Business plan is a blueprint for entrepreneurs for business development towards a more successful and more profitable. Every entrepreneur who has opened a business or to launch a business, need a business plan that is made well and based on facts to improve its chances of success.
Sit down and take a break, to get an idea, how to prepare a quality business plan is needed in order to increase business development.
Many studies have proven that companies that conduct business plan will beat a company that does not have a business plan.
Most small companies are less scrupulous in drafting and developing its business to which direction will be taken.
In fact, companies that do not spend weeks to prepare and develop a business plan, have failed due to the lack of a business plan that will they stand.
The business plan is a written summary of the company's establishment plan or plans of doing business which contain detailed description of operations and financial plans, opportunities and marketing strategies as well as management skills.
The business plan outlines the direction and goals of the company wants to accomplish, along with a strategy to achieve it as a road map for entrepreneurs towards building successful businesses.
Some ideas that can be used to construct a quality business plan is as follows:
Summary
This element is a brief summary, the entire contents of a business plan, either in relation to business objectives, business strategy, and general description of the business, the marketing plan, production plan, financial plan, human resources plan, and business risks in the future.
An overview of business
This element describes the vision and mission, along with a business carried on goods and services produced, objectives, strategies and achievements. Overview of the company's current position, and future, target market, competitive advantage, business location, core management, establishment, management concepts that are run and so forth
Marketing plan
This element describes the selected market share as well as marketing and promotional mix that made the company to meet the needs and desires of consumers, sales budgets, pricing strategy, distribution strategy implemented and so forth.
Analysis of competition
This element describes the strength of the company against business competitors, strengths, and weaknesses of competitors.
Production plan
This element describes the production process, how the company is maintaining the quality of the product, how do companies obtain supplies of raw materials, goods and services, plant site selection considerations, production budgets and so on. This description is very important especially for companies engaged in manufacturing.
Financial plan
This element describes the financial projections that indicate profit expectations, projected financial statements, cash flow projections, break-even point, capital needs, and the projected return on investment.
Human resource plan
This element describes the personnel required both in terms of quantity as well as the knowledge, skills and abilities needed to run the company.
The main risks faced by
This element describes the risks faced by the business in the future with anticipation by the company to address these risks. The business plan is usually arranged between 25-50 pages.
Business plans that are too short, often not able to provide an adequate picture of the business. Likewise too long, has probably not used or is not readable. In the preparation of the business plan, the entrepreneur should pay attention to basic elements of a business plan as mentioned above as a starting point to put them together and have to be modified as needed based on existing conditions. So the business plan can actually be used as a road map to business success is built.
I have read this post. collection of post is a nice one about business plan ideas..
ReplyDelete