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Methods and

Pr ocedures to star t
one’s own Business
Made By:
Sonia Soni
Introduction
 Planning is the first & Crucial step for
starting a Business
 A Business Plan is a Road Map for
starting And Running a Business
 A well Crafted Business Plan Leads to
The Success of The plan
 It provides information i.e. Marketing,
Finance, Operations & HR
Business Plan

 Business Plan is the Blueprint of the


step by step procedure that could
be followed to convert a business
idea into a successful Business
Venture
Objectives of a
business plan
 To visualize the concept
 To guide the Entrepreneur
 To give directions to the vision formulated by
entrepreneur
 To objectively evaluate the prospectus of the
business
 To Monitor the progress after implementing the
plan
 To persuade others to Join the business
 To seek Loans from Financial Institutions
Objectives of a
business plan
 To visualize the concept
 To guide the Entrepreneur
 SWOT Analysis of the Plan
 To clarify ideas and identify gaps in Mgt.
information about their business ,competitors &
the market
 To identify resources
 To document ownership arrangements, future
prospects & projected growths of the business
venture
Business Planning
Process
 Preliminary Investigation
 Idea Generation
 Environmental Scanning
 Feasibility Analysis
 Project Report Preparation
 Evaluation, control & Review
Preliminary
Investigation
 Review available business plans
 Draw key assumptions
 Scan the internal & external Envt. To
assess the Swot
 Seek Professional advice from a friend /
Relative or a Person Who is already into
similar business
Idea Generation

 First stage of business planning process


 Involves generation of new concepts,
ideas, Products or services to satisfy the
Existing, latent & future demands of the
market.
Sources of new ideas

 Consumers /Customers
 Existing Companies
 R&D
 Employees
 Dealers, retailers
Methods of Generating
new ideas
 Brain Storming
 GD
 Data Collection
 Invitation of ideas
 Market research
 Contests on TV i.e. business bazigar on
Star TV.
Environmental
Scanning

Scan the Environment

External Internal
Environment Environment
External
Environment
 Socio-Cultural Appraisal
 Technological Appraisal
 Economic Appraisal
 Demographic Appraisal
 Govt. Appraisal
Internal
Environment

 Raw material
 Production/operation
 Finance
 Market
 HR
Feasibility Analysis

 It is done to find whether the proposed


project would be feasible or not
The various
dimensions are
 Market Analysis
 Technical Analysis
 Financial Feasibility
 Drawing functional Plan
 Marketing Plan
 Production/operation Plan
 Organizational Plan
 Financial Plan
Project Report
Preparation
 Written Document that describes Step by
Step the Strategies involved in starting
and running a business
Preparing a Project
Report
 Cover sheet
 Table of contents
 Executive Summary
 The Business
 Funding Requirement
 The Product or services
 The Plan
The Plan

Marketing Plan
Production/operation Plan
Organizational Plan
Financial Plan
Preparing a Project
Report
 Critical risks
 Exit Strategy
 Appendix
Evaluation, control &
Review
 Because the competition in Today's
World is intense & technological changes
are taking place at much faster rate
 It is important so as to keep up with a
dynamic & changing Market