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How to Prepare a Business Plan

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Title: How to Prepare a Business Plan


1
How to Prepare a Business Plan
Business weSRCH
business.wesrch.com
2
Identify The Need Your Business Fulfills
1.Define the need (or Problem) that your
Satisfies 2.If yor aren't sure what your Business
purpose is, your need to rethink it before
launching! 3.What needs do your clients currently
have? Do you know all of them, or just some?
Are you a resource for the entire range of needs
that your clients have ?
Business weSRCH
business.wesrch.com
3
Clearly Describe How it Fulfills This Need
1.This is the Place for Mission
Statement. 2.List objective for the actions for
your business takes to address holes in the
market. 3.Change are other buainesses are
working to fulfill the same niche- But how does
your business do it better then they do.
Business weSRCH
business.wesrch.com
4
Recognize How Your Business in Unique
1.A unique selling proposition, which defines
your companys unique position in the
marketplace, is an often overlooked but very
important element of creating a business that
customers. 2.Outline a Business model that
details the advantages of your organisation, in
order to ascertain how your business will survive.
3..Scrutinze the strengths and Weaknesses of your
Competition, as well. 4.Distinguish Yourself
from the croud to boost your shot at investment
capital. 5.36 of surveyed business owners with
a business plan obtained investment
capital. 6.only 18 of those without business
plans secured it.
Business weSRCH
business.wesrch.com
5
Name of Your StakeHolders
A stakeholder is anybody who can affect or is
affected by an organisation, strategy or project.
They can be internal or external and they can be
at senior or junior levels. Some definitions
suggest that stakeholders are those who have the
power to impact an organisation or project in
some way.
1.Identify your management team, board and
Advisers. 2.Include the detail of their value-add
Business weSRCH
business.wesrch.com
6
Know The Size of Your Market
1. Analyze the market condition. 2. How to
Determine Market Size for a Business Plan 3. How
big it. 4. How much is it growing. 5. How fast
is it growing. 6. What is it Profit Potential.
Business weSRCH
business.wesrch.com
7
Know Who Makes up Your Target Market
1.Market Strategies Should be Clearly aimed at
your target market. 2.If, not you are wasting
time, effort and money. 3.When crafting your
Business plan or giving it an overhaul, it's
critical to thoroughly understand your target
customers. Understanding your work best.
Business weSRCH
business.wesrch.com
8
Devise Ideal Promotional Strategies
1.How to reach that target Market? 2.Your
Strategy should include the ideal mediums that
speak most to your clients and where they gather
their information.
Business weSRCH
business.wesrch.com
9
Break Down Your Revenue Streams
Pricing Structure
Costs
Expenses
Margins
Revenue Predication in real terms can actually be
determental to your plan (as it often doesn't
meet expectations)- but knowing what makes up
your revenue is valuable.
Business weSRCH
business.wesrch.com
10
Budget How Much Money Your Need to
Get Started - And Keep Going
Funding to move your idea to Proof of concept
will typically come from friend, family adn
personal fund. Whoever is providing your funding
will want to see asolid business plan. If You
apply for an SBA Loan, you will need 30 of
funding (Plus a solid business plan). If
Approved, SBA will Loan you up to 70 of What
you need to start.
Business weSRCH
business.wesrch.com
11
Create a Plan for Breaking Even
1.Create Contigencies for Positive and negitive
Scenarios. (a)If you hit a rough patch you don't
have plan, Your business could slumb or even
fail. (b)If you see un expected success, your
goals may be pushed up significantly - and
suddenly your need a new plan.
2.Revenue, can be tough to predict but creat a
few different scenarios and establish the sales
required to pay for your expenses and
subsequently turn a profit! 3.If Possible break
it down month-by-month for your business first
two years.
Business weSRCH
business.wesrch.com
12
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Business weSRCH
business.wesrch.com
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