The document discusses the importance of developing a business plan that addresses key questions like what the business will do, how it will operate, when activities will take place, and what results to expect. It emphasizes that planning can eliminate risks, minimize costs, and detect weaknesses by providing clarity. The document outlines various stages of planning as a business grows from unplanned to strategic. It provides criteria for an effective plan and components to include like objectives, strategies, timelines, and SWOT analysis. Steps in planning involve evaluating resources, analyzing the market, choosing a location, and preparing financial, production, organizational, and management plans.

1. Developing A
business plan

2. The four questions of the business plan
• What to do?
• How to do it?
• When to do it?
• WHAT TO expect?

3. The Importance Of Business Planning

4. Planning Can Eliminate
Business Risks.

5. Planning reduces risks by giving
the entrepreneur clarity on
many areas of the business,
enabling him/her to make
accurate decisions.

6. Planning Can Minimize Costs
Of production.

7. Building a business takes up a
lot of resources, but planning
effectively cuts down on the
unnecessary spending by giving
the entrepreneur clear details
on where he/she should invest.

8. Planning Can Detect The
Weaknesses Of The Business’
Operations.

9. Planning helps the entrepreneur
find the weak joints in his/her
business by revealing certain
areas that could be improved.

10. The principles of Business Planning

11. Planning must be realistic.

12. Plans must be done with the
current available resources in
mind - whether they be
human, financial or physical
resources.

13. Planning must be based on
felt needs.

14. Plans must be made to
meet the needs of the
community.

15. Planning must be flexible.

16. Business plans should be flexible
enough to be adjusted when
the situation demands it.

17. Planning must start with
simple projects.

18. Starting small gives the
entrepreneur the advantage of
being able to test the waters
to see how prof-itable they
could be.

19. The Stages Of Business Planning

20. The Unplanned Stage

21. During the early stages of the
business growth, the
entrepreneur pours his time
and attention to the daily
operations of his/her company
or business.

22. The Budgeting-System Stage

23. Once business popularity and
presence starts to rise, the
entrepreneur begins to realize
that he/she will need a
budgeting system in order to
keep expenses and profits in
place.

24. The Annual Planning Stage

25. At this point, the company has
already established a name for
itself in the community, so the
entrepreneur begins to draft
annual plans to maintain the
operations of the company.

26. The Strategic Planning Stage

27. Once the company reaches the
enterprise point, the
entrepreneur begins to draft
long-term plans that could be
adjusted to whatever conditions
may come the company’s way.

28. Criteria Of Effective Planning

29. The plan should clearly state
its objectives.

30. The plan should provide
measures for a satisfactory
accomplishment of the
objectives in terms of quantity,
quality, time and cost.

31. The plan should state the
policies which should guide
people in attaining the
objectives.

32. The plan should indicate what
department or unit will be
involved in accomplishing the
objectives.

33. The plan should indicate the
time which should be allowed
for each activity.

34. The plan should specify the
required resources and their
corresponding costs.

35. The plan should designate the
officers who will be held
accountable for the
accomplishment of the
objectives.

36. The Components Of Business Planning

37. SWOT Analyses
SWOT analyses are used to
evaluate the survivability of a
product or service in the market.

38. Objectives
Objectives give a clear definition as
to what a business plan is about,
and what the company should be.

39. Strategies
Strategies provide the methods on
how to attain the set objectives.

40. Time Frame
Each business plan has its own
time frame that has to be
met in order to say that the
plan was successfully
implemented.

41. Characteristics Of A Sound Business
Plan

42. Objective Clear
Logical Simple
Flexible Stable
Complete Integrated

43. Obtaining The Facts For a Business
Plan
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44. 1. What is unique about my product/service?
2. Who are my competitors?
3. How will my customers buy?
4. What is my share in the market?
5. What is the market potential?
6. Who are my customers and where are they
located?
7. Where will I put up my business?
8. How big should be my plant or place of
business be?
9. What equipment will I need and what size?
10. How will I create customers?
11. How will I organize my enterprise?
12. What personnel do I need?
13. What kind of records do I need?
14. How much capital do I need?
15. How profitable will the business be?
16. How financially healthy will I be?
17. What is break-even point?

45. Steps In Business Planning

46. Evaluate Your Personal
Resources And Interests,
And The Resources Of The
Community.

47. Determine whether you have
the skills and resources to
successfully start and run the
business, as well as whether or
not you really want to enter
that field.

48. Analyze Your Market.

49. Check out how in-demand your
product or service is, and how
many competitors you will have
in that field of business.

50. Choose a Proper Business
Location.

51. Visit the place so you can see
whether or not it is easily
accessible not just to your
potential customers, but also
to your resources. Always be
conscious of things like water
and electricity supply, as well
as the cost of buying or
renting that place.

52. Prepare a Financial Plan.

53. Take some time to look at how
much money you will make and
how much it will cost you to
start and run the business.

54. Prepare a Production Plan.

55. See if it is better to purchase
or rent production equipment,
and make sure that you will
have enough of them to make
sure that you produce enough
products to satisfy the
demands of your target
market.

56. Prepare an Organizational
Plan.

57. Choose the best organizational
design for your business by
studying the aspects,
advantages and disad-vantages
of each one.

58. Prepare an Management
Plan.

59. Develop clear goals and
strategies to implement them.
Always keep your employees
informed of updates, and
develop programs to help them
improve.

60. Thank
You!