Business Planning for Startups & Entrepreneurs

 

Today we are going to talk about business planning.
– What is a business plan?
– Why do you need a business plan?
– What are the uses of a business plan?
– How do you write a business plan?
– Process of business planning?
– Sections of a business plan
– Sample business plan
– Business plan outline

What is a business plan?
A business plan is a roadmap for your business implementation.
It outlines your vision, goals and showcases the plan of achieving them.
Why do you need a business plan?
– Analyze the feasibility of your Idea: Helps You Decide to Proceed or Stop
– Planning Improves Your Odds of Success
– ┬áValuable Insights: Helps you improve Your Business
– Helps You Keep on Track
– Communicate your idea

So what are the uses of a business plan?
– Raising Funds
– Communication to stakeholders
– Project Roadmap for structured implementation

So how do create a business plan? What is the process?
IDEATION & FEASIBILITY – Basic documentation of the idea. Understanding the conceptual feasibility.
MARKET ANALYSIS – Economic, Industry, Competitor analysis. Understand the opportunity.
STRATEGY FORMULATION – Draw out the marketing, operation, human resource strategy for your venture.
FINANCIAL PROJECTIONS – Forecast your costs and sales over the timeline. Understand the start-up expenses.

So what does a typical business plan looks like?
– Executive Summary
– Company Overview
– Products & Services
– Business Model
– Strategies & Tactics
– Milestones
– Startup Expenses
– Financial Statements
– Financial Statements
– Return On Investment

If you need any help with preparing a business plan or an investor deck. You can visit one of my ventures at http://wwwBPlanExperts.com

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