Various Benefits of Preparing A Business Plan

RUTUJA HEMANT KULKARNI

HPGD/JA21G2/3974
FINANCE

WELINKAR INSTITUTE OF MANAGEMENT DEVELOPMENT &

RESEARCH
March 2023

ACKNOWLEDGEMENT

I wish to this opportunity in expressing my sincere thanks to the people, I am obliged to them
for their encouragement and inspiration that lead me through this project. I express my deep
sense of gratitude to my project guide Vaibhav Kulkarni.
I would also like to thanks all my friends and family members, who had directly or indirectly
given their kind co-operation and encouragement. I admit that co-operation and morality are
keyword to success.

RUTUJA HEMANT KULKARNI

Various Benefits of Preparing A Business Plan

 RUTUJA HEMANT KULKARNI
HPGD/JA21G2/3974
FINANCE

WELINKAR INSTITUTE OF MANAGEMENT DEVELOPMENT &

RESEARCH
March 2023

ACKNOWLEDGEMENT

I wish to this opportunity in expressing my sincere thanks to the people, I am obliged to them
for their encouragement and inspiration that lead me through this project. I express my deep
sense of gratitude to my project guide Vaibhav Kulkarni.

SIGNATURE OF GUIDE
NAME: Mr. VAIBHAV KULKARNI
DESIGNATION: Engineer
ADDRESS: UBS Global, Sector 20 B,
 MSEB Staff Colony,
Sector 20, Airoli

UNDERTAKING BY CANDIDATE

I declare that project work entitled “Various Benefits of Preparing A Business Plan
” is my own work conducted as part of my syllabus.
I further declare that project work presented has been prepared personally by me and it is not
sourced from any outside agency. I understand that, any such malpractice will have very
serious consequence and my admission to the program will be cancelled without any refund
of fees.

I am also aware that, I may face legal action, if I follow such malpractice.

Rutuja Hemant Kulkanri ,

Signature of Candidate
 TABLE OF CONTENTS
 TITLE PAGE ----------------------------------------------------------------------------------1
 ACKNOWLEDGEMENT --------------------------------------------------------------------2
 CERTIFICATE FROM THE GUIDE --------------------------------------------------------3
 UNDERTAKING BY CANDIDATE --------------------------------------------------------4
 INTRODUCTION------------------------------------------------------------------------------5
 BENEFITS OF VARIOUS BUSINESS PLAN
 ADAVANTAGES OF BUSINESS PLAN
 DISADVANTAGES OF BUSINESS PLAN
 PLANNING
 7 MAIN NATURE AND FEATURES OF PLANNING IN BUSINESS
 6 TYPES OF BUSINESS PLAN
 HOW TO WRITE A BUSINESS PLAN FOR ANY BUISNESS
 WHAT TO INCLUDE IN EACH AND EVERY SECTION OF YOU BUSINESS
PLAN
 EXAMPLES OF BUSINESS PLAN
 10 BENEFITS OF BUSINESS PLAN
 5 PRINCIPLES OF BUSINESS PLAN
 HOW TO EXCECUTE BUSINESS PLAN
 CONCLUSION


 INTRODUCTION
Business Plan is a document in which a business opportunity, or a
business already under way, is identified, described and analyzed,
examining its technical, economic and financial feasibility. The Plan
develops all of the procedures and strategies necessary in order to
convert the business opportunity into an actual business project. The
purpose of a Business Plan is to identify, describe and analyze a
business opportunity and/or a business already under way, examining
its technical, economic and financial feasibility. 9 Moreover, it should
serve as a business card for introducing the business to others: banks,
investors, institutions, public bodies or any other agent involved,
when it comes time to seek cooperation or financial support of any
kind.
 BENEFITS OF VARIOUS BUSINESS PLAN

 What is a Business Plan?

 What is the purpose of a Business Plan?
 Why prepare a Business Plan?
 Content of a Business plan
 Financial Plan

 What is a Business Plan?
 A Business Plan is a document in which a business opportunity, or a business already
under way, is identified, described and analyzed, examining its technical, economic
and financial feasibility. The Plan develops all of the procedures and strategies
necessary in order to convert the business opportunity into an actual business project.

 It is an indispensable tool in order to start up a business project, independently of the

size of the project and/or of the amount of business experience of the entrepreneur.

 It provides an answer to simple questions about a new business or a business already

under way
 What is the purpose of a Business Plan?
 The purpose of a Business Plan is to identify, describe and analyze a business
opportunity and/or a business already under way, examining its technical, economic
and financial feasibility.
 Moreover, it should serve as a business card for introducing the business to others:
banks, investors, institutions, public bodies or any other agent involved, when it
comes time to seek cooperation or financial support of any kind
 A Business Plan has a dual function: 1. Management Tool. 2. Planning Tool.
 Management Tool:
 Provides economic/financial projections. 1. Enhances the monitoring and control of
the business by following up the results obtained and analyzing management
indicators. 2.Introduces an analysis of the supply and demand. 3 Reflects the
commercial strategy and the marketing policy. 4. Identifies the guidelines for the
management of human resources. 5. Analyzes the key factors of success and the
risks of a business
 Planning Tool
 The company assumes and takes responsibility for the definition of its objectives:
 With results-oriented actions
 Strict fulfillment of its economic commitments
 Orients decision-making processes
 Provides qualitative and quantitative information
 Planning conforms to a homogeneous pattern.


Why prepare a Business Plan?
 Content of a Business Plan
 ANALYSIS OF THE PRESENT SITUATION:
 What is the sector like? What is the present situation of the sector and the future
outlook?
 2. Who are the competition in the sector in which the company participates and what
is the degree of rivalry among competitors? Who are the potential competitors
 ? 3. What are the main factors that determine the success or failure of a competitor in
the sector?
 4. In what way is our business different from the business of our competition?
 5. Identify weaknesses, threats, strengths and opportunities of the business.
 6. Is there a target market for this business?

