1. BUSINESS PLAN

2. 8.1 DEVELOP A BUSINESS
PLAN

8.1.1 The
Meaning of B.P

8.1.3 The
Characteristics
of a good B.P

8.1.2 The
Purpose and
The Importance
of B.P

8.1.4 Business
Plan Format

3. 8.1.1 THE MEANING OF A
BUSINESS PLAN
business plan -is now very general
and flexible term, applicable to the
planned activities and aims of any
entity, individual group or
organization where effort is being
converted into results,
for example: a small company; a large
company; a corner shop; a local
window-cleaning business; a
regional business; a multi-million
pound multi-national corporation.

4. 8.1.2 The Purpose and The
Importance of B.P

A good business plan is
essential for securing outside
funding.

Creating a good business plan
is often the first step in starting a
new business.

5. 

Importance and Purpose of Finance
Section
Lenders may not even consider
working with you if you do not have a
thorough business plan.

Importance and Purpose of
Executive Overview

The introductory sections of your
business plan should include a
description of your products and
services and an overview of your
company goals

6. 
Importance and Purpose of Marketing
Section

The business plan must include a market
analysis and marketing plan. This section
is important to show you have researched
local competition to determine a need in
the area.

Legal Aspects
The written business plan will help shape
your ideas and goals as well as force you
to complete research on insurance
requirements, licensing requirements and
state and federal regulation

http://www.myownbusiness.org/s2

7. 8.1.3 The Characteristics of a
good B.P

A business plan should be detailed.
In listing your products and services
for example, you should not really
stop by just enumerating them. You
also should write down the
descriptions and scope of your
products and services, touch base
on production and identify means on
how you can market your "brain child" to your targeted niche.

8. 
. It should include a market
research that identifies your
competitors, their share of the
market and the range of the
products they produce. By
learning how they conduct their
operations, you may learn tricks
of the trade in the business you
want to enter and you also get to
have a basic on what you can do
to excel.

9. 
. It needs to have a list of everything
you need. Note that the word
everything here comprises of the
equipment, technology, raw
materials, financial and other
resources that you may need when
starting and running your business
venture. Having all these listed will
give you an idea on how much
capital you need before you start and
how much money should you make
in a day to make your business
survive.

10. 
It also needs to be written in
formal format and style. You
have to remember that a
business plan is something that
you may have to present to your
business partners, financial
firms and banks. So if you can,
refrain from using slang in any
part of your plan.

11. 
Finally, a business plan should
be error - free. This is important
because your business plan
defines who you are as a
business person. If it turned out
sloppy, then that does not speak
too highly of you.
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12. 8.1.4 Business Plan Format






All plans should include at least the
elements listed below, and perhaps
additional sections depending on the
type of industry.
Executive Summary
Company Background
Products or Service Overview
Unique Selling Proposition and
competitive advantages
The Marketplace
Operations

13. 
Leadership and management
profiles including professional
competencies

Professional Support

Risks and Threats assessment

Financial forecasts including key
assumptions

Relevant appendices

14. 







Table of contents.
Executive summary or your
business plan synopsis
Introduction
Purpose of preparing B.P
Company background
Background of owner
Organization of the company
Finally, marketing plan.
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15. 
marketing - believed by many to
mean the same as advertising or
sales promotion, marketing actually
means and covers everything.

Marketing is the process by which
a business decides what it will
sell, to whom, when and how, and
then does it.

marketing plan - logically a plan
which details what a business will
sell, to whom, when and how,
implicitly including the
business/marketing strategy.

16. 
sales - the transactions
between the business and its
customers whereby services
and/or products are provided in
return for payment.

sales plan - a plan describing,
quantifying and phased over
time, how the sales will be made
and to whom.

17. DONE