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    Thread: Who knows the most detailed way of writing a business plan?

    1. #11
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      a business plan is the foundation of a business and so is therefore of great importance that a business person knows how best to write a business plan. the business plan is a guide on each stage of starting and managing of a business. so you use the business plan as a road-map for how to structure, run and grow your new business.
      find below the stages and areas to be covered.
      1. executive summary: you start by telling your readers what your company is and the reasons you believe it will be successful. you include your mission statement, your product or service and a desciption of the leadership team and the key employees. it will be best to include financial information and high-level growth plans.
      2. description of the company: you use this to provide a detailed information about the company. list the problems your product or services would help solve. make a list of the consumers or businesses your company plans to serve.
      3. market analysis: making a research on the target market. know what the other companies in that field are doing and what their strengths and weaknesses are. show reasons you are able to do better.
      4. organisation and management: you need to let your readers know how the company would be structured and who will run it. show through an organisational chart who is in charge of what in your company. show how those people uniquely contribute to the success of the business. you might include the curriculum vitae of some key members of your team.
      5. product or service: here you describe your product or service and how it would benefit the customers.
      6. marketing and sales: describe how you will attract customers and maintain their patronage.
      7. funding: if you are requesting funds, now you outline your funding requirements. you explain clearly how much funding you need for 5 years and how it will be utilised.
      7. financial projections: here you try to convince readers that your business will be a financial success. if already an established business, include income statements, balance sheet and cash flow statements for the past 3 years. you will do best to include charts and graphs to show the financial story of your company.
      8. appendix: this section treats other supporting documents like credit histories, letters of reference, pictures of products, legal documents, etc.
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    2. #12
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      A business plan or business plan can be used as a blueprint for business. Which company will be created has what purpose (vision)? How do you achieve that goal? Who are the team members involved? When can a business begin to fulfill its objectives?

      Here are 8 reasons, you need to make a business plan or business plan:
      • Business clarity to be done.
      • Get to know the structure and strategy of the company.
      • Get detailed explanations about the market.
      • Know how to market a business.
      • Explore ideas or initial thoughts.
      • Test business calculations.
      • Sharpen the operational system.
      • Get to know competitors

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    4. #13
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      A business plan is essential to your companyís success. After all, seven out of ten businesses fail within five years. We know youíre starting a new business or moving to expand and want to stay focused on the positive and the last thing you want to talk about is failure.

      But for 70 percent of business companies, failure is the reality, and the primary cause is a lack of planning.Whether it is insufficient market research,financial planning,management,lack of social media presence,website or something else,these mistakes all boil down to a lack of planning that can be traced back to the roots of your company:the business plan.

      What is a business plan?
      Before we detail how to write a business plan, we should figure out what a business plan is. Then, we can cover the basics of how to write a business plan.

      A business plan in any company is a document with every crucial detail. It covers the following information: what you are going to sell or produce, the structure of your business, your vision on how to sell the product, how much funding you need, information on financial projections, among other details.

      Before you begin to implement your companyís business plan, itís necessary to brainstorm to make sure your team is prepared to answer some questions:

      Why are we starting/ready to expand the business?
      What makes our company different? How can we differentiate ourselves?
      What solution are we providing? How do we offer it?
      Who are we? Be ready to introduce your management team, any key players, and advisors.
      Who are your customers? Target business?
      What needs to happen to break even?
      How can we make a profit? In one year? In five years?
      However, there are dozens of other questions, industry-specific or otherwise, you should be asking. When first getting started, pay attention to those questions. Your business plan must address them in a clear, concise, strategic, and realistic way.

      See also: What is a business proposal?

      Why is a business plan necessary?
      The critical perception of a business plan of any company is to show you that your business is worth starting and the idea is worth pursuing. It provides you with the possibilities to get a detailed look at your goals. In case there is something to change and improve, itís high time to do it before the business plan of your company becomes implemented.

      A business plan is integral in selling your company to potential investors and bankers. But as important, the process of writing involves you and your partners taking a real look at what you want the future of your company to look like and how youíre going to make it happen.

      Who is responsible for writing a business plan?
      An individual or a group of individuals who start a business are responsible for writing a plan. In most scenarios, it is up to the founders of the company.

