Thursday, November 5, 2009

Business Plan at a Glance

What is a Business Plan?
Business plan is any plan that works for a business plan to look ahead and to prepare themselves to solve the problems and business opportunities. Unfortunately, many people think that business plan is used only a plan to start a new business or making business loans. In fact, the business plan is also important to run a business, to figure how much business needs, and for the purposes of the new loan or new investment. Business plans are also required to optimize growth and development in accordance with business priorities.

What is the plan startup?
One of the important things in your business plan is a plan to start-up. This plan includes a simple startup business summary, mission statement, the key to success, market analysis, and break-even analysis. Such plans are well used to decide whether a plan is continued or not. In other words start-up plan used to determine whether there is business value to be pursued, but with the startup plan is not enough to run a business.

Is there a standard business plan?
A normal business plan (which follow the advice of business experts) includes a set of standard elements, as shown below. A standard business plan formats are varied, but generally includes the components as follows: description of the company, product or service, market forecasts, management team, and financial analysis.

An outline of the standard business plan?
The main components of a standard business plan includes:
1. Executive Summary: This section is only one or two pages and is usually written last.
2. Company Description: Description of the company (company description) contains the legal basis for the establishment, history, start-up plans, etc.
3. Product or Service: This section contains anything sold or offered. Description focuses on the benefits to customers.
4. Market Analysis: This section contains market opportunities, customer needs, where they (customers) are, how to reach them, etc.
5. Strategy and Implementation: This section is organized specifically, included management responsibilities with dates and budgets.
6. Management Team: Include backgrounds of key team, personnel strategy in detail.
7. Financial Plan: Include the income statement, cash flow, balance sheet, break-even analysis, assumptions, business ratios, etc.


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