Business Plan: Plan: Detailed Proposal For Doing or Achieving Business Plan: A Business Plan Is A Planning

Business Plan
Plan: detailed proposal for doing or achieving

something
Business Plan: A business plan is a planning
document which sets out in both words and figures a
proposed business venture
It presents objectives and proposes means and the time
horizons to achieve those.
It presents a prediction about the future, given a certain
resource investment.
It makes assumptions and forecasts about many
aspects of an entrepreneurial venture, including the
size and nature of the market, costs of producing and
delivering certain products and services and the
scope and potential responses of competitors and
alternatives to the venture.
For whom is a business

plan made
Outside audience
For lenders and investors
For prospective employees
Internal Use
As a management tool
Benefits of business
plans
They outline your business ideas and helps you focus
your thoughts
They quantify the entrepreneurial proposal providing
numbers to show possible inputs and outcomes
They provide information about the team and their
track record that provide evaluation about their
capability to deliver objectives
They provide reassurances that the team has a well
thought-out plan about the market and their likely
responses
They provide reassurances that the team has
considered how to implement the idea
They provide a benchmark for evaluating progress in
the future
Benefits of a business
plan
It helps to obtain financing

It helps to understand competitors
Helps to understand your financial position
Helps uncover potential weaknesses
Helps identify overlooked opportunities
Tests commitment and that of team
members
Helps anticipate and adapt to change
Provides with a measure for evaluating
results
Windows of opportunity
The time period available creating a new venture
Business plan
The description of the future direction of the business
Casual process
A process that starts with desired outcome and
focuses on the means to generate that outcome
Effectuation process
A process that starts with what one has and select
among possible outcomes
Elements of a business
plan
1. The cover page:
This highlights the following information on the
business plan cover page:
A company logo, the business name, address
(including email), telephone. It also states
the date that the plan was prepared etc.
2. The table of contents:
This should clearly and simply lead a reader to
each of the documents in the plan. Page
numbers are accurately reflected
3. The executive summary:

This is the most important section of the business plan. Its purpose is to
summarise the highlights of the plan and to provide a brief snapshot of
the business. It must be concise, specific and well-written. It
emphasises those factors that will make the business a success.
4. The team:
This refers to the members involved in the establishment of the
business. Reference should be made to the conpetences of the
members and their roles
1.Objectives and goals
2.The business model

3.The problem or need being addressed
4.Description of the product or service
5.Description of the market
5. . Company background and

current status
For a company that has been in operation for a
while, you need to set the stage for the
business plan with a narrative that explains how
your company came into being and what were
the major milestones you have passes along the
way.
This will give the reader a sense of why you
chose the business you are in, where you
currently stand in the business life cycle and a
general overview of your major strengths and
weaknesses.
6. Objectives and goals:

The statement of objectives in your business
plan is basically your short list of goals for the
year, or for the time period covered by the plan.
Most business owners find it helpful to set a
number of annual financial goals. You may also
have some non-financial goals, such as opening
a new location,introducing a certain number of
new products, establishing a training
programme for employees etc.
Description of the market
7. The industry
The industry (problem or need being addressed):
The industry is the section of the business plan in
which you demonstrate your knowledge about the
general characteristics of the type of business you are
in. You should be able to
present some statistics about
The industry
the size of the industry with some indications
regarding the major participants.
You should be able to discuss important trends that
may affect your industry. For example significant
changes in the target market, in technology, or in
other related industries may affect the market
perception of your product.
8. Description of the
market
Market analysis:
This section provides the evidence that there is a niche in
the market that your company can exploit consist of:
An industrial analysis, which assesses the general
environment in which you compete
A target market analysis which identifies and quantifies the
customers that you will be targeting for sales
A competitive analysis which identifies your competitors and
analyses their strengths and weaknesses.
A SWOT and /or needs analysis may be included to further
describe the strengths and weaknesses of your business and
market opportunities and threats you face (SWOT) or the
met or unmet needs that you perceive in the market place
9. Resources required
Determine resources needed
Determine existing resources
Indentify resource gaps and available
suppliers
Develop access to needed resources
10. Managing the

enterprise
Develop management style
Understand key variables for success
Identify problems and potential
problems
Implement control systems
Develop growth strategy

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Business Plan

Plan: detailed proposal for doing or achieving

For whom is a business

It helps to obtain financing

3. The executive summary:

2.The business model

5. . Company background and

6. Objectives and goals:

Description of the market

10. Managing the

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