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You need to make the contents of your plan match your purpose. Unfortunately, many people think of business plans only for starting a new business or applying for business loans. But they are also vital for running a business, whether or not the business needs new loans or new investments.
These are all business plans. In all these different varieties of business plan, the plan matches your specific situation.
For example, description of the management team is very important for investors while financial history is most important for banks. However, if you're developing a plan for internal use only, you may not need to include all the background details that you already know.
Is it easy to understand and to act on? Does it communicate its contents easily and practically? Are its objectives concrete and measurable? Does it include specific actions and activities, each with specific dates of completion, specific persons responsible Are the sales goals, expense budgets, and milestone dates realistic? Nothing stifles implementation like unrealistic goals. Does it include all the necessary elements? Requirements of a business plan vary, depending on the context. There is no guarantee, however, that the plan will work if it doesn't cover the main bases
IP INNO FOREST, 4 September 2007, Sopron Carmen Nastase Enterprise level tools for innovations, business plan
Entrepreneurship can be defined as the process of using private initiative to transform a business concept into a new venture or to grow and diversify an existing venture or enterprise with high growth potential.
Entrepreneurs identify an innovation to seize an opportunity, mobilize money and management skills, and take calculated risks to open markets for new products, processes and services.
Innovation idea Sources for innovative idea Analyze market, customers and environment; Analyze your existing business Check your idea; Check yourself Evaluation level Implementation Results
A normal business plan, includes a standard set of element . Plan formats and outlines vary, but generally a plan will include components such as descriptions of the company, product or service, market, forecasts, management team, and financial analysis.
Your plan will depend on your specific situation.
Executive summary Business description: products and services offered Market strategies Competitive analysis and positioning Operations and management plan Outline of a business plan Financial components - condensed information on each of the chapters bellow
type of business ;
products and services offered;
ownership of the business and its legal structure;
market and target market;
demand for the product or service;
dissemination and delivery;
- pricing strategy.
- identification of competitive strenght position.
Don't use a business plan to show how much you know about your business.
Nobody reads a long-winded business plan: not bankers, bosses, nor venture capitalists. Years ago, people were favorably impressed by long plans. Today, nobody is interested in a business plan more than 50 pages long.
A 20-page plan with dense text and no graphics is much longer than a 35-page plan broken up into readable bullet points, useful illustrations of locations or products, and business charts to illustrate important projections.
A good business plan should leave a reader a good general idea of its main contents even after only a quick skimming, browsing the main points, in 15 minutes.
Format, headings, white space, and illustrations make a big difference. Summaries are very important. Main points should show up in a business plan as quickly as they do in a business presentation.
The right length of the plan depends on the nature and purpose of the plan
Will it include descriptions of the company and management team for outsiders to read;
Does it need an executive summary good enough to stand alone;
Does it include detailed research, plans, drawings, and blueprints;
Is it worded to withstand legal scrutiny as part of an investment proposal.
When a business plan is being worked out, there are too many big questions, the answers of which only the entrepreneur can know, that are far too important to be left to someone else who claims that he can spare the entrepreneur the trouble of preparing his own business plan - no one can do it better than you!