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18021e0056 Ed
18021e0056 Ed
KAKINADA
SCHOOL OF MANAGEMENT STUDIES
ENTREPRENEURSHIP DEVELOPMENT
Essential Requirement For Developing a Business Plan
Presented by :
N. M. Mounika
18021E0056
INTRODUCTION
A business plan is a well defined written document that portrays an
overall picture of a business proposal, attempts to business goals, the
methods on how these goals can be attained, and the time frame
within which these goals need to be achieved. It also describes the
nature of the business, background information on the organization,
the organization's financial projections, and the strategies .
Essential Requirements For Developing a Business Plan
Keep the business plan short:
Keep the the plan short without compromising the description of the venture and its
potential. Cover the key issues that will interest an investor and leave the secondary
details for a meeting with the investor.
Be focused:
It means that attention must be focused on one or two services or product lines and
markets because starting a new business does not have depth to pursue too many
opportunities.
Long term and short term goals:
Project the goals over a period of 35 years as the long term objectives. These could
include factors like marketing plans or new products for the future. The short term
period could be from a few months up to a year include getting license for business,
name of the business ,office space etc.
Make a proper mission statement:
Use mission statement to spell out the reason for getting into
chosen business . Perhaps one is starting new business because they has
expertise and believes one has new ideas that one can put into practise.
Be real and objective:
A business paln must be rigorously realistic and objective in making estimates and
discussing risks and also must assess their market situation and study their market
pontential and growth .
Information should be based on study:
The planner must estimate the potential sales carefully on the basis of the marketing
study and from these estimates determine the production facilty that the planner
need. The next point is the estimates must not be vague and unsubstantiated because
this will make the planner look like a shallow and fuzzy thinker.
References:
• ENTREPRENEURSHIP DEVELOPMENT
- K. RAMACHANDRAN
THANK YOU