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Where next?
If you have collected all the information you need for your business plan, and do not need the Smart Map wizard to guide you any more, you can convert your map to a regular Mindomo map and develop it for export to a word processor.
Good luck with your venture!
Welcome
This Smart Map acts as a dashboard for developing a business plan. It helps you to organise your research and data, and answer the questions that an investor will ask.
This business plan is mainly designed to make the case for investment, although it could be adapted for other uses.
You will most likely need to return to it several times to add more information, especially where research is needed.
Type in your organisation name
Type in the name of your organisation and press Enter or click the right-arrow button to move to the next topic.
Marketing and Sales
The question that investors will ask is 'How will you turn your forecasts into reality?' Having identified your product or service, and the demand for it in the market, how will you reach that market?
As this is part of a business plan, it is not a fully developed marketing plan. You may need to develop this part of your plan in more detail for use as a marketing plan.
Describe what you will sell
Describe exactly what customers will buy, how they will buy it, how it will be provided or delivered, and how it will be supported after purchase. Think about:
Add a campaign
What campaigns are you planning to publicise your product or service? Examples include:
Add a route to market
List the ways that you can reach your market segments. Examples include:
Describe your market research
What market research have you done to identify the best routes to market for your particular segment?
Operations
How will the operations of your organisation need to change, to support this plan?
In addition to understanding the opportunity and its potential, investors will need to know that you will also have the capabilities to deliver it, sustain it and scale it up.
Add a supplier or partner
Add staff, knowledge or skills
Add a development project
Add a process
What new processes will you need to establish? Do you need to change existing processes? Processes include:
Add capital equipment
What new equipment and tools will you need? Will you replace old ones, or extend your capacity?
Add a facility
How will your facilities need to change to implement your plan? Will you need new premises or changes to existing premises?
Implementation
If you win the investment or support that you need, where will you start?
Add a risk
How will you manage risk in your plan? What could go wrong? Think about delays, cost overruns, technical problems, legal problems, supplier problems, changes in the market, new competitors or even an unexpected increase in business that needs extra resources.
Add a next step
Add a milestone
What are the key points in the implementation of your plan? How will you know that you are making real progress? Think about:
Making forecasts
If you are proposing investment in your business, you will need credible forecasts of profitability and strategic benefits.
You will probably need to develop some of these forecasts in separate spreadsheets before summarising them here. You might also need to access financial expertise to prepare these forecasts.
Add a strategic point
What is the impact on your strategy of this initiative? How will your strategy change to ensure that you can adapt to whatever this plan brings, whether it is good or not so good? Think about:
Add a key point from the cashflow forecast
Even if your plan will eventually be profitable, cashflow limitations could prevent you from getting there. Your cashflow forecast should show that you are in control of this. Consider:
Add a key point from your breakeven analysis
Your breakeven analysis should show the minimum level of achievement that is still survivable. If operations go below breakeven, then you will need to take evasive action. Make forecasts for:
Add a highlight from your Profit and Loss forecast
Your profit and loss (or income) forecasts should detail where, when and how profitability will be achieved. Highlight changing revenues and changing costs over the time it will take to establish profitability. Consider making forecasts for year 1, year 2 and year 3 of your plan.
Add a key point from the balance sheet forecast
How will your balance sheet change as a result of this initiative?
Add a key point from the costs forecast
How will your costs base change as a result of your initiatives? Think about:
Add a key point from the sales forecast
How will sales increase as a result of your initiatives? Think about:
Finance requirements
It must be clear to investors what you are asking for, when you need it, and when & how it will be repaid - in short, what value they will get for their investment.
Describe how it will be repaid
Add highlights of the return or repayment plan for investors. Consider:
What will you spend this on?
Summarise how this investment will be spent. Include:
How much, and when?
Add a summary of how much is required, and when. If there are multiple stages then show each one separately.
About your market
Investors will ask: how well do you know your customers and your market? Your business plan should show that you are targeting your market by well-defined segments, and are focused on creating value for customers.
Add a competitor
Add an organisation that can compete with you, either now or in the future. Think about all alternatives that the customer may have, including doing nothing, or addressing their problem in a completely different way.
