How to develop your business plan

A business plan is a program that includes a description of the actions of the company, information about it, about the product, services, their production, markets, as well as information about the effectiveness of the organization. Proper planning contributes to the development of the company, increase its profits. Responsibly to the development of a business plan, as the further work of your organization will develop in accordance with it.

You will need

• - study guides

• - methodical literature

Instruction manual

1

Decide on a business idea, that is, what exactly do you want to do. Evaluate your capabilities in its implementation in practice.

2

Specify the goals for which you are writing this business plan: to determine the sequence of actions of the organization, to study consumer demand, to identify sources of financing. Decide on the addressee to whom your plan will be sent: the bank, the investor, or it is made only for personal use.

3

Explore entrepreneurship information. Refer to the textbooks, if possible, get advice in a business center. It will be useful to take courses for beginning entrepreneurs. There you will be given the necessary information on business planning.

4

Make a rough plan for your future business plan. Outline what you will write about, in what part to do the calculations.

5

Start working more deeply on each item in the plan. It is best to turn to consultants for help: lawyers, tax specialists, and economists.

6

Be sure to study consumer demand. The more potential consumers are interviewed, the more reliable the information will be, which means that the course of your future activities will be correct. It is also recommended to study the experience of competitors in order to predict possible errors in the work.

7

Justify the choice of the form of the enterprise (individual entrepreneur, limited liability company, etc.) As an application to the business plan, collect a maximum of various information that will show your knowledge in the chosen business and will help you work: price lists of raw material suppliers, description production technologies, loan repayment schedule, etc. These data will be useful to you for further calculations. Here also indicate the need for licenses, technical conditions. If these documents are not available, indicate under what conditions they can be obtained.

8

Evaluate the resources that you currently have, what else is needed, where to get the rest, on what terms.

9

Indicate if there is a need to attract workers. If there is a need for "scarce" specialists, think about what conditions to offer them so that they are more profitable than competitors.

10

Analyze and plan the possible costs of electricity, water, communications. Reflect your calculations in the business plan.

eleven

Often the activities of the enterprise do not start due to problems with environmental, sanitary and other regulatory services. To prevent this from happening, in the business plan, note whether you need permissions from these services to carry out your activities.

12

Indicate the strengths and weaknesses of your enterprise. What will be its feature, difference from competing enterprises. Assess the possible risks and ways to overcome them.

thirteen

Based on your research on marketing activities, make optimistic and pessimistic forecasts of your company. This is necessary in order, in the first case, to track the dynamics of the enterprise, and in the second, to assess possible losses, since in any case it will be necessary to repay the loan. Marketing activities include: identifying possible "niches" of the enterprise, developing goods and services meeting the requirements of consumers, the choice of methods for promoting goods, pricing of goods and services, the choice of suppliers, etc.

14

After developing a business plan, a title page is written with the name of the organization and the name of the leader, the essence of the project is briefly written, the payback period is indicated, and by whom and when this business plan was developed. Since you will have a ready-made business plan with all the calculations, then it will be easier for you to adjust goals, ways to achieve goals, means necessary for business development.

note

It is important to predict possible changes in demand, for example, due to changes in the fashion or taste of consumers.

Useful advice

Even if you have hired the best specialists, do not step back from the work they perform. So you yourself will begin to understand the intricacies of their business and improve the marketing system of your enterprise.

how to develop a business plan