 BUSINESS PLAN OBJECTIVES:

 1. What are the reasons for investing in this business?
 2. What does my business consist of? What are the goods or services that I am going
to offer?
 3. What strategy am I going to follow in order to maintain a competitive advantage
over time; specialization, differentiation or competition in costs?
 4. What areas or processes are critical for the development of the business? What
areas are supports for the critical processes of the business?
 5. What are my perspectives on the evolution of the business?
 STRATEGIC PLAN:
 1. What is the mission of my company?
 2. How are the strategic lines of my project going to unfold as long-term objectives?
 3. Have specific action plans been defined for achieving the long-term objectives?
Have resources been allocated to such plans?
 4. How is my marketing policy structured? Have I considered the price, location,
product, promotional aspects?
 5. How many employees comprise my staff? And what are my personnel management
policies?
 6. Have I planned for the financial needs that could arise in the long term?
 Financial Plan
 The purpose is to analyze the profitability and economic feasibility of the business
project.
 1.This analysis is the quantification of the strategy defined by the entrepreneur and
will enable him or her to analyze the economic impact of the decision making.
 2. A full analysis includes a projection for the time horizon considered in the
Business Plan.
 Income and Expenditure Projections:
 2. Investment Budget and Depreciation Schedule
 3. Profit and Loss Account
 4.Borrowing Requirements
 5. Balance Sheet
 6. Cash Flow
 7.Net Present Value

  ADAVANTAGES OF BUSINESS PLAN
 1. Creation of a Marketing Roadmap

 Marketing is an important aspect of a business plan. It helps to define your target market(s),
target customers and how you will promote and place your product / service to these
markets / customers.

 2. Increased Clarity

 A business plan can bring clarity to the decision-making process regarding key aspects of the
business such as capital investments, leases, resourcing, etc. You can't do everything. A good
Business Plan will help you identify business critical priorities and milestones to focus on.

 3. Helps to Secure Talent

 For a business to succeed, attracting talented workers and partners is vital. Part of a
business plan’s purpose is to help bring in the right talent, at the right time. Staff want to
understand the vision, how the business will achieve its goals, and how they can contribute
to this in their own roles.

 4. Support for Funding

 Whether you’re seeking credit from a bank or capital from investors, a business plan that
answers questions about profitability and revenue generation is often required.

 5. Provides Structure

 A business plan provides structure and defines business management objectives. It becomes
a reference tool to keep the business on track with sales targets and operational milestones.
When used properly and consulted regularly, it can help measure and manage your priority
areas of focus.


 DISADVANTAGES OF BUSINESS PLAN
 As small-business owners now know, a pandemic is just one external factor that can upend
the potential advantages of planning. Political unrest, strikes and natural calamities are other
such factors. But if you confine this exercise to internal factors alone, the disadvantages of
planning still add up quickly. Management Study Guide notes that these disadvantages
include:

 inflexibility – a feeling that you must adhere to the plan and never deviate

 discouraging creativity, innovation, initiative and experimentation after the plan is set

 breeding a false sense of security and tunnel vision, stemming from putting too much stock
in the plan and not seeing or reacting to changing conditions
 blinding employees to opportunities that were not foreseen and addressed
 being a time consuming process, requiring research, analysis and interpretation
 being expensive, drawing resources away from a business when they could be used on other
things
 being rendered obsolete or irrelevant in a heartbeat

 Planning
Planning is the process by which managers establish goals and define the methods by which
these goals are to be attained. Planning involves selecting missions and objectives and the
actions to achieve them; it requires decision making, which is choosing from among
alternative future courses of action. Planning is deciding in advance what is to be done; that is
a plan is a projected course of action.”
7 1.Main Nature and Features of Planning in Business
Management begins with planning and planning begins with the
determining of objectives. In the absence of objectives no
organization can ever be thought about. With the determining of
objective, the way to achieve the objective is decided in the planning.
In case, it is necessary to change the previously decided course of
action for the attainment of objectives, there is no hesitation to do so.
It is thus clear that planning is helpful in the attainment of objectives.
For example, a company decides to achieve annual sales of? 12
crores. After deciding upon this objective, planning to achieve this
objective shall immediately come into force. It was thought to achieve
this objective by giving advertisement in the newspapers. After some
time it comes to be known that the medium of advertisement appeared
to be incapable of achieving the target. In such a situation the medium
of advertisement can be changed and it can be shifted from
newspapers to television in this way, every possible change is made
through the planned action for the purpose of achieving the objective
 (2) Planning is Primary Function of Management

Planning is the first important function of management. The other

functions, e.g., organising, staffing, directing and controlling come
later. In the absence of planning no other function of management can
be performed. This is the base of other functions of management. For
example, a company plans to achieve a sales target of 112 crores a
year. In order to achieve this target the second function of
management, i.e., organising comes into operation. Under it the
purchase, sales, production and financial activities are decided upon.
In order to complete these activities, different departments and
positions are decided upon. The authority and responsibility of every
position are decided upon. After the work of organising, information
about the number of different people at different levels required to
achieve the objective shall have to be provided. This job will be
performed under staffing. Similarly, planning is the base of other
functions like directing and controlling.
 (3) Planning is Pervasive

Since the job of planning is performed by the managers at different

levels working in the enterprise, it is appropriate to call it all-
pervasive. Planning is an important function of every manager; he
may be a managing director of the organization or a foreman in a
factory. The time spent by the higher-level managers in the process
of planning is comparatively more than the time spent by the middle-
level and lower-level managers. It is, therefore, clear that all the
managers working in an enterprise have to plan their activities. For
example, the decision to expand business is taken by the higher-level
managers. The decision to sell products is taken by the middle-level
and lower-level managers.
 (4) Planning is Continuous

