Study the structure of a business plan.
A business plan is a detailed plan for setting up or developing a business, especially one that is written in order to borrow money.
A business plan is primarily a management tool. It helps you to focus on the future growth of your company. The business plan acts as a control device against which management can measure their achievement. A well-formulated plan includes the following parts.
An introduction to the business
It is the most important part of the document. It should create the right impression on the reader. It includes the background of the business, that is when it was started, the highlights of its progress, and an outline of the key roles of management of personnel. It should also include a statement of its projected activities and the funds required.
The Business’s Objectives and Related Strategies.
This section describes the targets of the business and the way in which the management intends to reach those targets. In this section you must describe how and where you plan to sell and distribute your product or service. You should also explain the pricing strategy and policy foryour product or service. You are supposed to show how your pricing approach will enable you to
· penetrate the market
· maintain and increase market share in a competitive environment
· make a profit
The Principal Activities. Products and History.
This section describes the product or service, its key features and its benefits to potential customers. It is always useful to include brochures and leaflets about your product in the business plan.
The Markets. Customers Competition.
The purpose of his section is to convince the financier;
· that there is demand in the market for the particular goods or services of our business;
· that you know your product and the niche that it fills in the market-place
· that you have confidence in the product or service.
This section should also provide an analysis of existing and potential customers, the market size and trend, and competition.
Research and Development
In this section you should describe the stage f development of the product and the funds necessary to complete development, test and establish the product in the market-place.
You should explain how your business’s management team is organized and describe each member’s role, their duties and responsibilities and demonstrate their abilityfor the task.
The Basis of Operation
A potential investor in our business wants to know how you plan to operate your business, who your suppliers are and what they supply, other sources of supply, distribution and accounting systems
The business plan should include the following financial information:
· Projected profit and loss statement
· Cash flow forecast
· Projected balance sheet
· Break-even analysis which shows whether income from your sale is equal to you expenses on purchases, rent and other things.
The business plan should describe the risks which your business is vulnerable to and how you intend to monitor and control them.
The Long-Term Pans of the Business.
This section describes objective for your business for a longer period of time.
This part includes budgeting schedules, product literature, etc.
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