DEVELOPING A

BUSINESS PLAN
Business planning explained
What to do?

How to do it?

Planning is

What to expect
When to do it?
in the future?
The Principles of Planning
► Planning “must” be
realistic

► Planning “must” be based

on felt needs

► Planning “must” be flexible

► Planning “must” start with

simple projects
 Stages of Business Planning
► Unplanned stage

► Budgeting-system
stage

► Annual planning stage

► Strategic planning
stage
 The importance of a Business Plan
► Planning can eliminate business risks

► Planning can minimize costs of production

► Planning can detect the weaknesses of the

business operations
 Why do you go to Business???
► Personal Satisfaction

► Family involvement

► Independence & power

► Social activity

► Profit expectation