Planning is a continuous process for the following

reasons:
 Plans are prepared for a particular period. Hence,
there is need for a new plan after the expiry of that
period
 In case of any discrepancy plans are to be revised.
 In case of rapid changes in the business
environment plans are to be revised
 (5) Planning is Futuristic

• Planning decides the plan of action what is to be done, how is it

to be done, when it to be done, by whom is it to be done all
these questions are related to future. Under planning, answers to
these questions are found out. While an effort is made to find
out these answers, the possibility of social, economic, technical
and changes in legal framework are kept in mind. Since
planning is concerned with future activities, it is called
futuristic. For example, a company is planning to market a new
product. While doing so it shall have to keep in mind the
customs and the interests/tastes of the people and also the
possibility of any change in them.
 (6) Planning Involves Decision Making
Planning becomes a necessity when there are many alternatives to
do a job. A planner chooses the most appropriate alternative.
Therefore, it can be asserted that planning is a process of selecting
the best and rejecting the inappropriate. It is, therefore, observed
that planning involves decision making. For example, Mr. Anthony
lives in a town where only commerce stream is taught in schools. His
daughter has passed matrix and wants to get admission in 10 + 1. It is
evident that there is only one option for her, i.e., commerce. She
doesn’t have to think or plan anything. On the other hand, if all the
three faculties’ art, science & commerce were available in the
schools, she would have to definitely think and plan about the
subject of study. It would have been be nothing but decision making
in this case.

7) Planning is a Mental Exercise

Planning is known as a mental exercise as it is related to thinking
before doing something.
 6 Types of Business Plans

 Start-Up Business Plans

New businesses should detail the steps to start the new enterprise with a start-up
business plan. This document typically includes sections describing the
company, the product or service your business will supply, market evaluations
and your projected management team. Potential investors will also require a
financial analysis with spreadsheets describing financial areas including, but not
limited to, income, profit and cash flow projections.

 Internal Business Plans

 Internal business plans target a specific audience within the business, for
example, the marketing team who need to evaluate a proposed project.
This document will describe the company’s current state, including
operational costs and profitability, then calculate if and how the business
will repay any capital needed for the project. Internal plans provide
information about project marketing, hiring and tech costs. They also
typically include a market analysis illustrating target demographics,
market size and the market’s positive effect on the company income .

 Strategic Business Plans

 A strategic business plan provides a high-level view of a company’s
goals and how it will achieve them, laying out a foundational plan for
the entire company. While the structure of a strategic plan differs from
company to company, most include five elements: business vision,
mission statement, definition of critical success factors, strategies for
achieving objectives and an implementation schedule. A strategic
business plan brings all levels of the business into the big picture,
inspiring employees to work together to create a successful culmination
to the company’s goals .
 Feasibility Business Plans
 A feasibility business plan answers two primary questions about a
proposed business venture: who, if anyone, will purchase the service or
product a company wants to sell, and if the venture can turn a profit.
Feasibility business plans include, but are not limited to, sections
describing the need for the product or service, target demographics and
 required capital. A feasibility plan ends with recommendations for going
forward.
 Operations Business Plans
 Operations plans are internal plans that consist of elements related to
company operations. An operations plan, specifies implementation
markers and deadlines for the coming year. The operations plan outlines
employees’ responsibilities.
 Growth Business Plans
 Growth plans or expansion plans are in-depth descriptions of proposed
growth and are written for internal or external purposes. If company
growth requires investment, a growth plan may include complete
descriptions of the company, its management and officers. The plan
must provide all company details to satisfy potential investors. If a
growth plan needs no capital, the authors may forego obvious company
descriptions, but will include financial sales and expense projections.
 Writing a Business Plan
 Market Analysis
 The market analysis section will take time to write and research as a lot of
effort and research need to go into it. Here is where you have the
opportunity to describe what trends are showing up, what the growth rate
in this sector looks like, what the current size of this industry is and who
your target audience is. A cleaning business plan, for example, may
include how this sector has been growing by 10% every year due to an
increase in large businesses being built in the city.
 Financial Projections & Appendix
 The financial business plan section can be a tricky one to write
as it is based on projections. Usually what is included is the
short-term projection, which is a year broken down by month
and should include start-up permits, equipment, and licenses that
are required. This is followed by a three-year projection broken
down by year and many often write a five-year projection, but
this does not need to be included in the business plan.
 Organization and Management
 Marketing and sales are the part of the business plan where you
explain how you will attract and retain clients. How are you
reaching your target customers and what incentives do you offer
that will keep them coming back? For a dry cleaner business
plan, perhaps if they refer customers, they will get 10% off their
next visit. In addition, you may want to explain what needs to be
done in order for the business to be profitable. This is a great
way of showing that you are conscious about what clear steps
need to be taken to make a business successful.
 How to write a business plan
 There are a few key things to keep in mind to help you write an
effective business plan.
Know your audience. When you know who will be reading your plan
—even if you’re just writing it for yourself, to clarify your ideas—
you can tailor the language and level of detail to them. This can also
help you make sure you’re including the most relevant information
and figure out when to omit sections that aren’t as impactful.
Have a clear goal. You’ll need to put in more work, and deliver a
more thorough plan, if your goal is to secure funding for your
business versus working through a plan for yourself or even your
team.
Invest time in research. Sections of your business plan will primarily
be informed by your ideas and vision, but some of the most crucial
information you’ll need to include relies on research from
independent sources. This is where you can invest time in
understanding who you’re selling to, whether there’s demand for your
products, and who else is selling similar products or services.
Keep it short and to the point. No matter who you’re writing for,
your business plan should be short and readable—generally, no longer
than 15 to 20 pages. If you do have additional documents you think
may be valuable to your audience and your goals, consider adding
them as appendices.
Keep the tone, style, and voice consistent. This is best managed by
having a single person write the plan or allowing time for the plan to
be properly edited before distributing it.
  WHAT TO INCLUDE IN EACH AND EVERY
SECTION OF YOU BUSINESS PLAN

Now that you’ve got an outline or a template in place, it’s time to fill
it in. We’ve broken it down by section to help you build your plan
step-by-step.

