The Most Work Should Go into the Financial Section of Business Plan

Posted by samuelperth on July 18th, 2013

The final purpose of a business plan is to raise the necessary funds for a business to take off. It is safe to say that the financial section of business plan is the most important, as it is often the section that receives the most attention from investors. They have to be convinced that your plan is healthy and that it has the real potential to bring a return on their investment. Following that are the ways to promote products and services, the ways to convey the message about your product to virtual costumers.

The financial projections and activity estimates contained within the financial section of business plan are the things that are usually the most appealing to anyone reading through your business plan. And even more so to investors, as they get a real glimpse into how much money you need in order to get off the ground, to establish yourself as a business, the analysis of the risks they expose themselves to, and the ways they could recover their investment in the worst case scenario. It needs to provide a realistic overview of the cash flow processes and profitability of your business and address all key concerns of the investors.

A good way to showcase your professional attitude is to have a solid marketing plan. Your business cannot be profitable without a powerful plan to enter the market and build a name for itself and the first thing to do is to look for ways to promote products and services. Sure, the financial section of business plan is crucial, but your whole business plan must be well thought out. The image of your company and products, your attitude towards them and towards your customers, everything has to be written down and given thought beforehand, determining budgets for your campaigns and promotions, be aware of any resources at your disposal that may reduce costs or facilitate advertising as it is very important to establish a realistic budget with realistic goals. Keep in mind that every company is different and there is no recipe to success when it comes to advertising and reaching your customers, be it social media, viral promotions, tv ads, web ads, they all have a determined role and you have to figure out which will provide more sales for your particular product.

Remember most of all that the ways to promote products and services are actually ways to promote your usefulness and results. Focus on result-oriented advertising, not just in promoting your company, and the fruits of your labor shall be even greater. Keep your eyes open for opportunities to market your services and products, as innovation and flexibility can often yield unexpectedly favorable results.

Although you should focus the most on the financial section of business plan, do not ignore the advertising section. The ways to promote products and services are an area you should seriously focus on, as it holds the potential to make or break your start-up business.