8 Factors for a Great Business Plan Dubai Startups Must Keep in Mind

If you’re starting a new business or have just launched a new business in Dubai or UAE, there’s one thing that you can’t afford to not do—and that’s create a great business plan.

A smartly-created business plan helps Dubai-based entrepreneurs work more smartly, stay more watchful for roadblocks, speed test new business ideas, and align expectations with investors and stakeholders.
In short, a smartly-crafted business plan is your roadmap. Without it, you are likely to get lost, sooner rather than later.

Thankfully, creating a business plan becomes an easier task if you make sure it has these 8 essential elements:

• Executive Summary

This is a snapshot of the business plan you’ve created. While you’re going to write it after everything else, it’s likely to prove the most crucial part of your business plan.
Why so?
Because most readers won’t read even a line further if they don’t like what’s written in this section.
As a Dubai-based startup company, you can create an impressive executive summary by focusing on not only your experiences and background but also those of your partners, if you have any. Doing so will help you show your business’ underpinnings to the readers.

• Company Description

In here comes the description about your company. List concisely but precisely what is exactly that your company’s into, as well as what separates it from competitors. Also list all your major customers, along with the markets you’re going to focus on in the near future. Don’t forget to mention any competitive advantage that your business enjoys. This could be its location or a new product that’s in the pipeline or something else.

• Market Analysis

Understanding your market is extremely important. You must know not only how much your customers spend but also when. This is particularly important in case your company is likely to generate more revenue at certain specific times of the year. Also research your competitors, as well as their profit margins and cash flows. You must also be aware of the latest technological developments that might prove to be a game-changer.

• Organization, Management

A detailed business plan must spell out details regarding ownership. This includes investors as well as the organizational chart. Tell the reader if your company is a corporation, partnership or sole proprietorship. In case it is the former, specify which type (Free Zone, LLC…etc.)

• Service/Product Line

Of course no business plan can be complete if it doesn’t include the all-important information regarding the product or service that the company is selling. So ensure you include this information in your business plan. Specify what is it that you sell and other useful information like how your product/service will help the customer and how soon he or she will be required to replace it. Answers to such questions can prove crucial from the point of view of business sustainability. Finally, include any copyrights or patents that you own.

• Sales and Marketing

You might have the brightest idea ever but nothing much will come out of it until you find a way to effectively communicate it to your prospective customers. Are you planning to advertise or offer promotional discounts? Or are you simply going to depend on word-of-mouth marketing? It is important that your marketing strategy and tools are tailor-made to your business market.

• Funding Request

The last two sections, this one and the next, are extremely important. Even if you’ve filled all the previous sections clearly and craftily, your business plan will fail to help you woo investors unless you clearly define your funding request and financial projections.
Mention the amount of money you need to launch your business, as well as information about how you’re going to generate returns (in case of investors) or repay the borrowed amount (in case of debt financing).
Whether you choose investors or debt financing, both would be interested in knowing how you plan to spend their money, as well as when you’ll be able to pay them back. 

• Financial Projections

Unless you’re launching a new business with your parent’s money, investors would like to see your financial projections. To convince investors that your financial projections are indeed realistic, show them your financial statements of the past few months.

For more info about how to create accurate, powerful business plans for Dubai and UAE startups, get in touch with us and we will be more than happy to help you out!