Executive summary

A good executive summary is one of the most crucial sections of your

plan—it’s also the last section you should write.

The executive summary’s purpose is to distill everything that follows

and give time-crunched reviewers (e.g., potential investors) a high-
level overview of your business that persuades them to read further.
Again, it’s a summary, so highlight the key points you’ve uncovered
while writing your plan. If you’re writing for your own planning
purposes, you can skip the summary altogether—although you might
want to give it a try anyways, just for practice.

An executive summary shouldn’t exceed one page. Admittedly, that

space constraint can make squeezing in all of the salient information a
bit stressful—but it’s not impossible. Here’s what your business plan’s
executive summary should include:

 Business concept. What does your business do?

 Business goals and vision. What does your business want to do?
 Product description and differentiation. What do you sell, and
why is it different?
 Target market. Who do you sell to?
 Marketing plan. How do you plan on reaching your customers?
 Current financial state. What do you currently earn in revenue?
 Projected financial state. What do you foresee earning in
revenue?
 The ask. How much money are you asking for?
 The team. Who’s involved in the business?
 Company overview

This section of your business plan should answer two fundamental

questions: Who are you, and what do you plan to do? Answering
these questions provides an introduction to why you’re in business,
why you’re different, what you have going for you, and why you’re a
good investment bet.

Clarifying these details is still a useful exercise even if you’re the

only person who’s going to see them. It's an opportunity to put to
paper some of the more intangible facets of your business, like your
principles, ideals, and cultural philosophies. Here are some of the
components you should include in your company overview:

 Your business structure (Are you a sole proprietorship, general

partnership, limited partnership, or an incorporated company?)
 The nature of your business (What are you selling?)
 Your industry
 Your business’s vision, mission, and values
 Background information on your business or its history
 Business objectives, both short and long term
 Your team, including key personnel and their salaries
Some of these points are statements of fact, but others will require a
bit more thought to define, especially when it comes to your
business’s vision, mission, and values. This is where you start getting
to the core of why your business exists, what you hope to accomplish,
and what you stand for.
 SWOT ANALYSIS
A SWOT analysis looks at your strengths, weaknesses, opportunities,
and threats. What are the best things about your company? What are
you not so good at? What market or industry shifts can you take
advantage of and turn into opportunities? Are there external factors
threatening your ability to succeed?
These breakdowns often are presented as a grid, with bullet points in
each section breaking down the most relevant information—so you
can probably skip writing full paragraphs here. Strengths and
weaknesses—both internal company factors—are listed first, with
opportunities and threats following in the next row. With this visual
presentation, your reader quickly can see the positive and negative
internal and external factors that may impact your business.
Here’s an example.

Strengths Weaknesses

 Previous experience  No team management

scaling ecommerce experience
business  Breakable product,
 Strong ad management making shipping more
experience expensive
 Patented product
 Exclusive deal with
manufacturing company

Opportunities Threats

 Strong growth in product  Regulation pending for

category sales product category in
 No “market leader” in international markets
category; many smaller
firms
 COMPETATIVE ANALYSIS

There are three overarching factors you can use to differentiate your
business in the face of competition:

 Cost leadership. You have capacity to maximize profits by

offering lower prices than the majority of your competitors to
maximize profits. Examples include companies
like Mejuri and Endy.
 Differentiation. Your product or service offers something
distinct from the current cost leaders in your industry and banks
on standing out based on your uniqueness. Think of companies
like Knix and Qalo.
 Segmentation. You focus on a very specific or “niche” target
market and focus on building traction with a smaller audience
before moving on to a broader market. Companies
like TomboyX and Heyday Footwear are great examples of this
strategy.To understand which is the best fit, you’ll need to
understand your business as well as the competitive landscape.
You’ll always have competition in the market, even with an
innovative product, so it’s important to include a competitive
overview in your business plan. If you’re entering an established
market, include a list of a few companies you consider direct
competitors and how you plan to differentiate your products and
business from theirs.
Consumer's benefit
Now that you have a list of your products and services in front of,
know who your customers are, it's time to also jot down the value you
bring to them. While this might seem like a not-so-important task and
something that can be managed with a general understanding of what
you offer, your value proposition is something that can be different in
the eyes of every team member. To keep your marketing and sales
efforts aligned, ensure the consumer's benefits are also documented in
your business plan. 

Marketing plan

Your marketing efforts are directly informed by your ideal customer.

Your plan should outline your current decisions and your future
strategy, with a focus on how your ideas are a fit for that ideal
customer. If you’re planning to invest heavily in ads on Instagram, for
example, it might make sense to include whether Instagram is a
leading platform for your audience—if it’s not, it might be a sign to
rethink your marketing plan.

Most marketing plans include information on four key subjects. How

much detail you present on each will depend on both your business
and your plan’s audience.

 Price. How much do your products cost, and why have you

made that decision?
 Product. What are you selling, and how do you differentiate it
in the market?
 Promotion. How will you get your products in front of your
ideal customer?
 Place. Where will you sell your products?
Promotion may be the bulk of your plan, since you can more readily
dive into tactical details, but the other three areas should be covered at
least briefly—each is an important strategic lever in your marketing
mix.
Logistics and operations plan

Logistics and operations are the workflows you’ll implement to make

your ideas a reality. If you’re writing a business plan for your own
planning purposes, this is still an important section to consider, even
though you might not need to include the same level of detail as if
you were seeking investment.

