A business plan is a document in which the description
of your business is described.
Who is
benefited from a business plan:
• Investment seeking entrepreneurs
• Business men
• Firms and companies.
When
you should write it
The firms and companies or the individuals cannot only write
it at the very out set of business rather it can be used in a middle stage for
instance they feel the need of business planning in certain matters:
• For attracting key employees
• How to deal with suppliers
• How to manage their companies better.
Main
parts of a business plan
1. business concept
2. Business structure
3. product or service
Second
important part
• marketplace section
A market place section is important too in terms of describing potential
potential customers. You are going to mention who are they and where are they.
Besides that o have to mention how will make them buy etc.
Mentioning
income and cash flow
This is the final section that contains:
• Income and cash flow.
• Balance sheet
• Financial ratios
A business planning is a complete package that offers ways to bridge up your
business towards success. There are several reasons which justify what is the
need to write a business plan.
let’s
see why should write a business plan
1. For
starting a new business
> When any business man or entrepreneur starts a new
business then he needs funds and for this he needs to convince some investors,
business plan in this regard assists you approach investors because this
written form of planning sounds so convincing and well-knitted to investors
that they give their approval to invest the capital.
2.
Middle-stage business writing plan
Some entrepreneurs and companies feel the need to write a
business plan at the middle stage in order to grow more successfully. Business
plan in this regard assists them to approach customers and suppliers.
3. It
enables you to determine your objectives
Business plan gives you the reason to ponder about your
objectives and makes you analyze the minute details to the major ones.
Key
reasons to write a business plan
• You write it for the convenience of your business
ideology.
• You write it because you want your funds to be secured.
• You write it because you want to move systematically rather than haphazardly
• You write it because you want to draw the attention of investors