How To Develop Your Business Plan

Table of contents:

How To Develop Your Business Plan
How To Develop Your Business Plan

Video: How To Develop Your Business Plan

Video: How To Develop Your Business Plan
Video: How to Write a Business Plan - Entrepreneurship 101 2024, March
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A business plan is a program that includes a description of the company's actions, information about it, about a product, services, their production, sales markets, as well as information about the effectiveness of the organization. Competent planning contributes to the development of the company, increasing its profits. Be responsibly developing a business plan, as the further work of your organization will develop in accordance with it.

Proper planning is the key to business prosperity
Proper planning is the key to business prosperity

It is necessary

  • - tutorials
  • - methodical literature

Instructions

Step 1

Decide on a business idea, that is, what exactly you want to do. Assess your possibilities for its implementation in practice.

Step 2

Clarify the goals for which you are writing this business plan: determine the sequence of actions of the organization, study consumer demand, identify sources of funding. Decide on the addressee to whom your plan will be sent: a bank, an investor, or it is made only for personal use.

Step 3

Study information on entrepreneurship. Refer to the textbooks, if possible, get advice from the business center. It will be useful to take courses for aspiring entrepreneurs. There you will be given the necessary information on business planning.

Step 4

Make a rough outline of your future business plan. Outline what you will write about, in which part to do the calculations.

Step 5

Start working more deeply on each point of the plan. Here it is best to turn to consultants for help: lawyers, tax specialists, economists.

Step 6

Be sure to research consumer demand. The more potential consumers are interviewed, the more reliable the information will be, which means that the course of your future activities will be correct. It is also recommended to study the experience of competitors in order to anticipate possible mistakes in the work.

Step 7

Justify the choice of the form of the enterprise (individual entrepreneur, limited liability company, etc.). As an attachment to the business plan, collect as many different information as possible that will show your knowledge in the chosen business and will help you in your work: price lists of raw material suppliers, description production technology, loan repayment schedule, etc. This data will be useful to you for further calculations. Here you also indicate the need for licenses, technical conditions. In the absence of these documents, indicate under what conditions they can be obtained.

Step 8

Estimate the resources that you have at the moment, what else is needed, where will you get the rest, on what terms.

Step 9

Indicate if there is a need to attract labor. If there is a need for “scarce” specialists, think about what conditions to offer them so that they are more profitable than competitors.

Step 10

Analyze and plan possible costs for electricity, water, communications. Reflect your calculations in a business plan.

Step 11

Often the activity of an enterprise does not start due to problems with environmental, sanitary and other supervisory services. To prevent this from happening, in the business plan, note whether the permissions of these services are needed to carry out your activities.

Step 12

Indicate the strengths and weaknesses of your business. What will be its feature, the difference from competing enterprises. Also assess the possible risks and ways to overcome them.

Step 13

Based on the marketing research you have done, make optimistic and pessimistic forecasts of your firm's performance. This is necessary in order, in the first case, to trace the dynamics of the enterprise's development, and in the second, to assess possible losses, since in any case it will be necessary to repay the loan. Marketing activities include: identification of possible "niches" of the enterprise, development of goods and services meeting the requirements of consumers, the choice of methods for promoting goods, setting prices for goods and services, choosing suppliers, etc.

Step 14

After the development of the business plan, a title page is written with the name of the organization and the surname of the head, the essence of the project is briefly written, the payback period is indicated, as well as by whom and when this business plan was developed. then it will be easier for you to adjust goals, ways of achieving goals, means necessary for business development.

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