A business plan assists entrepreneurs and business men
to move forward smoothly and make solid decisions for the success of their
business. Business plans vary as they depend on the nature of the business so
the level of details isn’t the same of all business plans.
Example
of a simple business plan
For instance there is a woman who is into a business of gift
basket making at home and she sells it on the weekend at a local market. So a
business plan will provide her an opportunity to adopt new ways and trends to
develop and improve the business.
A
simple plan
• In a simple business plan at start-up stage it focuses on
the mission statement, deals with the problems you will solve for your
customers, solutions suggested by you.
• Deals with market analysis. Some startups are simple some are fully detailed
depending upon the nature of business.
Develop
a plan that could meet your business needs
The type of business determines the following:
• Financing requirements
• Business objective
Important
pointers of the level of plan you will need
• When
a second person involved:
When a second person involved then the need for planning
gets multiply. The plan eventually has to be critical as it has to be eligible
for communicating values, goals, strategies, and detailed implementation.
• For
internal use:
For internal use more information is not needed such as no
need to describe company’s history and product features. You are just supposed
to stick with the topics that can add value.
•
Description of purposes:
For the description of purposes cover the certain points:
1. Objective
2. Keys to success
3. Target market
4. Competitive advantage
5. Basic strategies
This will cover your business idea very well.
• Market
analysis
A good market analysis can help you see opportunities that
might not otherwise be obvious. Understand why people buy from you. What are
the needs being served? How many people are out there, as potential customers?
•
Managing inventory
Before making a sell you need to buy an inventory and that’s
when a plan gets sophisticated as you are required to manage substantial
volumes of inventory.
•
Selling on credit
Selling on credit deal with a business which sells to businesses, here your customers owe you money and you have to manage that money and this again demands for a sophisticated plan.