress maker’s workroom
  • Visited many historical sites, inside business knowledge, and website professional.

 

THE FOLLOWING ARE THE REASONS TO USE A MINI PLAN

  1. The mini-plan is always straightforward and goes straight to the point. Although, you can create a longer version with a more detailed analysis which includes financial projection, why you are in the business, your competitive analysis. Your mini-plan helps you to take action in your business.
  2. A long and many pages of business plans are put away sometimes, what you want is key information that will help you plan for success. Your mini-plan will help you focus.
  3. The mini-plan helps you to live the dream, quickly identify the key strategies and activities that will help you grow your business, take necessary action and enjoy your freedom.

FOUR TYPES OF BUSINESS PLAN

THE PRESENTATION PLAN

The use of PowerPoint presentations changed the way many entrepreneurs present their business plans. This plan is short to present, although it’s not necessarily easy to present and many people lose sleep because they have a presentation, especially if the presentation has something to do with the future of the business. But presenting your business plan as a deck can be very powerful. It is good to know that your readers may not always have the privilege of meeting you or asking questions in cases where the traditional business plan is submitted. But with a presentation plan, you have the privilege to present and talk about everything and cover all the key points in your business plan while directly talking to your assessors, and they can ask you questions if anything is unclear to them.

In preparing your presentation plan, remember to keep graphics uncluttered and ensure your plan is concise, the important questions who, what, where, and how all need to be answered. While writing your presentation plan, ensure you analyze your customers, and define the objective of the presentation.

 

Read Also: WHAT ARE THE THREE MAIN PURPOSES OF A BUSINESS PLAN

 

THE WORKING PLAN

This is a tool to be used to operate your business; it has to be detailed. While preparing a working plan, you might need to describe a rival as competing primarily on a price basis. This kind of plan is intended and designed basically for internal use, may also omit some elements that may be considered necessary in the conventional business plan. Also, you probably don’t need to include an appendix with resumes of key executives. Nor would a working plan especially benefits from product photos.

Some internal policy considerations may guide the decision about whether to include certain information in a working plan. Many entrepreneurs are sensitive about employees having the precise salary the owner takes home from the business. To this extent, such information can be left out of a working plan without compromising its benefits; you can feel free to protect your privacy.

 

THE WHAT-IF PLAN

When you face unusual circumstances, you need a variant on the working plan. For example, you may need to prepare a contingency plan. A contingency plan is based on the worst scenario that you can imagine your business surviving – loss of market share, heavy price competition, defect of a key member of your team, etc. You need to make provision for “what ifs” in this type of business plan. A what-if business plan can help you spot the increased needs for space, equipment, personnel, and other variables so you can make good decisions.

FOUR TYPES OF BUSINESS PLAN

OTHER TYPES OF BUSINESS PLAN

ONE PAGE BUSINESS PLAN

This type of business plan is for a very small business. One page business plan is a good way to have business ideas on paper and to work out the fundamentals of the business. With this plan, you will write a couple of sentences that are important for your business. It should include items such as the business model and competitive advantage. Below are the sections that must present in your one-page business plan:

  • Problem: this section should demonstrate what problem your business intends to provide solutions for.
  • Solution: What will your business provide to solve the problem?
  • Business Model: How will your business make money?
  • Target Customers: What type of people will buy your product or service?
  • Promotion: How will your customers know about your product?
  • Competitive Advantage: What will your business do better than the competitors?
  • Financial Projection: How much money do you need to start? What will you earn per month?

What to do after creating your one-page plan

When you are done with creating your one-page business plan, do not keep it under the drawer, share it with supportive friends, family, and mentors for feedback.

 

TRADITIONAL BUSINESS PLAN

The traditional business plan is more in-depth and thorough than the other types of the business plan. A traditional plan may contain over 40 pages of info about your business. Typically, you will use this plan to get funding from financial institutions. Also, you may use this traditional business plan to attract investors to your business. Sections in the traditional business plan are;

  • Opening organizational and legal pages
  • Executive summary
  • Company Summary
  • Products and Services
  • Market and industry analysis
  • Marketing strategy and implementation strategy
  • Financial data and analysis

 

MODERN BUSINESS PLAN

This is an alternative to the traditional business plan. Many business owners prefer to use this because it can be done as a visual exercise with the leadership team. Jointly, the team can go through each section and provide high-level input once you have created the basics for the business model. In your modern business plan section, you should have the following;

  • Customer segments
  • Value Proposition
  • Channels
  • Customer Relationships
  • Key resources
  • Key Activities
  • Key Partnership
  • Cost structure
  • Revenue Stream

 

If you need a service of a Professional Business plan writer, then Dayo Adetiloye Business Hub is the place to go Call or WhatsApp us now on 081 0563 6015, 080 7635 9735 or send an email to dayohub@gmail.com  and we will solve any of your business plan problems.

 

Hope you enjoy this article?

Share your thoughts in the comment session.

Contact us today for your business consultancy and business advisory services. We can help you fine-tune your idea, structure your business, market your business, train your staff, consult on your retirement plan, coach you for financial success. We also write a business plan and help with fundraising strategies and Grant applications. We can help you start, grow, and expand your business.

Call or WhatsApp us now on 081 0563 6015, 080 7635 9735 or send an email to dayohub@gmail.com  and we will solve any of your business problems.

 

 

Enter your name and email and Download our FREE eBook, get the weekly newsletter, Update on Grants, Business Opportunities & Premium Services from DayoAdetiloye.com... Joining is FREE!
Your information will *never* be shared or sold to a 3rd party.
  • Author
  • Recent Posts
Dayo Adetiloye Business Hub
Lets connect
Dayo Adetiloye Business Hub
Dayo Adetiloye Business Hub is a grassroot business development service provider with a 6 year of track record of excellent service delivery for local and international clients.