Cover all parts of your planned operations, including:

 Suppliers. Where do you get the raw materials you need for

production, or where are your products produced? 
 Production. Will you make, manufacture, wholesale,
or dropship your products? How long does it take to produce
your products and get them shipped to you? How will you
handle a busy season or an unexpected spike in demand?
 Facilities. Where will you and any team members work? Do
you plan to have physical retail space? If yes, where?
 Equipment. What tools and technology do you require to be up
and running? This includes everything from computers to
lightbulbs and everything in between.
 Shipping and fulfillment. Will you be handling all the
fulfillment tasks in-house, or will you use a third-party
fulfillment partner?
 Inventory. How much will you keep on hand, and where will it
be stored? How will you ship it to partners if required, and how
will you keep track of incoming and outgoing inventory?
This section should signal to your reader that you’ve got a solid
understanding of your supply chain, and strong contingency plans in
place to cover potential uncertainty. If your reader is you, it should
give you a basis to make other important decisions, like how to price
your products to cover your estimated costs, and at what point you
plan to break even on your initial spending.
  EXAMPLES OF BUSINESS PLAN
Anupam Mittal: Founder and CEO of shaadi.com
he founder of Shaadi.com and the angel investor in hundreds of
startups suddenly got the celeb mode on when he entered Shark Tank.
Anupam Mittal has been one of the most sought-after investors in the
startup ecosystem in India and that's the image he has been able to
carry forward while being one of the sharks on Shark Tank India, the
reality TV show aired on Sony Channel. The entrepreneur-investor
found the experience truly an eye-opener as he connected with the
founders of real Bharat rather than just being reached out for
investment by people who were privileged to get access to him.
Talking about the same and the fame he earned as a shark, Mittal
mentions, "For me, that was a great reminder of the sort of staying
close to the ground. Prior to Shark Tank Season One, people knew my
name already but we were not celebrities. We wouldn't ever get
mobbed on the streets and we wouldn't have people trembling when
they came to us to take photos. But after season one, that's what
started to happen. I'm not going to run away from it, I enjoyed it."

The first-time innocent, second-time prepared pitchers this season

came from all across India. They saw pitchers from Raipur,
Aurangabad, Ahmadabad, and many such cities. Talking about the
investment world, which is going through a crisis globally, Mittal
says, "Early-stage funding has dropped by 70-75% by some estimates
even in India. In this situation, during season two, we invested in 102
companies, which is 50% more than what we invested last year. I
think that sends a very strong signal to founders and to the world that
India is open for business."

Talking about the world of social media, wherein content is built in an

entertaining fashion and the same goes for reality TV shows wherein
business plans were discussed in an entertaining and educating
manner. According to Mittal, "Being boring is the biggest crime in the
21st century. We have a way of making it entertaining for people
while we still do the in-depth analysis. So you still get the substance
but in a lot of styles."
As a shark, Mittal would have listened to almost 400 pitches and at
times gets amazed by their marketing skills, wherein social media
plays an important role. He finds it amazing how people market
products there without spending much money. As per him, "We have
been spending a lot on traditional media as a brand. We have spent on
television and digital media for performance marketing. But I see
people running 20-30 crore businesses with just social media
marketing, without spending money. It made us rethink our entire
strategy and we've doubled up massively in the last few months on
social media. Not on the performance side, but on the social media
engagement side." Some 20-year-olds are running the social media
game for Shaadi.com.

A lot of bootstrapped small businesses with sizable turnover have

come to Shark Tank in Season 2. On what makes it the popular
platform, Mittal acknowledges, "They're not going to VCs because
they're scared of them. They're coming to us because first of all,
they're getting a national platform. And secondly, because they think
we can provide them the guidance and mentorship to take them to the
next level without actually digging our claws into them."  Anupam
Mittal has so far invested in close to  270 odd startups. Out of which
about 40-50 would be of Shark Tank in two seasons.

Being an investor, Mittal further utilized his social media presence to

reach the startup community in a bigger way. He launched 'Dream
Deal' on Instagram and got about 200 entries, and later picked three of
them and gave them a grant without any equity. The money was given
to create a proof of concept of the idea. Interestingly, one of them
further built it in the form of a sizable business and came to pitch on
Shark Tank Season 2.
 2.Aman Gupta: Success Story Of Boat Company’s
Co-Founder & CMO
Mr. Aman Gupta is co-founder of this astonishing Brand. His hard work
has definitely paid off. And so he is confident to say that his brand is
ruling the market currently
  Mr. Aman Gupta-An Entrepreneur who has set an example in the
business world in a short span and is known today for his Success and
Dedication. Today we all have portable music systems with most trendy
collections and that too at an affordable price. All credit goes to boAt.
 Aman Gupta was born in the year 1982. He pursued his
bachelor’s Degree in Commerce from Delhi University after
which he joined The Institute of Chartered Accounts of
India.
 He also pursued MBA in General Management and
Marketing as an Exchange student at the Kellogg School of
Management from Northwestern University and then went
for an MBA in Finance, and Strategy at the Indian School of
Business.
 He started his career as an Assistant Manager with Citi. He
later became the CEO and Co-founder of Advanced
Telemedia Pvt Ltd. He then joined as Senior Management
Consultant at KPMG.
 Later he joined as Sales Director at Harman International.
 Ultimately Mr. Aman Gupta founded boAt in the year 2016
with Mr. Sameer.
 He also co-founded Imagine Marketing India, which
became the parent of boAt in 2014.  
Net Worth of Mr. Aman Gupta