      Itís important to remember that this is not a document for internal use only. On the contrary, itís a promotional document that will undergo constant updates and changes. Keep in mind whom you write it for (investors, customers, etc.) and do it in an easy-to-read language without challenging to understand words and terms.

      When should you write a business plan?
      It is evident that a business plan of your company should be documented before your business starts. Though this step is the first one, this is only one of those many steps to create and run a business. Even if you have prepared the best plan ever, it is worth nothing if you fail to implement it successfully.

      Piece by piece
      A business plan can be rather long ó make sure itís not too long. You want to make sure you include every vital piece of information, so organization is crucial. With that in mind, we are going to break down each component. There is no hard-fast rule for private business plans.

      However, remember to follow whatever example a bank or loan agency gives you down to the letter. For a regular plan, as long as you address all the key points, there can be room for some creativity. We are sharing with you the most common headlines and sections found in well-received plans.

      Step 1. Executive summary
      The summary is where you (succinctly) introduce your vision. Try to make sure your exec summary answers these questions:

      What sector are you in?
      What products/services do you provide?
      Who is your target audience?
      What does the future of your industry look like?
      How is your company scaleable?
      What are the next steps?
      Who are the owners of your company? Backgrounds? Experience in sector/business?
      What motivated you to start your company? Why now?
      Use our genius, free executive summary template to dive deeper into how to craft an excellent summary.

      See also: How to write an executive summary

      Step 2. Mission statement
      Yes, this part is important to you and your team.However, this isnít quite as important to your audience as you think it is.

      Follow the KISS rule: Keep It Simple,Stupid.

      Your mission statement should include your goal and the objectives that will lead you toward it; your industry,how you see it evolving in the short and long term,and who your customers are. Your mission statement also says who you are, and talks about the strengths of you and your team.This is where you,in part (and in brief),sell the features and benefits of your company.

      Step 3.Products and/or services
      This part includes information on what you do and what you plan to sell it for. This is also where you sell the benefits of your business.

      This being a business plan and all, itís important to list the cost of the products/services you are providing:

      How much does it cost to produce? Versus How much will you sell each piece for?
      Is there packaging?
      How will the client purchase the product?
      What system will you use to bill them?
      Are there extra costs in getting it to the customer? How will it be transported?
      The products/services section should also differentiate your new business:

      What makes your business different?
      What gives your companyís product or service an edge in the marketplace?
      What distinguishes it from competitors?
      If you are selling a product, sell the general idea and its benefits in this section, but donít get too technical.Leave any diagrams or intricate designs for the addendum,while inserting the phrase: ďFor more detail,visit the addendum Page #.Ē

      Step 4.Marketing plan
      Now that youíve proven what you want to do and how you will make it happen, next you will need to detail how youíre going to spread the word. This is where you prove you know what youíre talking about and that your company is ready to provide a service to a proven audience.

      Your marketing plan should be the result of a blend of first- and (reputable) second-hand research into your marketplace.Break it down into sections,grouping by market topic.We suggest these seven:

      Your customers:Are you B2B or B2C? Who are your customers? How do you plan to reach them? Where will you sell your product/service? How will you garner feedback from them? How will they know you care?
      Your competition:Who are your direct/indirect competitors? Whatís your advantage? Donít be shy ó tell them you are better and why.
      Your niche: Or market or sector. Again, what separates your business from your competitors ó how will you make yourself known in the niche?
      Your distribution: Of course, this is a marketing plan, so theyíll want to know your tricks for promoting within the said niche.How are you selling it ó directly to clients,to a vendor,online,at a store,an office,freelance, etc.
      Your advertising: Are you advertising already? Where? When you have more funding, where do you advertise?How will you use advertising to retain customers? Get new ones? Make sure you outline your marketing budget either here or within the financial plan. How much will be spent on print, TV/radio,Internet,direct mail,external ads,etc?
      Your sales strategyepending on the industry, this could be one of the most important parts ó how are you going to sell your product/service? Online? A sales team? Telesales? How will you incentivize sales? Will you offer a free sample or trial? Host a free workshop?
      Your face:Youíve described how you will market, what,to whom, on where. Now itís time to explain the image youíre going to project.This can include your slogan,images,logos,website, social media channels, etc.
      Step 5. Operational plan
      This part takes a reader through the day-to-day of your company,explaining the:
      Location/Logistics of your business
      Transportation (if youíre selling a product)
      Legal ó Do you need a permit? License?Do you need to join a union or other professional organization?
      Inventory ó if youíre selling a product, where will you need to store it?
      Providers/Suppliers/Freelancers ó Detailed contact info/pricing for anyone youíre outsourcing to.
      This is a lot of solid, concrete info, but donít be afraid to add a short lyrical introduction, painting a more visual picture of how your company will work, briefly walking them through your day-to-day operations.You can even include a photo or video showing it.

