There is a system you can use to write a business plan in Kenya that streamlines the entire process.
By using this system, not only makes the writing process faster and simpler but also way more useful in a really practical way.
If you want to organize your business and start strategically increasing your profits and growing towards your goals, then keep reading this guide.
This business plan has six main sections and I’d recommend that you start by scribbling your ideas for each on a separate blank piece of paper.
Once you get your ideas worked out, you can create one cohesive document.
Now, the six pages of your business plan in Kenya are
Let’s look at each of these pages, shall we?
The first page of your business plan will be an overview.
It is going to give a basic understanding of what your company does and the structure of your business.
Now, on that first overview page of your business plan, you want to include
The next piece of information for your company’s overview is your business’s mission, which is really important.
The business mission is the driving force behind your business plan in Kenya.
It is what all your plans are focused on achieving and if you don’t have a mission’s like trying to make plans to reach a goal without having the goal.
So make sure you don’t skip this step.
The final component of the overview page is your chart of accountability.
This chart describes who is accountable for which of the major tasks involved in running the business.
And the three main areas of accountability in most businesses are
The second page of your business plan in Kenya will focus on outlining your company’s message.
If you want your business to be successful, you MUST have a clear idea of;
Here are the questions that you will want to answer on this page of your business plan
This both helps to answer the question of what sets you apart from your competition
It also shows your customers how you are going to create those results that you are promising.
By making this clear, you are instilling confidence in your ability to create the results.
Let’s talk about the third page of your business plan.
This page focuses on marketing and generating sales.
First, you will want to define your target market by their demography and psychographics.
Demographics are attributes such as their age, income, where they live.
On the other hand, psychographics has to do with their interests, desires, and fears.
Here, you will also want to include an estimated size of your target market.
More importantly, where you have identified that you can find groups of those target customers.
If you haven’t yet figured out where you can find groups of those customers be it online or off, you are probably going to have trouble successfully marketing your product or service.
So if you come to this part in the business plan and don’t know what to put here, stop and do some digging.
Make sure that YOU can find this customer you have defined here.
If you can’t, you might want to consider redefining that target customer and pivoting your marketing position.
The final three pieces of information that you can include on this page of your business plan are
Here is a quick heads up;
As you are working through this business plan, it’s more than likely that you won’t know the answers to all of these questions.
And you won’t have all these things figured out yet.
I just want to let you know that that is completely alright.
And actually, one of the main purposes of writing your business plan is to become aware of things you haven’t thought about yet or haven’t figured out.
Because only once you are aware of what you don’t know, you will be able to think through it.
Don’t put off writing the business plan in Kenya just because you don’t know everything yet.
Rather, write the business plan so that you can get very clear on exactly what you know and need to figure out.
This page describes the product or products that you sell.
To clarify, a product could be a physical product or a digital product or service.
I highly recommend that you choose just one product as your business’s primary product.
You might be selling several different things, so determine what your main product is that you are going to center your business’s marketing message around.
Many different parts of your business development will be much easier if you do have one product that is the focus.
Now, on this page of the business plan, start by identifying
What your business sells is really the result your product creates not the product itself.
After describing the results, describe the impact the product creates.
This is different than the result itself.
It’s instead how the customers’ life is affected by the result of the product.
If your product is a vacuum cleaner, then the result the product creates is clean floors.
But the impact of the product is that your prospect feels better about the state of their house.
Now they have a cleaner, healthier living environment and perhaps feel more confident inviting some company.
Once you have described those three things for your main product, you can move on to other products that your company sells and do the same.
The final page of your business success plan has to do with your goals.
If you have looked at any examples of business plans in the past or read a guide on how to write a business plan in Kenya, you might have seen a section that focused on projections.
And if you’ve tried to write a business plan in Kenya in the past and you tried to write this section, you may have found it very difficult.
Chances are that is because you are running a small business in Kenya or maybe you have just started your business.
Truth is, it is really difficult to make accurate projections or projections at all for that matter if you don’t have any data to base them on.
And that is why I’d recommend that instead of trying to create projections, you simply set goals if you are just starting your company or have only been in business for a couple of years.
You can decide exactly how long you want to make your goals for.
But a good place to start would be to set some one-year goals and also some five-year goals.
This way you know what you need to work on right now but you also know where you are aiming long term.
For each time frame, you can set whatever goals you’d like.
However, some that I might recommend;
And of course, when setting goals, it is always important to set specific, measurable goals and a deadline for when you plan to reach them.
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All right, that is everything you need to include in your business plan in Kenya.
As you can see, they are simple pages and you probably already know most of the information that will be going into this business plan.
There are many other pieces of information that you may want to include in your business plan
You are more than welcome to include any relevant information that describes how you successfully run you and how you plan to reach your goals.
Here is my final piece of advice for you;
Make sure that you don’t overcomplicate things.
More words are not better.
In fact, your business plan in Kenya will be the most useful if you keep it short and relatively simple.
If you write a document that’s 20 40 or more pages long, chances are high that nobody will ever go back and read it again.
A business plan is a written document that describes your business, its objectives and strategies, and how you will achieve them. It outlines your marketing plan, financial projections, and operational procedures.
A business plan is important because it helps potential investors or lenders understand your business concept, objectives, and strategies. It also gives an overview of the financial viability of the business and helps you analyze potential risks.
A business plan should include a summary of your business concept, products and services, market segment, target consumers, marketing plan, financial plan, including cash flow statement, balance sheet, profit and loss statement, and sales forecast, operational procedures, personnel, infrastructure, and ownership.
The cost of writing a business plan varies depending on the complexity of the business and the depth of the analysis required. On average, it can range from KES 10,000 to KES 50,000.
Every business owner, whether an established entrepreneur or a startup, should write a business plan. It is a crucial document required to give potential investors an overview of the business and its financial viability.
To attract an investor with your business plan, you need to clearly define your business concept, market segment, target consumers, and marketing plan. You should also provide financial projections, including the required investment and the expected return on investment.
The purpose of a financial plan in a business plan is to provide an overview of the business’s financial viability. It includes cash flow statement, balance sheet, profit and loss statement, and sales forecast.
To write a marketing plan for your business, you’ll need to analyze your market segment, determine your target consumers, and define your promotional, advertising, and sales strategies to attract and retain them. You should also set objectives and strict budgets for your promotion and advertising activities.
You should update your business plan constantly to reflect changes in your business environment, like increased competition, new regulations, or changes in your products or services. You should review and update it at least once a year, or whenever significant changes occur.
A profit and loss statement is a financial statement that shows the revenues, expenses, and net income or loss of a business for a specific period, usually monthly or annually. It helps business owners analyze their profit margins and identify areas where they can cut costs and increase revenue.
Yes, every business needs insurance to protect its assets, employees, and customers. You should consider insurance options, like liability insurance, property insurance, or workers’ compensation insurance, depending on your business operations and risks.
