It is great to have the sense of hearing about business. Each and every person of the world want becomes a successful businessman, it still have how to write a business plan.. To run successful business and achieve top position in market you have to prepare business idea with detailed study.
Building a plan it is not enough, to get ride on plan and execute prepared plan step by step it is more important to make a brand.
Business plan is a written description which gives a great sense of what to do and what not to do.
It indicates a blue print or final layout of business which is based on fact.
It is different than business proposal. Click to know differences between business plan and business proposal
Following are the key tips used to plan and build successful business;-
1] Executive Summary
2] Business Description
3] Market and Sales Strategy
4] Competitive analysis
5] Design and Develop Plan
6] Operation and Management
7] Finance / Investment Plan
1] Executive Summary:-
It follows the title page of business plan. It includes what need to take care and not to, how it is going to work and how much will get profit excluding investment and other necessary expenditure.
It gives brief overview of the whole business plan.
Following are the list of key points contains in business plan executive summary.
I] Description of business
II] Available and target market / Marketing strategy
III] Growth potential
IV] Sales and profit forecast
V] Financial requirement and sources of funding and repayment strategy
VI] List of critical issues
VII] Assistance required for launching
2] Business Description:-
Business description gives short description about wanted business. It should demonstrate clear understanding of business you would like to be in. Also explore overview of business idea (offered qualities, services and innovations).
3] Market and Sales Strategy:-
This is most important step of any business. Most of the entrepreneur fails to describe exactly how customer will reached and product will be presented with quality, quality services, affordable cost and hygiene.
Define and establish well researched and effective methods of contacting customer.
Identify promotional activities / media, special offers, free coupons etc. meanwhile the activities schedule to convince customer to visit and buy.
4] Competitive analysis:-
To compete successfully with competitors, we should know deep details of competitors what and how they are working.
Identify strength and weakness of competitors. Overcome all the weaknesses of competitors and opt new policies and strategies in your business to achieve success and to create brand name.
5] Design and Develop Plan:-
Provide investors with a description of the product’s design, chart its development within the context of production, marketing and the company itself, and create a development budget that will facilitate the business to reach its goals.
6] Operation and Management:-
It describes just how the business functions on a continuing basis and functions are managed.
7] Finance / Investment Plan:-
It includes how you’ll finance your business, costing and financial projections to set up business and become successful entrepreneur.
Calculate the break-even point of your business and how soon you can reach it