Aman Gupta’s Net Worth Rs 700 crores

 The first question that comes to our mind, is Why is an
electronic accessories company named boAt? So here the
company’s tagline is “Plug In to Nirvana”.
 Nirvana means attaining complete peace and freedom,
which the company aims to extend to the audiophiles of the
country and other users.
 “When you take a boat, you leave everything behind. You
plug into a new zone”-Says Aman Gupta.
 boAt started as a bootstrapped company in the initial years
with a funding of around 3 Lakhs from the founders and had
to struggle initially for raising funds.
 The company has faced numerous challenges day in and out
for manufacturing trendy products and penetrate in to the
market.
 There are competitors in the market which boAt had to face
to create an exceptional brand image for itself.
 There are several brands that manufacture music devices but
not everyone is cost effective.
 boAt Company stepped in here and completely
revolutionized the industry.
 The founders—Sameer Mehta and Aman Gupta wanted to
create a lifestyle brand that would deal with fashionable
audio concentrated electronics. The boAt company started
as a cable manufacturer and seller.
 Initially banks didn’t believe in the company and refused to
lend.
 Investors shied away from investing in Indian hardware
venture which was pitted against the Germans,
Japanese ,Americans and Chinese and a battery of local
players, consumers didn’t know what boAt was as there
were over 200 brands vying for attention.
 Apple chargers and cables were the very first products
launched by boAt.
 On Amazon, Apple chargers became the highest-selling
products because these chargers were comparatively
cheaper than the original ones, and the quality was also
much high.
 Unlike Apple’s original chargers and cables, which got
damaged quickly in a brief span, boAt chargers and cables
were super sturdy, long-lasting, and pocket friendly.
 Aman Gupta’s brilliant marketing strategies led boAt to its
new heights in a brief period, and it became one of the
country’s most profitable lifestyle electronic wearable
brands.
 The growth of the boAt company is mainly driven by its
distribution partnerships. Initially, the company was selling
its products and devices on Amazon, Flipkart, Myntra, and
Jabong.
 However, recently the company started its retailing at
several Croma outlets and on the official website.
 The good performance of the products has helped boAt in
achieving the desired growth.
 Vineeta Singh’s CO-FOUNDER OF SUGAR
COSMETICS
Vineeta Singh’s rip-roaring, awe-inspiring success story is one of
persistence and resilience. She was only 23 when she declined a 1
Crore job offer from an investment bank, to start her entrepreneurial
journey. Now – 10 years, $85.5 million in funding and Rs.500 Crore
annualized revenue later – the SUGAR Cosmetics co-founder knows
everything one needs to build a brand. The Shark Tank India’s most
loved judge, Vineeta Singh’s heart-centered approach to leadership
along with her diverse talents and consistent efforts has been
significant to her success.
To be successful, you really need to be irrationally passionate!” she
says. 

Even while chasing terrifying goals, Vineeta Singh is motivated to

create a successful empire doing what she is passionate about -
building the best company for women to work at. Inspired by her
father, who took a challenge at the beginning of his career to beat a
Nobel Laureate, and then actually accomplishing it 50 years later,
Vineeta Singh never backed down from a challenge. Her story of
ushering in the new age of businesswomen is perfused with hard
work, determination and ethics.

How Vineeta Singh Decided To Become An Entrepreneur?

In a conversation with a professor about her career choices at 17, he

mentioned that she should become an entrepreneur. Commencing on
his advice, she immediately prepared herself to jump on that
bandwagon of actually becoming one. After graduating from IIT
Madras and IIM Ahmedabad, Vineeta set sail with the idea ‘You can
be an entrepreneur only by actually being one!’ And we couldn’t agree
more! Her career adventures and undertaking have demonstrated that
 she can accomplish anything; making her one of the most powerful
and endearing women entrepreneurs in the industry.
In 2012, it was Vineeta Singh and Kaushik Mukherjee’s (Cofounder,
SUGAR Cosmetics) intuition that the beauty industry serving women
will explode as young women were stepping out from the patriarchal
molds and carving their own paths. That is when the idea of Fab Bag -
a subscription-based customizable beauty kit, was born - this was the
beginning, ascent of an inspiring young woman entrepreneur.

“Once, an investor refused to meet me. He wanted to talk business

with a ‘man’. But I let my work do the talking.” she says.

It’s hard to imagine now, but when Vineeta was pitching her
entrepreneurial business in the early 2010s, people and investors were
skeptical. But with her unbreakable spirit and belief in herself, she
gathered early funds, traveled to Hong Kong herself to source the first
batch of products to be delivered on time. It did not scare her even
when her plans were questioned, and we witnessed the birth of a
remarkably successful business. Vineeta continually developed the
company’s strategy throughout the years and was instrumental in the
success of building a huge customer base.
I always felt strongly about building something with women as the
core customer, so when my first startup didn’t scale, I decided to
launch a beauty subscription company with my co-founder Kaushik,
in 2012. The 200,000 women who shared their detailed beauty
preferences with us were at the heart of our pivot to SUGAR
Cosmetics, which launched as a direct-to-consumer makeup brand in
2015.”, the SUGAR Cosmetics founder says.

In 2015, something that became clear to Vineeta during this

entrepreneurial journey was her innate ability to analyze and
understand what women wanted from the beauty industry. On the
basis of the feedback data from the FAB Bag consumers, she quickly
identified the need for transfer-proof and long-lasting makeup in
the beauty industry. She trusted her intuition and vision to create the
best company there is for women and still continues to do so.
In a recent interview, Vineeta shared a story of an investor meeting
while she was pregnant and how terrified she was to inform them
about such a lovely yet huge addition to their lives. But she found
bravery in her convictions, unleashed her inner power and marched
ahead with high heels, quirky shoes, glitter and glam.

