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The 9 esssential parts of business planning
 

The 9 esssential parts of business planning

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Strategically analyze your business. Find out what your strengths, weaknesses, opportunities and threats are. Increase your strengths, minimize your weaknesses, exploit your opportunities and avoid ...

Strategically analyze your business. Find out what your strengths, weaknesses, opportunities and threats are. Increase your strengths, minimize your weaknesses, exploit your opportunities and avoid the threats. Check out: http://www.business-plan.co.za

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    The 9 esssential parts of business planning The 9 esssential parts of business planning Document Transcript

    • The 9 Essential Parts of a Solid Business Plan Business PlanThe 9 Essential Parts of a Solid Business
    • The 9 Essential Parts of a Solid Business Plan Business PlanStrategically analyze your business. Find out what your strengths,weaknesses, opportunities and threats are. Increase your strengths,minimize your weaknesses, exploit your opportunities and avoid thethreats. Click hereIn this article I will discuss 9 essential parts of a companys businessplan. Understanding and implementing each of these points and howthey affect the business plan will be crucial to the success of thebusiness. They are listed in a possible order they might appear in astrong business plan. Following the outline below will allow for astrong business plan that will ensure the company has a greaterchance of success and this preparation will have a business plan readyto present to investors.1) Company values and mission statement - This will clarify why youare going into business and what you hope to accomplish. This can belooked at as the foundation of the business.2) Research for the business - Identifying your target market as wellas your competition is one of the most important factors as towhether your business plan will be effective. The more clearly you candefine these items, the more successful your business will be.
    • The 9 Essential Parts of a Solid Business Plan Business Plan3) Financial Plan - What upfront costs will be involved with startingthe business? What ongoing costs will there be? How will the businessbe funded?4) Marketing Plan - Using the research from number two, it should bedefined how the target market will be best reached. A marketingbudget should be discussed as well as the plan for online advertising,offline advertising, and image advertising. Define the companys brandhere.5) Revenue and Profitability Targets - This is the most importantsection for investors. You must have a logical conclusion as to whyyou arrived at the numbers you propose. Be optimistic in youroutlook, yet be realistic in the potential of your business.6) SWOT Analysis - This acronym stands for Strengths - Weaknesses -Opportunities - Threats. By reviewing this you can emphasize whereyour business may excel, where help may be needed, whatopportunities for entry or growth exist in the marketplace, and whatcould potential be an obstacle for your business.
    • The 9 Essential Parts of a Solid Business Plan Business Plan7) Staffing/Outsourcing - Explain what hiring will need to be done tomeet the companys needs, where your core competencies lack todefine what you will outsource, and what potential growth in staffingwill be needed over time.8) Plan for Growth - How will the company handle the growth asbusiness begins to increase?9) Plan for Uncertainty - What will happen if things go wrong in thebusiness? Is there an exit strategy? How will you prevent investorsfrom losing their money?The more you clearly define when starting your business, the morelikely you will be to achieve your goals faster and with fewer lossesand mistakes along the way.Strategically analyze your business. Find out what your strengths,weaknesses, opportunities and threats are. Increase your strengths,minimize your weaknesses, exploit your opportunities and avoid thethreats. Click here
    • The 9 Essential Parts of a Solid Business Plan Business PlanAre you interested in getting more information about starting your business? Click thislink to get the free report "7 Steps to Creating Your Own Profitable Business" -[http://thebearformula.com/take-action-now.html]Article Source:http://EzineArticles.com/?expert=Brad_Lauritzen