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Here’s the hard part, right at the beginning: the value of a business plan is measured in money. So you should pay much attention to this document whether you write it yourself or you order it from a consulting firm.
What is company business plan in the UAE?
To make your business idea a reality, you need a business plan. A business plan clearly defines a company’s goals and how it will achieve them. Having a road map helps you reach your journey’s end successfully. Business plans do the same for small businesses and startups. As they lay out the milestones SMEs need to reach to build a profitable business. It’s a well-known fact that over half of startups are unsuccessful in their attempts to secure funding, just because they do not have adequate experience or understanding to get through the initial stages. A good business plan is also essential for identifying and overcoming obstacles along the way. Each part of a business plan helps you reach your goals, including the financial aspects, marketing, operations and sales.
Why do I need a business plan while opening a company in UAE
Starting a new business or opening a new branch or office, especially abroad, comes with challenges. Being prepared for those challenges can greatly decrease their impact on your business. One important step in preparing for the challenges your company may face is getting a solid business plan. From another point of view a good business plan helps you understand more clearly what you need to do to reach your goals. The finished business plan also serves as a reminder to you of these goals. It’s a valuable tool that you can refer back to, helping you stay focused and on track.
How to get a business plan done in the UAE, Dubai
There is usually no “ready-to-go” template for business plans as they may differ and contain absolutely different information. Whether you are entering new market, developing new product line, searching for financing, establishing a new company – your business plan will look different. The same as for a company format – a business plan for existing company will differ from a business plan for a startup. If you have some spare time and detailed data about the market that you are entering, you can write a business plan yourself. Or you can delegate this process to a consulting firm. With the support of Accurate Middle East, you can overcome, and get an accurate and comprehensive business plan with will help to make your pitch deck down to earth and to prove to investors and partners that you can deliver on your promises.
Goal-oriented business plans in UAE
Before working on business plan, it’s important to know the purpose of creating it. Here are the three main reasons you should have a business plan:
1) Establish a business focus. This type of business plan you need in order to outline your business perspective, set a goal and show the best way to achieve it.
2) Funding or capital raising. You can come across another kind of business plan when you need a business plan for investors to show that you see the business models and financial models in details and your business ides looks solid.
3) Attract executives. As your business grows, you’ll likely need to add executives to your team. A business plan helps you attract executive talent and determine whether or not they are a good fit for your company.
What is a good business plan in the UAE market?
As we have already mentioned, there can be no recommended business plan outline. Every company, situation and business environment are different and the business plan needs to be tailored to reflect that. However, we can highlight the main parts that every business plan usually contain. Business plan structure and content Ideally your business plan should highlight a specific set of questions about your business. What make a business plan a good business plan: it has to be suitable and easy to use for everyone and practical. For example, if you have in mind to use business plan, you should be able to use it for investors who wants to read the plan cover to cover, and for your business partners who you want to collaborate. But again, it’s better to make each business plan according to specific needs and audience so that it can cover the rules and fulfill the main requirements. A practical or existing businesses business plans showing casing business development perspective may contain:
- Problem
- Solution
- Key metrics
- Unique proposition
- Unfair advantage
- Channels
- Customer targets
- Cost structures
- Revenue streams
Traditional business plan structure - business plan development in the UAE
Traditional plans are lengthy documents, sometimes as long as 30 or 40 pages. A traditional business plan acts as a blueprint of a new business, detailing its progress from the time it launches to several years in the future when the startup is an established business. The following areas are covered in a traditional business plan:
- Executive summary
- Company description
- Products and services
- Market analysis
- Management team
- Financial plan
- Operational plan
- Appendices
Having a good business in the UAE plan means that it is:
With that in mind, here are some of the qualities of a good business plan, in order of importance:
- It fits the business need
- It’s realistic. It can be implemented.
- It’s specific. You can track results against plan.
- It clearly defines responsibilities for implementation
- It clearly identifies assumptions
- It’s communicated to the people who have to run it
- It gets people committed
- It’s kept alive by follow up and planning process
One of essential parts in developing a business plan is market plan and results of your market research. Market study clearly define who your target audience is, where you will find customers, how you will reach them and, most importantly, how you will deliver your product or service to them. If you want to make your business plan relevant, you will need a deep analysis of your ideal customer and how your business provides a solution for them.
Order business plan in UAE, Dubai
For over 20 years Accurate Middle East experts have been supporting UAE, European and Russian companies in building scalable businesses by providing consulting and experts advice on business setup and development, concept verification, market research, business and financial plans. If you want to discuss your business task with us, press the button below and we will reach you as soon as possible.
FAQ
What is included in the business plan?
Typically, a business plan includes detailed overview of business model, market analysis (based on research), business & marketing strategies and financial plan (cost & revenue projections / profitability). Tentatively, a business plan is 20-35 pages depending on the complexity of the business and takes 4 weeks to complete.
What is the cost of a Business Plan Consultant in Dubai?
The cost of a business plan services in Dubai varies depending on the scope of work, number of consulting hours and nature of fieldwork, in case market research (i.e. survey & interviews with consumers) is required.
How long does it take to prepare a business plan?
A business plan takes typically 4 weeks to complete. In some cases, a business plan can be completed within 2 weeks timeframe as well.
What is a typical process of a Business Plan Consultant in Dubai?
We initiate discussions (Phone / Skype / Email / F2F Meetings) to understand your needs. We review the requirements and prepare a detailed cost proposal, mentioning the scope, deliverables, cost and timeline. Upon agreeing on the proposal and signing the agreement, we begin with setting up the project and commencing with the fieldwork and development of business plan. Once the business plan is ready, we share the draft to take inputs and feedback. We revise and make updates if necessary.
What about non-disclosure and confidentiality of our business ideas and concept?
We understand the sensitivities attached with business concept and ideas. We provide full assurance with regards to the confidentiality of the business plan.
How much do you charge upfront?
Tentatively, we charge between 50% upfront and 50% upon completion. However in some cases, where we need to engage in fieldwork, we charge slightly higher.
What experience do you have of Dubai, UAE & Gulf market?
Can you provide references of your past customers?
Yes, we can provide references of our past customers whom we have supported in Business Plan, Market Research and Feasibility Study services.
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