With Rs.1 Crore personal loan from an early investor, Vineeta Singh
set about establishing her own range of crayon lipsticks which were
manufactured in Germany. This was the springboard that saw
SUGAR Cosmetics become the brand it is today. She wasn’t just
launching a brand, she was voicing the needs of many young women
in the country.

“More than providing skills and training programmes, what women

need is to see women succeeding and their success being celebrated
to inspire others.”

Living up to her words, SUGAR Cosmetics’ workforce accounts for

75% of women employees. With a dream to hire 10,000 women in her
company, Vineeta Singh has been a driving force for young women
everywhere - be it her in-house employees or Shark Tank India
pitchers.

In August 2022, SUGAR Cosmetics CEO took to twitter and

mentioned, “If you're leaving a corporate career to work at a startup,
remember that one of the most important ingredients you'll need to
succeed there is belief! Setbacks are inevitable and way too many
people interrupt compounding by not having enough belief."

She further added, “Belief is a rare trait because it often defies logic

and it can't be taught at schools or in online courses. It's those
moments when you decide to keep pushing through tough times that
end up determining how enriching your startup journey will be."
In 2019, Vineeta Singh saw another milestone in her entrepreneurial
journey - the launch of the first-ever exclusive brand outlet in
Kolkata. And well, as they say, the rest is history now.
 10 BENEFITS OF BUSINESS PLAN

The systematic business planning helps the business to derive its

advantages and get
benefits out of them. The Benefits of business planning include
  Business Planning helps the Company to formulate
objectives and goals clearly. The company formulates
objectives after discussing thoroughly with superiors,
colleagues and sub-ordinates. These objectives help the
company to achieve stability of business and maximize profits.
 Business planning helps to avoid piece-meal approach and to
have integrative approach.
 Business planning helps to view the organization in
total rather than department-wise.
  Business plan aims at the long-range plan rather than short-
range plan.
  Business plan integrates the company plan with the national
plans and priorities.
 Business plan takes into consideration the environmental
factors. Technological factors influence the business plan
significantly. Technology has been upgraded continuously. The
changes in technology are pivotal, resulting in high technology.
 Announcement of economic liberalizations, globalization and
privatization policies by the Government of India, in 1991,
changed the economic scenario of the country. The changing
scenario influences the economic environment. Added to this,
significant changes have taken place in social and political
environment.
 Liberalization, Privatization and Globalization not only brought
significant changes in the economy, but they have intensified
the competition. Globalization allowed many MNC’s to enter
and operate in India. This resulted in tough competition
between domestic and foreign companies.
 The liberalizations policy of the Government allowed for the
establishment of a number of companies. It resulted in severe
competition even within the domestic companies. Business plan
should take into consideration, the competition levels among
the companies.
 A good business plan helps an organization to be aware of the
changes in political trends and their impact in business at
national and international levels.
  Effective business plan helps the company to achieve its
objectives and goals.
 Effective business plan certainly contributes for the
achievement of high rate of profits and increases in earning
per share.
 Business plan helps to determine potential growth and profit.
 5 PRINCIPLES OF BUSINESS PLANNING
 DO ONLY WHAT YOU’LL USE:  Avoid waste. Go forward with small steps. Start with a
lean plan and grow it only as needed for business circumstances Don’t build a big formal business
plan unless you have a business plan event and need to show it to outsiders.

 BUSINESS PLANNING IS A CONTINUOUS PROCESS NOT JUST A PLAN: One

business plan is of very little use, but the lean business planning process is essential. Keep the plan
small and review and revise often.

 Good business planning ASSUME CONSTATNT CHNAGES: Lean business planning helps to

manage change. You don’t plan on long time frames and then stick to the plan regardless. Instead,
your business planning process helps to manage change

 Good business planning EMPOWER ACCOUNTABILITY: Good business planning establishes

specific responsibilities, dates, deadlines, activities, and performance metrics. The process
includes tracking and following up to manage.

 Understand that IT’S PLANNING NOT ACCOUNTING: Financial projections in business

planning are educated guesses, summarized and aggregated to optimize their use in decision
making, tracking, and managing. They are not statements, but projections. A projected profit-and-
loss table does look like the output of accounting, and that confuses people. It is never exact. It is
predicting the future. It is guessing.
 HOW TO EXCECUTE BUSINESS PAN
 IDENTIFYKEY RESOURCES
 GATHER INFORMATION: Before you can begin
developing a successful plan, you need to make sure you
have all the information necessary. Schedule a meeting
with clients, stakeholders or other team members to
determine the full scope of the project. Some questions
you might ask include

 What are the key deliverables for this project?

