THE ABCs OF A BUSINESS PLAN

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THE ABCs OF A BUSINESS PLAN

Different types of business plans

Table of contents: a quick and easy way to find to find individual sections in the plan.

Contact person: identification of the company. samples: advertisements, advertising, marketing

the cover: the first impression stakeholders or investors get of a company.

Why a business plan?

Determine financial needs and request funds. Determine the amount, type and sources of funding and when it is required. Use the business plan in the funding request process.

Inform employees. Use as a means to inform/motivate employees about the company's objectives.

Derive objectives for employees. Derived from the business plan measures and targets for organizational units and individuals.

What is a business plan?

should be complete, honest, objective, well-structured and easy to read.

It is normally updated annually and annually and is anticipated over a period usually ranging from three to five years.

This is a detailed report on a company's products or services, production techniques, markets and production techniques, markets and customers, marketing strategy

Who reads the business plan?

Development funds. These venture capital funds are established and supported supported mainly by governments or governmental institutions

Private investment funds: The objective of these funds is to make a profit and they will examine your business until they are convinced that they can earn a substantial return on their capital with calculable risk. future profits or appointment to a company's board of directors.

Commercial banks: Commercial banks provide loans to viable businesses on standard market terms and conditions.This may consist, depending on the banks' order of preference, of cash accounts, precious metals, marketable securities, infrastructure (land, buildings, machinery).

How to prepare a business plan?

. What are the steps in the planning process?

Elaborate the business plan

Set objectives

Getting ready

Developing a mission: clear mission statement for your company.

Assessing the situation:how your customers, partners, competitors and suppliers view your business.

Who prepares a business plan?

The marketing and sales manager, who has a better understanding of market demand, market growth potential, customers' specific requirements, prices they are willing to pay specific customer requirements, the prices they are willing to pay, competitors' movements, etc.

The marketing and sales manager, who understands best the demand of the market, its growth potential, the specific requirements of clients, the prices that they are ready to pay, the moves of competitors, etc.

The Chief Executive Officer (CEO), who should have the main responsibility for supervising the business planning process;