It doesn’t really matter whether you’re writing a business plan for a real or imaginary company whereas there is a certain order to adhere to. It seems quite easy to write an executive summary of a company when one has formulated its mission, goals, strategy and a course of development. After a student determined its niche, it is an essential part to think about marketing, strategic, financial and organizational analysis.
Everyone knows that a properly written business plan is the key to the successful development of a company. Completed business plan should describe your expectations from the new (or existing at the moment) business and talk about your great ideas for a prospective lender if one’s going to betake one. Once you have the notion in mind, it is high time to hit the blank page of paper scribbling down the chapters you’ll include in the business plan outline. Not many people know, however, that despite the fact that business outline is one of the first aspects of business plans, it is the last thing to constitute.
It is necessary to explain your strategy and vision of the project (what you want to do), to describe the market and the capital that you need (which you intend to do with it), and your competitive advantage.Outline its implementation market and market target for each of the segments. Specify the scope of the market and profit you’ll get in 1, 2 and 3 years, analyze the increase or decrease in your income with the growth of the market. Think about the turnover you want to receive to achieve profit and be competitive on the market. Calculate the costs associated with the creation of a company. If it is an existing business, it is important to show financial history; for a new business outline prospective financial performance for the first 3 years after the start of business. Also, count the cash flow and current financial statements.
Taking into account all these specifics, creating a business plan is not an easy process as it requires a lot of pre-investigation of the market and a good knowledge of marketing instruments. Since your assignment may ask you to discuss an existing company, you’re luckier to find relevant information on the Internet for a business proposal. It is important to state the problem, outline the possible solutions and define how exactly it will benefit a company. A fixed time is given, however, to students to write a good-quality business plan. And still, not many teachers think about students problems, a lack of time and incapability to find necessary information in the given timeframe. No wonder that some assignments remain incomplete with profound flaws and mistakes. It results into bad marks you receive from the professor without consideration of any of your problems.
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