Business Plan Checklist for a Small Business
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A business plan is useful only if its claims and figures stand up to checking. Use this checklist to review a draft before sharing it with a partner, lender or investor.
The detail needed depends on the business and the person reviewing the plan.
Preparation
Have the draft, cost quotations, market research and any existing business records available. Mark estimates so they are not confused with actual results.
Review Steps
- Check the customer. Explain who buys, the problem you solve and how you know there is demand.
- Check the offer. State what is sold, what is included and why it differs from alternatives.
- Check operations. Identify premises, suppliers, equipment, staff and delivery arrangements.
- Check sales assumptions. Explain how the forecast number of customers and selling prices were chosen.
- Check costs and cash flow. Include startup expenses, recurring bills and the timing of receipts and payments.
- Check the funding request. Show what the money buys and how the proposal relates to the financial forecast.
- Check risks and evidence. Add relevant quotations, records and qualifications. Explain what happens if sales are lower than expected.
Tip: Have someone unfamiliar with your business read the summary. If they cannot explain the offer and customer afterwards, simplify it.
Warning: A polished presentation does not make unsupported projections reliable. Verify Kenyan legal, licensing and tax requirements separately.
