What is this for?
A Business Plan is often essential when trying to convince potential funders who want to know where their money will be going.
The plan should also include an introduction to the management team, a marketing plan, an operations and financial plan, and any other requirements. This means covering all the different aspects that a funding partner might be interested in, using the kind of language they will be looking out for.
Business Plan is a way of providing more detail on the operational and economic foundation of how you will make this a reality. The structured worksheet of the Business Plan helps you describe what makes your idea for social impact a viable endeavour.
This worksheet points out the key aspects that you need to keep in mind as you develop your Business Plan. During the process you’ll come up with much better ways of explaining of what makes your idea for social good feasible
Writing up the business overview is a good place to start. This includes a few paragraphs about the main idea, the need and market for it. This will be followed up by your plan for action and what makes your team strong for this task.
While approaching funders or donors, a key component of the Business Plan is to have a clear statement of why you need the money, how the money will be spent and how it can be earned back. An important element in the Business Plan is the executive summary.