Professional Documents
Culture Documents
Introduction
This Business Plan Development Form helps Udd Consulting evaluate the feasibility of your new
business idea in an objective, critical, and unemotional way. The process of developing your
business plan will help Udd Consulting outline your goals and the methods by which you plan to
reach them. Udd Consulting uses this document as a tool to begin determining these various
aspects of your business idea in the process of developing your plan into and bankable document.
2. In the spaces provided, begin documenting information or answers to the questions posed.
3. If you are not sure of an answer or detail in a certain section, leave it blank for now.
Udd Consulting will review what you have documented so far and work with you to determine
answers for any areas that you had not yet completed. And, in addition to your business plan
assistance, our network offers many more services to help you achieve your goal. A reminder that
this service is provided at no-cost and that they are confidential, personalized and in-depth will be
sent to you through your e-mail, WhatsApp or Telegram, if you do not supply Udd Consulting
with the required information on this form to facilitate your work.
Congrats on your plan to start or grow your business. We look forward to helping you succeed!
Udd Consulting
… we beat datelnes
Udd Consulting is only consulting and guiding you as an entrepreneur and do not act as your
solicitor, representative or agent. Highlighting some common errors in business plan preparation
1. Submitting a “rough copy,” (with food stains, dirt and turn pages). This tells the reader that
your management does not take the planning process seriously.
3. Unsubstantiated assumptions can hurt a business plan; the business owner must be prepared to
explain the “why” of every point in the plan to convince the prospective investor or sponsor, as
some of them may not be professional enough to ascertain the success claim of your project.
4. Too much “blue sky” - a failure to consider prospective pitfalls - will lead the reader to
conclude that the idea is not realistic.
6. Lack of specific, detailed strategies. A plan that includes only general statements of strategy
(“We will provide world class service and the lowest possible price.”) without important details
on how you will achieve this, will be dismissed as fluff. Especially if the business plan is
prepared for a lender:
7. Lack of Equity Contribution. No indication that the owner has anything at stake. The lender
expects the entrepreneur or the project promoter to have some equity capital invested in the
business before the willingness to sponsor is ascertained. Your knowledge, experience,
management skills, qualification, ownership of land or ability to rent one at least is your
contribution and should be captured in the Plan in terms of Naira and Kobo to show your
sponsor that you are not just a free for all taker. Money is difficult to gather, talk less of saving.
It is fragile, it is liquid and it is volatile! Nobody will like to play with his or her hard earned
money!
8. Unwillingness to personally guarantee any loans. If the business owner is not willing to stand
behind his or her project, then why should the bank or the venture sponsor? Understanding what
a loan is, will guide the Entrepreneur appropriately.
9. Starting the plan with unrealistic loan amounts or terms. Do your homework and propose a
realistic structure.
10. Too much focus on collateral. Even for a cash-secured loan, the banker is looking toward
projected profits for repayment of the loan. Cash flow should be emphasized as the source of
repayment. This is a thorough analysis of the project cash flow to show the steps, periods and
other methods with which you, the lender will pay back the money with the accruing interest.
This is the area the investor is very emphatic and critical, because, the investor believes S/he
should reap more that S/he sown.
Udd Consulting
2020/05/18
Answer the following Questions to enable Udd Consulting to serve you better.
Section One:
The Business
2. The features and benefits of what I am/we are selling or offering are:
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3. My/Our products/services differ from my competitors by:
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5. Customers will buy from me/us because:
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Marketing Plan
2. My/our pricing strategy is (For example: premium, every day, low price, frequent sales, per
term/Semester):
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4. I/We will be involved with the business by completing the following duties:
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6. If I/we need to hire new employees, I/we will need to hire for these new positions:
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11. Changes
I/We am/are considering for the business (if purchasing an existing business):
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Notes:
2. I/We have included resumes for the following key management personnel:
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5. Other professionals that I/We will use are (accountant, banker, insurance agent, engineer,
Economist, Medical Doctor, consultant, etc.):
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SWOT Analysis
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8. I/we see the following opportunities for my/our business (external characteristics):
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Notes:
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Financials
1. The total investment sum required for the project/ company/institution in Naira, is:
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2. The collateral I/we can use for financing in Naira worth includes:
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3. My/our credit history is/are:
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5. If I am/we are short of money for my/our project, I/we can get more from:
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6. My/our bank is/are, or the bank(s) I/we would like to work with is/are:
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