A business plan is document with a description of the intended achievements and the proposal to do it. They are prepared either for the whole organisation or for a one project. They describe all activities, skills, systems and resources required to achieve the short, medium and long-term goals. Hence, they describe and answer these questions:
- What you want to do
- Whom you want to do it
- When need to do it?
- Where it is to takes place?
- How you is to do it and fund it?
It is recommendable for the organisation to produce a plan that involves a variety of people from the organization when developing it (AAKER, 1984). There are no set lists for what should it include in a business plan, because it will depends on the organisation. However, various Lottery funders require the provision a business plan as part of the lottery application, this depends on the program applied to and how much fund is required. When the funder asks for a business plan, they may be some particular areas that they want covered. Below are some of the generally areas that should be included in the business plan.
Your organization- it should describe the aims, objectives and the history of the organization. It should then illustrate how the project applied for funds fits into this. Remember to highlight and assess the strengths and weaknesses of the organisation, and the likeliest opportunities and threats.
Your people- remember to provide concise details of the skills and experiences of the organization’s management board of trustees, volunteers and staff. You may want to include a diagram showing the staffing structure of your organisation. It is advisable to highlight the skills required for the organisation as a whole. If you are producing a business plan for a personal project, the skills you need for the project. Explain whether what you have written present within your personnel and if not, where they will come from.
Your work- this should describe your present work in your organisation including the services provide. If the organisation runs a number of projects, you may also show how they link together.
The future of the plan-clearly describe what you hope to deliver through the project being funded. This includes how the project fits in the organization’s goals. Analyze the needs for the project and a description of how the project will meet those needs. Provide details for the targets and the changes required to facilitate the new project together with work management plans.
Your measure for success- If you are externally funded, clearly inform your financiers how you intend to use the money provided and how successful the project appears to be. Your financiers ask you for the monitoring information you need, but they will ask for the activities your project has delivered and the difference made to the beneficiaries and stakeholders of your project.
Your finances- provide details of your clubs current finances. A business plan should include a budget and cash flow forecast for each financial year of the business plan. Then, give detail for continuity of doing the business, and how it will sustain the new project after these funds are exhausted.
The timetable- your business plan must include a work schedule to define what you ought to do and when. Use major events as the milestones of your plan towards the achievement the long-term strategies of your organisation and the project you are seeking the finance. This also helps you to define how to achieve within a set timetable. Ensure that all stakeholders are involved in your organization to develop your business plan. Briefly, describe what you are about to do, for what reason and how it pays and a work plan showing how you are going to achieve your aims.