BUSINESS PLAN
8.1 DEVELOP A BUSINESS
PLAN


8.1.1 The
Meaning of B.P



8.1.3 The
Characteristics
of a good B.P



8.1.2 The
Purpose ...
8.1.1 THE MEANING OF A
BUSINESS PLAN
business plan -is now very general
and flexible term, applicable to the
planned activ...
8.1.2 The Purpose and The
Importance of B.P


A good business plan is
essential for securing outside
funding.



Creatin...



Importance and Purpose of Finance
Section
Lenders may not even consider
working with you if you do not have a
thoroug...


Importance and Purpose of Marketing
Section



The business plan must include a market
analysis and marketing plan. Th...
8.1.3 The Characteristics of a
good B.P


A business plan should be detailed.
In listing your products and services
for e...


. It should include a market
research that identifies your
competitors, their share of the
market and the range of the
...


. It needs to have a list of everything
you need. Note that the word
everything here comprises of the
equipment, techno...


It also needs to be written in
formal format and style. You
have to remember that a
business plan is something that
you...


Finally, a business plan should
be error - free. This is important
because your business plan
defines who you are as a
...
8.1.4 Business Plan Format








All plans should include at least the
elements listed below, and perhaps
addition...


Leadership and management
profiles including professional
competencies



Professional Support



Risks and Threats a...









Table of contents.
Executive summary or your
business plan synopsis
Introduction
Purpose of preparing B.P...


marketing - believed by many to
mean the same as advertising or
sales promotion, marketing actually
means and covers ev...


sales - the transactions 
between the business and its 
customers whereby services 
and/or products are provided in 
re...
DONE 
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enterpreneurship Chapter 8

  1. 1. BUSINESS PLAN
  2. 2. 8.1 DEVELOP A BUSINESS PLAN  8.1.1 The Meaning of B.P  8.1.3 The Characteristics of a good B.P  8.1.2 The Purpose and The Importance of B.P  8.1.4 Business Plan Format
  3. 3. 8.1.1 THE MEANING OF A BUSINESS PLAN business plan -is now very general and flexible term, applicable to the planned activities and aims of any entity, individual group or organization where effort is being converted into results, for example: a small company; a large company; a corner shop; a local window-cleaning business; a regional business; a multi-million pound multi-national corporation.
  4. 4. 8.1.2 The Purpose and The Importance of B.P  A good business plan is essential for securing outside funding.  Creating a good business plan is often the first step in starting a new business.
  5. 5.   Importance and Purpose of Finance Section Lenders may not even consider working with you if you do not have a thorough business plan.  Importance and Purpose of Executive Overview  The introductory sections of your business plan should include a description of your products and services and an overview of your company goals
  6. 6.  Importance and Purpose of Marketing Section  The business plan must include a market analysis and marketing plan. This section is important to show you have researched local competition to determine a need in the area.  Legal Aspects The written business plan will help shape your ideas and goals as well as force you to complete research on insurance requirements, licensing requirements and state and federal regulation  http://www.myownbusiness.org/s2
  7. 7. 8.1.3 The Characteristics of a good B.P  A business plan should be detailed. In listing your products and services for example, you should not really stop by just enumerating them. You also should write down the descriptions and scope of your products and services, touch base on production and identify means on how you can market your "brain child" to your targeted niche.
  8. 8.  . It should include a market research that identifies your competitors, their share of the market and the range of the products they produce. By learning how they conduct their operations, you may learn tricks of the trade in the business you want to enter and you also get to have a basic on what you can do to excel.
  9. 9.  . It needs to have a list of everything you need. Note that the word everything here comprises of the equipment, technology, raw materials, financial and other resources that you may need when starting and running your business venture. Having all these listed will give you an idea on how much capital you need before you start and how much money should you make in a day to make your business survive.
  10. 10.  It also needs to be written in formal format and style. You have to remember that a business plan is something that you may have to present to your business partners, financial firms and banks. So if you can, refrain from using slang in any part of your plan.
  11. 11.  Finally, a business plan should be error - free. This is important because your business plan defines who you are as a business person. If it turned out sloppy, then that does not speak too highly of you. Article Source: http://EzineArticles.com/?expert=Ewen_Chia
  12. 12. 8.1.4 Business Plan Format       All plans should include at least the elements listed below, and perhaps additional sections depending on the type of industry. Executive Summary Company Background Products or Service Overview Unique Selling Proposition and competitive advantages The Marketplace Operations
  13. 13.  Leadership and management profiles including professional competencies  Professional Support  Risks and Threats assessment  Financial forecasts including key assumptions  Relevant appendices
  14. 14.         Table of contents. Executive summary or your business plan synopsis Introduction Purpose of preparing B.P Company background Background of owner Organization of the company Finally, marketing plan. http://espresso101.com/newsletter/388
  15. 15.  marketing - believed by many to mean the same as advertising or sales promotion, marketing actually means and covers everything.  Marketing is the process by which a business decides what it will sell, to whom, when and how, and then does it.  marketing plan - logically a plan which details what a business will sell, to whom, when and how, implicitly including the business/marketing strategy.
  16. 16.  sales - the transactions  between the business and its  customers whereby services  and/or products are provided in  return for payment.   sales plan - a plan describing,  quantifying and phased over  time, how the sales will be made  and to whom. 
  17. 17. DONE 

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