BUSINESS PLAN PREPARATION
OVERVIEW
Business Plan is a formal document which defines the vision of your business, clarifies your ideas, thoughts and goals and how it can be attained. This written plan helps you in describing your strategies, leadership, and staffing, financing and operations model for your new or existing venture. You have to clearly define your tactics, techniques, and steps for achieving your ultimate goal. This plan consists of a roadmap of business that how it will be carried on. Your costs and marketing planning along with projected earnings should be mentioned in business plan because that explains you about your future outcome or earning. The main objective of your written plan is to elucidate the mission and vision of your business; it directly reflects your thinking on the paper in written form. You written business plan keeps you on track to success and reviews your progress. The foremost objective of your business plan is getting finance from the potential lenders and investors by presenting them your vision into a written form. If your business plan has some potential power in it that can influence lenders in providing finance for your business.
Advantage of Business plan
Determine the amount of Funding:
Since a neat Business plan covers all expect of business, it covers the projected financials too helps the owner to determine the amount of funding they need.
Setting Priorities:
A Business cannot do everything at once therefore it must set priorities. It should take right action at a right time. Your time, effort and resources should be allocated strategically.
Manage Change:
There can be any change occurred in the Industry and a business must be ready for it. With a good Business plan you can always track the new development in the business and accordingly it can be managed.
Accountability:
The business plan sets projected milestones, therefore, sets expectation keeps the staff accountable for any uncertainty
Components of Business Plan:
Your business plan has some components which must be covered while making your plan and they are following 1. Executive summary 2. Product or service description 3. The solution to the problem 4. Mission statement 5. Leadership 6. Market analysis 7. SWOT analysis (strengths, weaknesses, opportunities, strengths) 8. Marketing plan 9. Financial projections 10. Cash flow analysis
Procedure of Business Plan Preparation:
Overview of Business :
One of our Experts initiate discussion with you to understand business requirements and do complete analysis of your Business.
Research:
Our Experts do proper research of your Business and the issues it may face in order to grow. Deeper the understanding, Better the Business Plan.
Draft Business Plan:
On the basis of discussion with you and Industry overview our experts will share a draft Business Plan and once you approve it, they will share the final Business Plan. Ongoing support with smile We are not only giving services, we are continuously making your dreams come true. Just take a step to walk with us you’ll reach to your destination with a smile of confidence.