You’re developing a business plan for your banking business. What are the most important things to consider?

2 Market analysis

This section provides a detailed overview of the banking industry and the specific market segment that you are targeting. It should demonstrate that you have done thorough research and that you understand the trends, opportunities, challenges, and risks that affect your banking business. It should also include a customer analysis, where you define your ideal customer profile, their needs, preferences, and behaviors, and how you plan to reach and serve them.

3 Business model

This section explains how your banking business will generate revenue and profit from your products and services. It should describe the features and benefits of your offerings, the pricing strategy, the distribution channels, the revenue streams, and the cost structure. It should also show how your banking business will create and deliver value to your customers and stakeholders.

4 Marketing strategy

This section outlines how you will promote and sell your banking business to your target market. It should cover the four Ps of marketing: product, price, place, and promotion. It should also specify your marketing objectives, your unique selling proposition, your positioning statement, your branding strategy, and your marketing mix. It should also include a marketing budget and a timeline for implementing your marketing activities.

5 Management and operations

This section describes the organizational structure and the operational processes of your banking business. It should include the roles and responsibilities of your management team, your staff, your advisors, and your partners. It should also detail the legal and regulatory aspects of your banking business, such as the type of entity, the licenses, the permits, and the compliance requirements. It should also provide information on the equipment, facilities, technology, and resources that you need to run your banking business.

6 Financial plan

This section presents the financial projections and assumptions of your banking business. It should include the income statement, the balance sheet, the cash flow statement, and the break-even analysis. It should also indicate the sources and uses of funds, the capital requirements, the funding strategy, and the exit strategy. It should also highlight the key financial indicators and ratios that measure the performance and viability of your banking business.

7 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?