Strategies
Strategy
Add a competitive strategy
How will you compete effectively? Add an element of your competitive strategy. Think about:
Weaknesses
Add a weakness for this competitor
What do they do that is less attractive than your product or service? Do they have:
Strengths
Strength
Add a strength for this competitor
What do they do that is more attractive than your product or service? Do they have:
Product or service
Describe the competing product or service
Add a target customer group or segment
Who are your customers? Add a target customer segment. Groupings might include:
Note that the same people may belong to more than one group, so may be reachable in several ways.
Solutions
Add a solution
What solutions are you offering for customers in this segment? What value do you create for them?
Needs
Add a customer need
What are the needs and interests of the customers in this segment? What do they value? How do they select their purchases?
Pain points
Add a customer pain point
What problems and pain points do the customers in this segment face?
Profile
Add a customer characteristic
What are the characteristic of the customers in this segment? How do you identify your potential customers?
Segment size
Size
Estimate the size of this segment
What is the estimated size and value of this segment?
What proportion of the segment is potential customers for you, taking into account competitors, market maturity and demand?
Describe your market position
What market position are you aiming at? Think about:
Describe your industry
Add some key points about the industry you are working in.
Vision and opportunity
We will begin with the part that is easiest to describe - your vision, and the opportunity that your plan is based on.
The investor's question we answer here is 'Where are you headed, and why?'
You might have an unshakable belief in your vision, but investors will be more sceptical, and will be looking for evidence of insight and a well-formed strategy.
Add a long-term goal
Where do you want to be in 5 years? Where would you like to be in terms of:
Add a short-term goal
Where do you want to be in 12 months? Where would you like to be in terms of:
Describe your USP
Add a key point about your Unique Selling Point. Your USP is what will lead marketing, and help customers to choose you over alternatives. In comparison to the alternatives, why will your product or service...
Describe your strategy
Add a key point about your strategy. Strategy means having a bigger goal and an adaptable route map to navigate towards your goal. How does this opportunity...
Describe the opportunity
Add a key point about the opportunity that you are pursuing.
About your business
Investors will need a clear picture of your business: how it is structured, who owns it, who runs it, and how it is doing so far.
Describe your values & principles
Add some information about the values and principles at your company.
Describe your track record
Add some information about your successes and achievements. Think about:
Describe your company's partnerships
Add some information about important partnerships. Think about:
Describe your management team
Who are the key members of your management team, and what are their skills and experience?
Summarise your credit position
Does your company have a good credit history? Can you negotiate favourable terms with suppliers?
Poor payment terms (such as cash with order) can affect cashflow while building up a new business.
Describe your current profitability
Add some information about your current profitability. For example:
Describe your investment
Add some information about the current shareholding. How much have the current owners invested in the business?
Describe your financial structure
Add some information about the capital finance situation at your company.
Describe the regulatory environment
Add some information about the regulatory environment that affects your company. Apart from company law, what other regulations apply to your sector? Consider:
Describe your governance
Add some information about the governance of your organisation.
Add your legal status
What is the legal status of your organisation? Are you a sole trader, a limited company with shareholders, or a non-profit?
Executive summary
Although the executive summary appears first in the document, it is easier to complete it last, when you can summarise and prioritise the key points in your plan.
Summarise the benefits
List the benefits that will come from pursuing this opportunity. Include:
Summarise your requirements
List the financial and other support that you are seeking, so that you can take advantage of this opportunity.
Summarise the opportunity
Briefly summarise the opportunity that your plan describes, and why it is strategic for your company.
Summarise your track record
Add the key points about the track record of your team and your capabilities.
Summarise your products and services
Add short descriptions of the key products and services which bring your mission to life and are making it happen.
Summarise your mission as an organisation
In one line, summarise the value and the difference that your organisation aims to create. Mission statements are more useful if they describe the difference that you want to make to your customer's lives, rather than what you want to achieve personally. Your mission statement should directly influence strategic decisions.
Generating profit and shareholder value are usually taken for granted for commercial organisations, so do not need to be in the mission statement.
Confidentiality statement
As your business plan is a commercially sensitive document, you may wish to add a confidentiality statement at the front of the document.