 Are there any key milestones we should be aware of?
 When does this project need to be completed by?
 What communication channels does your client prefer?
 What are the most important areas of the project we should
focus on?
 What is the budget for this project?
 What problem does this project aim to solve?
 IDENTIFY KEY RESOURCES:
 Once you have established what the scope of the project
is, consider what key resources you need to complete it.
These resources can vary from project to project, but often
include raw materials, equipment, software, staff and
vendors. You can create a list to help you keep track of
these resources or use a project management software
tool to help you stay organized. Use a search engine to
research different project management software tools and
choose the one that works best for you
 Once you have created your list of necessary resources,
you may begin to identify where you can source them
from. Consider including a backup option for each
resource to ensure you are well-prepared. By taking the
 time to analyze what resources your team needs to
complete this project, you can help keep the project on
schedule and increase the likelihood of its overall success
 DEVELOP SMART GOALS:
 The next step is to develop clear and actionable goals to
help your team complete the project. Using the SMART
goal method can help you determine which objectives are
the most important to the project's overall success. SMART
goals are objectives that are specific, measurable,
achievable, relevant and time-based. You can create
SMART goals by focusing on each one of these areas
 Specific: Use the information you gathered from your
client, stakeholders or team to create goals with specific
deadlines and key milestones. Use simple language to
clarify what objectives your team needs to achieve so they
can easily determine whether they are successful
 Measurable: Identify how you plan to measure the
project's progress and success. You might choose to
measure the number of sales your team generates, the
quantity of items they produce or the time it takes to
achieve important milestones. Make sure the metric you
choose can be easily tracked so you can determine the
overall success of the project
 Achievable: Ensure that the goals you set are realistic. Ask
yourself if you can achieve your goals with the resources,
team members and budget you have. If necessary,
consider making adjustments to set your team up for
success
 Relevant: Determine how important the goals you have
set are to the overall success of the project. This can help
 you prioritize your goals and provide your team with clear
guidelines.
 Time-based: Identify a clear timeline for when tasks need
to be completed by, when key milestones must be
achieved and when the project needs to be finished. This
can help you keep your team on track and monitor the
project's overall progress to ensure your team completes it
on time
 CREATE FRAME WORK: Once you have identified SMART
goals, consider how you can approach the project by
breaking these goals down into smaller tasks. Create a
framework that clearly identifies each step of the project
and when it needs to be completed by. Project managers
use frameworks to provide their team with guidelines,
establish fundamental procedures and ensure a common
language is used for communication across the entire
team
 Developing a project framework can also help you share
best practices with your team and help clients understand
the process. You can research different project
management organizational structures and choose the
one that works best for you.
 ASSIGN TASKS: The next step is to assign tasks to
different team members. By clearly defining what role
each member of your team can perform throughout the
project, you can increase efficiency and get a better idea of
what a realistic timeline is. Before you assign tasks,
consider which team members have availability in their
schedule and what their strengths are. Then pair them
with responsibilities that match their availability and skill
set to increase the overall quality of your finished project
 Once you have determined who is best suited for each
task, schedule a team meeting to discuss the project
details. Let each team member know what they are
responsible for and when they need to have their tasks
completed by. Then answer any questions your team has
to make sure they have all the information they need to
begin working on the project.
 ESTABLISH REGULAR COMMUNICATION: Determine
what method of communication your team may be using
and how frequently you expect status updates. Identifying
what channels of communication you plan to use can help
your team relay important information more effectively,
encourage collaboration and build trust between team
members. Some of the communication methods you may
consider using include

 Email
 Video calls
 Phone calls
 In-person meetings
 Discussion boards
 Collaboration apps
 Surveys
 Status reports
 Check in at least once each week to ensure the project is
running smoothly. You may also consider scheduling a
recurring communication checkpoint, such as a biweekly
meeting or a weekly status report. This can help you hold
your team accountable and ensure consistent
communication throughout the project.
 TRACK YOUR PROGRESS: Project managers are
responsible for tracking the progress of a project to ensure
each task is completed on time. Before your team begins
working on the project, determine what metrics you can
use to track their progress. Here are four types of key
performance indicators you can use to track the progress
of your project
 Timeliness: Establish deadlines for specific tasks, key
milestones and when the final project needs to be
completed. You may measure cycle time, planned hours
vs. hours spent or the number of adjustments made to the
schedule. This can help you determine whether the project
is on track and give you an estimated completion date.
 Budget: Determine what your goal budget for this project
is. You may also create goal budgets for different
departments or team members who are working on the
project. Consider measuring budget variance, the number
of budget iterations or the cost performance index. This
can help you determine if the project is projected to stay
within the allocated budget or if additional resources are
necessary.
 Quality: The way you measure quality may differ from one
project to the next. Identify what key elements the client or
end-user requires to help you determine how you can
 measure the quality of your project. You can measure the
number of errors, customer satisfaction rate or the net
promoter score. You may also designate people to test the
project at different stages. This feedback can help you
determine the overall quality of your project
 Effectiveness: Measuring the effectiveness of your project
and your team's performance can help you assess whether
you are spending your time and money appropriately. You
can measure the number of project milestones completed
on time, the number of change requests or the billable
utilization to help you determine how effective your
project is.
 EVALUATE PERFORMANCE: Once the project is complete,
conduct a full and final evaluation. This can help you
determine what parts of the project went well, where there
was room for improvement and how successful the project
was overall. Some key areas you can look at during your
final project evaluation are:

 Schedule
 Cost
 Quality
 Stakeholder or client satisfaction
 Performance to business case

Share your findings with your team and discuss what you
learned throughout this project. Be open to their feedback and
use your final project evaluation as a tool to improve your
ability to execute plans successfully in the future.
 CONCLUSION
A business plan conclusion is a summary of a business plan's
strengths designed to convince the reader of the company's success.
Because companies typically create business plans to get funding or
investors, the conclusion should focus on how the organization makes
money and why it is a good investment. Companies also make
business plans to monitor their progress or set new goals.
The conclusion in a business plan is located either at the end of the
document or at the end of the executive summary. The executive
summary is an overview at the beginning of the business plan that
tells the reader what they can expect to learn and convinces them to
keep reading. Some people confuse the executive summary with the
conclusion, but they differ in several important ways, including:

 The executive summary previews what the plan is going to be

about, while the conclusion reviews what the plan has discussed.
 An executive summary is a broad overview of the business plan,
while the conclusion is a concise summary of the information a
certain investor or individual needs to know.
 An executive summary is designed to encourage some to keep
reading, while the conclusion is designed to convince someone
to take action, such as investing money in the company.
 Unlike executive summaries, conclusions usually include a call
to action.
 Every new and existing company should have a business plan
with a brief and purposeful conclusion.
THANK YOU