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6. entr lesson 12
- 1. THINGS TO REMEMBER IN WRITING A BUSINESS PLAN Entrepreneurship – Lesson 12
- 2. Topics to be Discussed………….. Make Strategic Plans Make Operational Plans Make Financial Plans Implement the Plan
- 3. Make Strategic Plans Make strategic plans (For franchised businesses this is prepared by franchiser) Setting your Vision/Mission Statements Establishing Goals and Objectives Identifying Strategies
- 4. Make Operational Plans Make operational plans (For franchised businesses this is prepared by franchiser) First Part Setting up Policies, Methods, Procedures and Budget Second Part Choosing your location Planning operation and physical facilities Developing sources of supply for goods and materials Planning your human resource requirements Setting up the legal and organizational structure Determining your approach to the market Establishing an efficient records system Setting up a time schedule
- 5. Make Financial Plans Financial Planning involves determining what funds are needed where they can be obtained, and how they can be controlled. Important aspects of the financial plan Estimating income and expenses Estimating initial investment required Locating sources of funds
- 6. Implement the Plan Start the Business……………
- 7. Review………….. Make Strategic Plans Make Operational Plans Make Financial Plans Implement the Plan