Business Plan

Business Plan

Concept of Business Plan

• A business plan is a proposed or intended course of action. It is a document about the future of business. It integrates functional plans such as production, finance, human resource and marketing.
• It demonstrates the feasibility of the prospective business. It is a written document or roadmap of business operation.
• An effective business plan convinces the readers that the new business is exciting and need support.
• It should clearly demonstrates the cost and benefit analysis.
• It should answer 5Ws and 1 H regarding your business in advance.
• What type of business you are going to start ?
• How you are going to start ?
• When you are going to start ?
• Where you are going to start ? And so on.

Definition of Business Plan

• “The term business plan means the development of a written document that spells out like a roadmap where you are , where you want to be ,
• and how you want to get there.”
• Kaplan

What is a Business Plan?

• A Business Plan is a written document that defines the goals of your business and describes how you will attain those goals.
• A Business Plan is worth your considerable investment of time, effort, and energy.
• A Business Plan sets objectives, defines budgets, engages partners, and anticipates problems before they occur.

• Building a Business Plan

To attract investors.

• To attract investors.
• To see if your business ideas will work.
• To outline each area of the business.
• To set up milestones.
• To learn about the market.
• To secure additional funding or loans.
• To determine your financial needs.
• To attract top-level people.
• To monitor your business.
• To devise contingency plans.

• Building a Business Plan