How to Create a Business Plan
The “I Imagine” app features a business plan page where users can create their own business plan from scratch or by using any of the available templates on the website. The feature is easy to use. Users can save their work and continue with it for later use. Users can edit their plans anytime.
Here is a tutorial on how you can create your own business plan from scratch on the “I Imagine” website.
How to Create a Business Plan from Scratch
Login to your “I Imagine” account. You will be brought to your “I Imagine” account home page.
On your home page, go to Business Plans. You will be brought to the Business Plans page.
On the Business Plans page, click the Create New button.
On step 1, enter your business name and full name. You can optionally add a logo by clicking the Upload button. Click the Next button once you’re done.
On step 2, tick the correct box that corresponds to your answer.
If the purpose of your business plan is to source financing, enter the amount your business requires and what it will be used for. Once you’re done, click the Next button.
On step 3, enter the following: problem summary, solution summary, market, competition, why customers should choose your business, summary of financial forecast, and the financing your business needs.
The 3rd step will contain the Executive Summary of your business plan. Click the Next button once you’re done entering the necessary details.
On step 4, enter the following: company overview, company ownership your company’s mission statement, company history, location, hours of operation, fund acquisition, and exit strategy. This step will contain the Company Information in your business plan.
If you’re not sure what to enter in the fields provided, there is a guide that will give you an idea on what information is asked from you. A good example is the field “Fund Acquisition” as seen below:
According to the instruction, you should be able to “explain how your company has been funded in the past and how it will be funded in the future”. This kind of instruction can help you write down the information that is needed to finish your plan.
Once all fields are filled out, click the Next button.
Step 5 will contain information about your products, services, and the technologies that your business will use to deliver your products and services. Enter an overview of your products, services, and technologies. Click the Next button once you’ve entered everything.
On step 6, enter the following details: overview of overall market, your target market, competition, market trends, market growth, and industry analysis. This information will be in included in the Market Analysis of your business plan. Click the Next button when you’re finished.
On step 7, enter your website strategy, benefits forecast, development requirements, and expense budget. This will all be added into the Web Plan Summary of your business plan. Click the Next button once you’re done.
On the 8th step, you will be entering information for your Marketing Strategy and Implementation Summary. This will include your marketing and sales strategy, market positioning, pricing, advertising and promotions, distribution, milestone and metrics, SWOT analysis, and competitive edge. Once all fields are filled out, click the Next button.
The 9th step will require the following information: business overview, management team, management team gaps, and personnel plan. This will be included in your business plan’s Management History. Click the Next button when you’re done.
On the final step, you will be asked to enter your financial plan. The “I Imagine” app has a feature that enables users to simply download its template. This can be used to enter the financial information necessary in a business plan. Click the Download link to download the “I Imagine” financial plan template.
Alternatively, if you already have a financial plan ready, you can upload it on the app. However, make sure that it is in the .xlsx format,or it should be a Microsoft Excel file. Click the Upload link to upload your financial plan.
Once you’re done, click the Done button.
That is how you can create a new business plan in the “I Imagine” app from scratch.