As a leading business development service provider in Nigeria, Dayo Adetiloye Business Hub has been recognized and certified by Small and Medium Enterprise Development Agency of Nigeria (SMEDAN) in Conjunction with Enterprise Development Centre (EDC), Pan-Atlantic University (PAU) of the Lagos Business School (LBS).

Our solutions are designed for MSMEs and are supported by deep insight into various industries and extensive experience acquired from over the years by supporting our clients as partners in their business transformation.

Through our services and business activities, we help individuals/entrepreneurs transform their business ideas into a business venture, and support existing business to scale or expand their operation. We also connect startups and MSMEs with opportunities and resources for their business growth.

We have Consulted for more than 5000 MSMEs in the last 6 years in various industry including Agro-processing, Consulting, Training and Education, Financial Services, Waste Management, Renewable Energy, Oil and Gas, Construction, Real Estate, FMCG, Digital Marketing, Personal Branding etc.

Our Vision:
To become the leading grassroot business Hub that provides Business
Development Services in the global online community

Mission Statement:
- Provide bespoke management and business planning consultancy
- To connect MSMEs with opportunities and resources for their business startup, growth and expansion through trainings, seminars, coaching, consulting, mentoring, and Angel investing.
- To inspire, empower and champion entrepreneurship in the global online community.

Business Goals and Objective

- Engender national prosperity by contributing to the creation of at least 100 new businesses every year
- Become a go-to brand for outstanding business development services for MSMEs
- Strategic partnership with local and international organization to empower start-ups
- Continuous innovation to serve our clients better

Core Values:
Integrity
Opportunity Maximization
Digitalization
Personal Development (Capacity Building)
Excellent Customer Satisfaction
Timeliness
Dayo Adetiloye Business Hub
Lets connect
Latest posts by Dayo Adetiloye Business Hub (see all)
  • Philanthropist Kole Akintujoye’s Our Daily Bread Foundation: Eradicating Hunger in Nigeria and Beyond - March 20, 2023
  • 28 Reasons why Norland Network Marketing Company is the best in Nigeria - March 16, 2023
  • Top 50 Ways to Generate Leads for Expertnaire Affiliate Marketing Platform in Nigeria - March 16, 2023

Share this:

  • Tweet
  • WhatsApp

Related

Prev Article
Next Article

No Responses

  1. Pingback: TOP BUSINESS PLAN AND PROPOSAL WRITERS IN LAGOS, NIGERIA
    January 10, 2022

Leave a Reply Cancel Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Search this Blog

MLM Instant Recruiting Formula

Grant Winning Blueprint

How to Turn Yourself into a Live Breathing Cash Machine

Ecommerce Business

Follow me on Facebook

Follow me on Facebook

Follow me on Twitter

My Tweets

Youth Entrepreneurship

…Raising Millionaire Young Entrepreneurs
  • About
  • Dayo Speaks
  • Disclaimer
  • JOIN OUR FORUM
  • Shop
  • Privacy Policy
  • Sitemap
  • Advertise With us

About Us

Dayoadetiloye.com is a property of Dayo Adetiloye Business Hub committed to connecting entrepreneurs with resources.

We are one stop Business Resource Center where we help you discover, Develop and Fulfil your business potentials.

On this platform, we help you develop business plans and strategies, connect you with funding opportunities and share with your business opportunities.

Facebook Community: https://www.facebook.com/groups/156197005130352/

Twitter: www.twitter.com/dayoadetiloye

Email: Dayohub@gmail.com

Popular Posts

  • 50 SMALL SCALE BUSINESS IDEAS IN NIGERIA AND STRATEGIES TO START IT
    50 SMALL SCALE BUSINESS IDEAS IN NIGERIA AND STRATEGIES TO START IT
  • Peter Obi's Biography, Net Worth, and Rise to Popularity
    Peter Obi's Biography, Net Worth, and Rise to Popularity
  • Top 8 Impacts Of Technology On Business In Nigeria
    Top 8 Impacts Of Technology On Business In Nigeria

Popular Category

  • Affiliate (36)
  • Articles (723)
  • Business Grant (342)
  • Business Opportunities (422)
  • Business Plan (682)
  • Competition (46)
  • CV Writing & Career Guide (61)
  • Dayo Initiative (13)
  • Entrepreneur of the Week (19)
  • Executive Summaries (148)
  • Expertnaire Affiliate Marketing (5)
  • Finance (15)
  • How To (133)
  • Job Vacancy (18)
  • Latest Post (1,681)
  • LOAN (23)
  • MLM Coaching (11)
  • Network Marketing (176)
  • NEWS (21)
  • Norland Nigeria (70)
  • Ofada Rice (6)
  • Online Marketing (50)
  • Product Sales (9)
  • Recharge and Get Paid (11)
  • Scholarship (7)
  • Scholarships (11)
  • Sponsored Post (223)
  • Trainings / Events (151)
Copyright © 2023 Youth Entrepreneurship
Dayo Adetiloye Business Hub

Ad Blocker Detected

Our website is made possible by displaying online advertisements to our visitors. Please consider supporting us by disabling your ad blocker.

Refresh
Enter your name and email and Download our FREE eBook, get the weekly newsletter, Update on Grants, Business Opportunities & Premium Services from DayoAdetiloye.com... Joining is FREE!
Your information will *never* be shared or sold to a 3rd party.
 

Loading Comments...