      Writing a business plan isnít just about including all important information. Itís also about capturing the attention of a reader and convincing him or her that you are a solid team. Show them why you make a good team,and then add some candid shots of your company team happily working together.

      Step 6.Management organization
      This part includes a hierarchical chart of your company and how the operations we talked about above flow through it.List the positions and briefly describe the functions of each integral member of your business,including but not limited to: board of directors, advisors, technical specialists, accomplished salespeople,accountants, and lawyers.

      Then describe any steps for your staff to expand.Also, reflecting it in your financial plan, discuss any new hires you want to make and why. Your business plan isnít just about where your company is,but where itís future is headed.

      Step 7.Fiscal planning
      The fiscal piece of your business plan puzzle is the piece investors and loan managers are going to spend the most time looking at.Without proper capitalization and financial planning,even the most excellent business idea that fulfills an urgent need is at high risk for failing.

      We offer you a free and open business plan template,which includes a step-by-step,annotated guide and spreadsheet templates for each of the following charts.What must this most-looked-at part of your business plan include?

      Cash-flow analysis:This reflects what you are going to sell versus your business expenses. This analysis projects your profit margin.

      Profits & Losses analysis: Done in conjunction with the cash-flow, this looks ahead at least a year and includes revenue predictions,including graphical representations of those numbers.

      Break-even analysis:This breaks down how much you have to, well, break even.

      Seriously,this is the part they are going to spend the most time looking at,make sure itís thorough and realistic.

      Step 8. Addendum
      As you can probably guess,this is where you talk about the rest,the boring,the things that you probably wonít need to include.But the addendum shows you did your research.Also, this is where you add any technical diagrams of your business plan. The addendum is also a great place to put references and press about your company,as well as resumes/CVs,adding proof of your awesomeness.

      The business plan project managerís job is to organize things most pervasively.Anything thatís not essential and is interrupting the flow of information should be added to the addendum.

    5. #14
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      The work plan is an important basis for success in any business and doing your work randomly will make you fail or at least will not do it completely and there will be deficiencies in the results
      But the work plan needs an expert to do it where the expert has sufficient knowledge about the field of work and the objective and the right steps to reach this goal, which is formulated in the form of a work plan
      for example, working in Forex. You will find that many traders who do not have a trading plan define the trading strategy on which the trades will enter and determine the capital management plan and the risk ratio. If this plan does not exist and the work is random, it will reach to loss, not the profit.
      Therefore we always advise each beginner to start first with good education and training in order to have the knowledge and skill necessary to build a trading plan commensurate with his capabilities and objectives in trading

    6. #15
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      For every scholars and anyone that want too have a very successful business, a business plan is always very important. As adage says, a person that fails to plan, plan to fail, a business plan will be like a guidance to a business person.
      A very good business plan guides us through each stage of starting and managing our business.

      Business plans can help us get funding or bring on new business partners. Investors want to feel confident theyíll see a return on their investment, this is why it's important to have a good business plan.

      Important thing to notice when writing a business plan.

      Executive summary
      Company description
      Market analysis
      Organization and management

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    8. #16
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      The process of writing a business plan can be time consuming as it requires a lot of research and strategic planning. But notwithstanding, it is a very vital part of any business, and it stands as the foundation in which any business that hopes to to succeed must stand on.

      Now, to write a great business plan, the individual needs to nail the problems he or she is solving, who they are going to solve the problems for, and how they are going to do it?

      Answers to these questions can be used as a guide to make a good business plan:
      1. What problem are you solving?

      2. For whom will you be solving this problem?

      3. How big is the market addressed by this solution?

      4. Why is your solution going to be better than the solutions proposed by (or already marketed by) your current and future competitors?

      5.What is your business model and how will you make money?

      6. What can your team execute on this solution?

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