Business plan us a main component of a business plan. Without a perfect business plan,A business can not grow for long term.He i described all about a business plan.Hopefully this will help you a lot. If you need any more information, don't hesitate to knock me.
2. Why do you need Business Plan
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To Grow your current business
Back up a business loan submission
Seek investment for a business
Make a new business
Assessment of the business for planning and tax matters
To sell your company
3. Why do you need Business Plan
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Deal with professionals consultants
Grow new business alliances
Share and explain business objectives with your management team
Decide whether you need new assets, how many, and whether to
buy or lease them
Appoint new persons
Share your plan, priorities and exact action points with your partner
Set specific purposes for managers
4. Key Success Factors of Your Business
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Sell each unit at a profit margin
Continue to reduce product/ administration costs.
Develop new products with high quality of existing products.
Find and retain customers.
Create and maintain customer satisfaction at the highest level.
5. Key Success Factors of Your Business
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2,877 people completed the survey. 995 had submitted a
plan.
297 of them (36%) secured a loan from bank
280 of them (36%) secured investment capital from finance or bank company
499 of them (64%) had grown their business successfully
1,556 of the 2,877 had not yet submitted their plan.
222 of them (18%) secured a loan
219 of them (18%) secured investment capital
501 of them (43%) had grown their business
9. Why Business Plan fail?
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Bad business ideas
Employee compensation is not compatible
No exit strategy for Sacking lazy co-founders
The team is not well-balanced
Detailed financial projections are not completed
False assumptions for the projections
Failure to improve business plan year after year
Not having the right people involved
10. Why Business Plan fail?
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Unachievable Goals and Aspirations
Lack of Market Research and analysis
Productivity and Motivation Issues problem
Improper Budgeting
Ignoring the market competition
Ignoring financial risk, operational risk etc
Profit or turnover
Leadership Problem
11. How to avoid Business Plan failure?
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Leaders should know the ins and
outs of the plan
Money matters, Invest strategically
Plan for the future
Stay motivated and know your brand
Be competitive
Focus on your principles
12. Thank You
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Business Plan & Financial Plan