ENTREPRENEURSHIP

Lecture No: 24
BY
CH. SHAHZAD ANSAR
Creating and
starting the
venture-IV
Using and implementing the
Business plan
 Introduction

 Planning is necessary to ascertain the

progress of business
 Planning phase should go side by side
in every aspect of business
 Without planning business collapses
 Entrepreneur can enhance effective
implementation of the business plan by
developing a schedule to measure
progress
 Measuring Plan Progress
 An entrepreneur should check:
1. Profit and loss statement
2. Cash flow projections
3. Information o inventory
4. Production
5. Quality
6. Sales
7. Collection of account receivables
Control Elements in Measuring Plan
Progress (Contd..)
 Inventory Control
 Production Control
 Quality Control
 Sales Control
 Disbursements
 Updating the Plan
 The most effective business plan can
become out of date if conditions change
 Entrepreneur should focus on the internal
and external factors to make his plan up
to date.
 Entrepreneur should maintain reasonalbe
targets and goals
 Why some business plan fail
 Goals are unreasonable
 Goals are not measurable
 Lack of commitment by the entrepreneur
 Lack of experience of entrepreneur
 Ignoring the customer need
 Entrepreneur has no sense of potential
threats to the business