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Bussiness Plan (Roll No. 15,16,17,18)

Bussiness Plan (Roll No. 15,16,17,18)

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Published by Saumya Pandey

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Categories:Types, Research
Published by: Saumya Pandey on Sep 16, 2012
Copyright:Attribution Non-commercial

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Over view of business plan
Introduction to the Business Plan Concept
Before starting a new business or expanding an existing business, you shoulddevelop a business plan. The business plan will serve many purposes.First, it will help you define the purpose of your business and organize it. It also
helps you determine the business’s growth patterns
and any consequentproblems before they arise; thus enabling you to more effectively deal withthem.The business plan is an agreement on how your management team plans tocarry out certain functions to achieve business results and serve as a means of 
measuring the company’s
performance. Lastly, the business plan is adocument that will assist when raising capital from banks, private investors, or other sources. The business plan should strongly communicate the businessconcept, its viability, the business model and the management structure thatwill be used to reach the business objectives.Here's a road map, or checklist, to guide you in your writing. Although everybusiness plan should reflect the opportunities, concepts and entrepreneurialteam that fit a particular business, it is important to consider the full range of issues you and your potential investors are likely to face. A business plan willoften build and refine the key concepts developed within the Proof of BusinessConcept (Feasibility Study) that you conducted to formally justify the businessconcept prior to committing the resources needed to develop a formal businessplan.
Function of a Business Plan
The best business plans are both management guides and selling tools.Writing a business plan should help you think through most of the issues youwill face in starting a business. While you will not prevent all surprises, at leastyou should be able to plan for the more likely eventualities, freeing yourself torespond creatively to the true surprises.Communicating a business plan to partners - including investors, major customers or suppliers, and key employees - should generate useful feedbackon all aspects of the business.Finally, the business plan itself should serve as a useful tool
 –
along withpersonal contact - for convincing such partners to sign on to your vision
 
The Business Plan Narrative
Strong business plans communicate a compelling story about how a particular business will grow to take advantage of a promising business opportunity.There are four major sections of most plans:
The executive summary - which is written last but presented first -
opens minds 
: Here are some very specific bits of information, passionand sophistication that will make you
want 
to read the rest of this plan.
The product-oriented sections
educate 
: Here is my product or serviceand how it fills a notable need in the marketing place.
The market-oriented sections
entice 
: Look at the fit between the productor service and the niche; look at the shape and size of the market; thereshould be a great opportunity evident.The financial and operational sections
reassure 
by anticipating and respondingto typical questions:In case you were worried, here is how we will cope with the competition, withindustry trends, with regulatory risks, etc. In any case, we have made thesevery cautious financial assumptions and have a very credible managementteam capable of responding to almost anything it confronts.There are some things that do not belong in a business plan. For example,while many investors will invest only if they can see an exit strategy and manyappreciate an entrepreneur who is sensitive to their need to cash out, few willinvest in an entrepreneur who talks about exit strategies unless the exitstrategy demonstrates a clear business model for return on investment.
 
The first steps in creating a business plan are to outline and define the scopeof your business. Each of the following eight key areas of your business needsto be addressed with a two to three paragraph description. In subsequentstages of writing your business plan, you will be investigating, developing,refining, and expanding these issues in much greater depth and detail.1. Company Overview2. Product/Service Description3. Industry and Marketplace Analysis4. Marketing Strategy5. Distribution and Sales Strategy6. Operations Plan7. Development Plan8. Financial EstimatesCompany Name (or type):_________________________________________________ Date Established (actual or estimated): ______________________________________ Key Team Members: ____________________________________________________  ______________________________________________________________  ________ Who is preparing this plan:__________________________________.Date:______________________.1.
Company overview
: Describe the general industry and operational natureof what your business does.2.
Product/service description:
More specifically, describe the types,features, benefits, method and frequency of consumption, for each product or service you will sell.3. Is there a market for your products/services? How big is the overall market?How big is the share your business is targeting?4.
Marketing Strategy
: Who will purchase your product/service? How muchwill they pay? On average, how much profit will you earn from each sale?

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