YOU

WHY

SS PLAN
A BUSINE
NEED

BUSINESS
DEVELOPMENT
BASICS

A GUIDE DESIGNED TO HELP YOU

DEVELOP YOUR MASTER BUSINESS PLAN

Metropolitan Links Inc.

 Whether you are in the process of launching a startup
business, expanding your existing business or initiating a
internal project you need a business plan to guide your
decisions, aid you in selling your current and new ideas and
manage your business growth.

USINESS
IS A B
WHAT LAN?
P
A business plan is a detailed
document that describes what you
or a group of individuals plan to do.

COMMON
MISCONCEPTION...
You have to have a business plan to start a
business.

Many billion dollar companies such as Google, Apple, and Yahoo

started their business without a business plan. Many people who
want to start a business have spent extraordinary amounts of time
trying to develop the perfect business plan instead of just starting
their business. Business plans are not complicated to create once
you have a clear idea of what products or services you would like
to offer. Sometimes it is better to jump right in to gain a clear idea
of what it is that you would like to offer.
Metropolitan Links Inc.
Good Business
Plans Include...
The Opportunity STEP
Clearly describes the
business opportunity that 01
you are interested in
pursuing.

STEP
The Market
02 Clearly identifies and describes
the people your products or
services will be offered to.

STEP
The Team
Clearly identifies the people and
unique qualifications you will need
03
to achieve success in your
business.

STEP
The Resources
04 Clearly explains the
resources required for
success..

The Forecast STEP

Provides a forecast of
anticipated results over a
reasonable time horizon.
05
Metropolitan Links Inc.
 ss Plans
Busine
Also...
Help create and provide a complete picture of a
organization.

Help executives with existing organizations manage

their organization, allocate their resources, focus on
organization priorities, and prepare for opportunities
and problems that may arise.

Aid potential investors, partners and others in

understanding the organization’s strategy and chances
of success.

These living documents require constant review and revision.

Updates that are made to the business plan should reflect
changes in market conditions, evolving strategies, and
performance to ensure that the business plan continues to
serve as a valuable resource to support strategic, financial
and operational decisions.

Metropolitan Links Inc.

 SH OU LD
O U
WHY Y U SIN ES S
A B
HAVE
PLAN...
Every business needs a business plan eventually, but
business plans serve different functions depending on the
situation:

Used
To...
by...
Entrepreneurs and startup -Outline business goals and
companies strategies
-Convey their vision to potential
investors and partners and to
lenders to secure funding
Existing organizations -Request funding for expanding
or creating a spinoff
-Attract talented employees,
partners and new prospects
-Help executives manage the
business with more strategy,
focus, and effectiveness
Teams or individuals -Propose or secure funding for
within an existing a new initiative
organization

Metropolitan Links Inc.

 Business plans typically range from informal outlines to formal
documents. To secure funding, you almost always need to
produce a formal plan. Even if outside investments isn’t a
concern, the process of creating a business plan can help you:

Evaluate the feasibility of your idea

Increase your motivation for actually executing the project

Shed light on potential problems, such as overestimating the

amount of revenue to be earned or underestimating expenses

E NT S OF
P ON
COM IC AL
A TY P
S S P LAN
BUS IN E
Every organization is unique, therefore every business
plan is unique. However, most business plans follow a
standard structure that includes several defined sections:
Opening Sections
Brief overviews and summaries
Body
In- depth details and descriptions of the main elements
(who, how, what and where) of the organization.

Attachments
Include the most detailed information, including financial data,
and management resumes that are typically found at the end of
the plan.
Metropolitan Links Inc.
A business plan typically includes some combination of these
distinct sections:

Section Purpose
Cover page Includes the business name, the
date, and the CEO’s name and
contact information

Table of contents Lists the plans sections, enabling

readers to easily navigate the
document

Executive summary Provides a concise overview of the

business plan and states what is
being requested from readers, such
as funding or additional resources

Business description Summarizes the business structure,

concept, objectives, and why the
business will be successful

Management description Describes the management team

and members qualifications and
experience

Industry background Provides information on the

industry’s size, growth, and trends,
and how the product or service will
fit into the industry
Metropolitan Links Inc. Inc.
Competitive analysis Reviews the organizations and
products that solve the same
problem or fill the same need

Market analysis Describe the target market and key

value proposition

Marketing plan Explains the plan for marketing the

product or service

Operations plan Explains how the day to day

operations will work

Financial plan Contains financial protections, the

resources that are necessary and
how the resources will be utilized

Attachments Includes financial data and and

management resumes

Not all business plans follow this

structure. A plan may combine
sections, add new sections or
eliminate others contingent on

NOTE your preferences. Understand

why you are writing the plan
and tailor the plan and the
information you are including
specifically for your intended
audience

Metropolitan Links Inc.

 Example
You are developing a business plan to launch your company.
At this stage, the plan will only be reviewed internally. You
will be able to combine the business environment analysis
with the discussion of the fustry background. Or you may not
need an operations plan i the operations won’t differ from
what your business is currently doing.

WHAT MAKES A
GOOD BUSINESS
PLAN?

A good business plan presents a business opportunity in a

engaging and understandable way. It provides readers with the
information they need to make decisions for the organization. You
can create a well-crafted business plan but if it doesn’t make the
best case for the venture ou are pursuing then it is invaluable.

Simple They are easy to

GOOD PLANS understand and to act on.

ARE... Specific Concrete goals are set

with measurable objectives, specific
actions, responsibilities and deadlines.

Realistic The sales goals, expense budgets, milestones and

deadlines are achievable.

Complete Includes all of the information needed to make

key strategic and financial decisions.
Up to date Actively updated and monitors progress made.
Metropolitan Links Inc.
 Business plans are only as good as the ideas that you put into them.
There are not substitutes for the substantial thought and effort it
takes to design good business plans.

BUILD A FLEXIBLE
BUSINESS PLAN

Think of the most successful, inspiring companies you know. Did

any of them really start with a formal business plan? Could you
possibly imagine Ray Kroc, Steve Jobs, Sergey Brin, putting
together a massive book of slides of a PowerPoint prensentation
before they really got their business started? No. Each are great
founders who followed a parallel path of doing and thinking.

To create a great and flexible business plan you need to do five things...

One Start from the heart

Very few businesses start with the mind. Very many businesses start
from the heart. You must believe in what you are doing with every
fiber of your body. Every passionate once of energy you have has to go
into a great business idea.

Two Think big, start small, scale

fast.
Big ideas are great but you have to start small. Learning how to start small is
essential. It enables you to learn how to be practical. Thinking of big ideas
dares you to be great. However, you have to know the reality of knowing
when you must fail or when you possibly have the right to grow fast.
Metropolitan Links Inc.
Three Keep a basic and simple framework
Keep it as simple as possible when describe the details behind
your plan. When describing the...

People discuss who is on your team, what they will do and

what they bring to the table.

Idea describe what is yours, how it is unique, and how it

compares to your competitors.

Model describe how you theoretically are going to generate

revenue, and how you will make profit

Market describe the people you are theoretically pursuing. The

market does not have to big a big group.

Four Understand trade offs

People, the idea, the model and the market are the four most
critical elements of any business plan, however people always
trump idea. You may have to make certain trade offs when
attempting to implement your business plan if you have a B or C
team even if you have a A idea.

Five Keep it iterative

No business plan follows any exact standard of a perfect architectural
plan. All business plans require pivoting, adaptability, an iterative
mindset, so you can be flexible in your thinking. Be flexible, think and
do at the same time so you can create a great business plan.

Metropolitan Links Inc.

 FO U R
TAKE INT O
A CTO R S
F N T
AC CO U

Before you begin developing your business plan you need to

carefully consider the four factors that are critical to every
business venture. The readers of your plan will be looking to see if
you have addressed these aspects of your business, they are
integral to the success of your business and plan.

Make sure you thoroughly analyze:

Factor Questions to consider

People Do you have the best and most
experienced people to start and run
the venture?

Do you have the right parties to provide key

services or resources?

Opportunity Do you have a clear vision and

understanding of the business, itself, such as
what it will sell or provide and to whom?

Can the business grow, and how quickly?

How long before the business make a

profit?

Metropolitan Links Inc.

 Is the business sustainable?

Who and what stands in the way of success?

Context Do you understand the factors that will

change and influence your business but
over which you have no control, such as
the regulatory environment, interest rates,
demographic trends or inflation

Risk and reward Have you considered everything that can

go right and wrong?

Have you considered the personal and

financial risks of the venture?

How will you mitigate risk?

How will you and your team respond to

challenges and obstacles?

If you have answered these

questions, you are ready to
begin your plan. If you have
not take time to examine
each of the questions.
Doing so will increase your
chances of success and
help you avoid making
mistakes.

Metropolitan Links Inc.

 ABOUT
THINK TATION
LE MEN
IMP
As you develop your business plan, consider how you will
implement it. After all, the business plan is not the essence of
the document it is the strategy captured within it and how it is
put into practice.

To make implementation possible, you need to build in specific

metrics that can be tracked and measured, including:
TARGETS (GOALS & REVENUE)
MILESTONES
DEADLINES
BUDGETS
CASH FLOW PROJECTIONS

Once you decide on your metrics, you need a plan for

measuring and tracking them. Specify:
HOW YOU WILL MONITOR THEM
HOW FREQUENTLY YOU WILL MONITOR THEM
WHO WILL MONITOR THEM

Finally, you need a process for regularly reviewing the business

plan. You will want to revisit your plan frequently so you can
reassess and adjust it as necessary.

Metropolitan Links Inc.

 G FR OM
VIATIN
DE SIN ES S
THE BU S
LEAD
Creating a business plan is one of the most extraordinary things
entrepreneurs do. It is a challenge for entrepreneurs and even
people in the corporate world to do. Business plans require the
creators to change what they are doing entirely or just change
moderately.

The reason that is is tough is because people take the mindset

that “I have already made the investment. There is too much
invested thus far, so I am going to stay with it.” But that type of
mindset flies in the face of what is taught traditionally in
business school. What many learn in business school is the
importance of pivoting, as well as the importance of embracing
the theory of sunk cost. The theory of sunk cost says:
YOUR DECISIONS TOMORROW SHOULD NOT
BE AFFECTED BY YOUR INVESTMENT
YESTERDAY.

Many entrepreneurs experience tough times. Being a

entrepreneur is much harder than many of us expected us to be
especially when it seems that your business plan is really not
working. When things are not really working will you be ready to
go and possibly do something different?

It is actually ok to let go and to pivot to do something

differently. If you do that, you possibly provide yourself with
Metropolitan Links Inc.
the opportunity for something great to happen to you. Do not
worry about letting go being viewed as a failure. To deviate from
business is a common course of action, and it is acceptable to do
that.

Maybe you should think about letting go because if you do that

you allow yourself to let go, and open yourself to receive that
new great idea or opportunity.

HE N T O
W O UR
H AU L Y
OVE R LA N
IN E SS P
BUS
Completely review and update your business plan when....
A NEW FINANCIAL PERIOD IS ABOUT TO BEGIN

YOUR ORGANIZATION NEED FINANCING

THE ECONOMY, CONSUMER TRENDS,

REGULATORY REQUIREMENTS, OR COMPETITORS
TRIGGER CHANGES IN THE MARKET

ORGANIZATION IS RELEASING A NEW PRODUCT

OR SERVICE

EXECUTIVE LEADERSHIP HAS CHANGED

Metropolitan Links Inc.

 YOUR COMPANY HAS REACHED A NEW
MILESTONE

THE PLAN IS NO LONGER WORKING OR

ACCURATELY REFLECTING YOUR BUSINESS

Adapt
TO YOUR
MARKET AS IT CHANGES

It’s important to remember that no matter how smart you are,

a business plan that looks great on paper will not always work
in the marketplace. No business plan ever survived it’s first
encounter within the marketplace. You have got to get out
there and rest and learn to figure out where your idea needs
Metropolitan Links Inc.
work.

Never discount the importance of expertise. There are people who

understand markets and the pros and cons in that market. Your
way of thinking and looking at the world and attempting to build
a new market without an injection of some fresh form of thing it
can lead to some trouble. You cannot always bring your mindset
to business.

E R TH ESE
U R E M EMB
IF YO G S YO U CAN SE
THIN Y IN C R EA
AM AT ICALL N OVATE
DR I LI TY TO IN
ER
U R A B R M A ST
YO A TE YOU
E
AND CR SINESS PLAN.
BU

Metropolitan Links Inc.