This document discusses the importance of developing a business plan for entrepreneurship. It begins by defining a business and entrepreneurship. It then explains that a business plan is a selling document that conveys the promise of a business to potential backers. The document outlines the key components of a business plan, including an executive summary, company summary, products/services, market analysis, strategy, management, and financials. It emphasizes that a business plan provides insight into a business, can help secure financing, and allows owners to objectively evaluate strengths and weaknesses. Developing an extensive plan takes time but can prevent business failure and guide long-term success.

1. Importance of Business Plan
in Entrepreneurship

3. Business :
• A business is an organization involved in
the trade of goods, services, or both
to consumers.Businesses are predominant
in capitalist economies, where most of them
are privately owned and administered to
provide service to its customers. Businesses
may also be not-for-profit or state-owned. A
business owned by multiple individuals may
be referred to as a company, although that
term also has a more precise meaning.

4. ENTREPRENEURSHIP
What is meant by entrepreneurship?
The concept of entrepreneurship was first established in the
1700s.
The entrepreneur is one who is willing to bear the risk of a new
venture if there is a significant chance of profit.
Entrepreneurs develop new goods or processes that the market
demands and are not currently being supplied.

5. Business Plan
 A “Business Plan” is a “Selling Document” that conveys
the excitement and promise of your business to any
potential backers and stakeholders

6. I.
Introduction to Business Plans
II.
Business Plan Components
III. Benefits of a Business Plan
IV. BizCentral USA’s Business Plan Writing
and Process

7. 
For a business to be successful and profitable, the
owners and the managing directors must have a
clear understanding of the firm's
customers, strengths and competition.

Taking time to create an extensive business plan
provides a company with insight into your business.

This document can serve as a powerful financing
proposal.

While all business plans follow the same
structure, each business will have a unique plan
with a different set of information.

8. •
1.
It forces the person preparing the plan to look at the
business in an objective and critical manner.
2.
It helps to focus ideas and serves as a feasibility study
of the business's chances for success and growth.
3.
The finished report serves as an operational tool to
define the company's present status and future
possibilities.
4.
It can help you manage the business and prepare you
for success.
5.
It defines your purpose, your competition, your
management and personnel. The process of
constructing a business plan can be a strong reality
check.

9. FAST FACTS:
• 90% of new businesses fail in the first two years. Failure is
often attributed to a lack of planning.
• A comprehensive, well constructed business plan can
prevent a business from a downward spiral.
• A thorough business plan will have the information to
serve as a financial proposal and should be accepted
by most lenders.
• By taking an objective look at your business you can
identify areas of weakness and strength.

10.  While it is understandable that the owner not write
the business plan, he or she should be an active
participant in the development of the plan.
 It doesn't matter if a company is using a business
plan to seek financial resources, evaluate future
growth, define a mission or provide guidance for
running the business- A business plan should be a
professionally presented compilation that reflects
the business in its entirety.

11. •
•
•
•
•
•
•
Executive Summary
Company Summary
Products or Services
Market Analysis
Strategy and Implementation Summary
Management Summary
Financial Plan

12. • Executive Summary:
• A persuasive summary that will entice a reader to take
the plan seriously and read on. Includes information on
the company’s
history, objectives, services, market, strategies, manage
ment, and funding.
• Company Summary:
• Company summaries should discuss in detail the
business’s ownership and legal status.
• Also includes information on the company’s start-up.

13.  Products or Services:
 It is important to discuss the competitive
advantage a business’ product or service has over
the competition .
 They should answer why there is a need for the
product or service. What makes your product or
service unique?
 Can you price the product or service competitively
and still maintain a healthy profit margin?
 Marketing Analysis
 Provides an analysis of who your customers are,
their purchasing habits, their buying cycle, etc.
 Investors look for management teams with a
thorough knowledge of their target market.

14. Strategy and Implementation:
What resources and processes are necessary to get
the product to market? This section should describe
the manufacturing, R&D, purchasing, staffing,
equipment and facilities required for your business.
Management Summary:
Investors must feel confident that the management
team knows its market, product and has the ability to
implement the plan.
Therefore, a plan must communicate management's
capabilities in obtaining the objectives outlined in the
plan.

15. Financial Plan:
 At the heart of any business operation is the
accounting system.
 One of the first steps to having a profitable business is
to establish a bookkeeping system which provides
data in the following four areas:
 Balance Sheet
 Break-Even Analysis
 Profit and Loss Statement
 Cash Flow
 If the goal of your business plan is to obtain financing,
a company must generate a financial forecast for 3-5
years.

16. 
Include any documents that lend support to
statements made in the body of your
company's business plan.

Resumes

Credit information

Quotes or Estimates

Letters of Intent from prospective customers

Letters of Support from credible people who know you

Leases or Buy/Sell Agreements

Legal Documents relevant to the business

17. 
1.
2.
3.
4.
Puts a business idea to the test; it fine-tunes it up-front.
Turns a good idea into a viable business or a working
enterprise.
Helps you come up with creative ways to make your
business work.
Shows you what you are up against with competition.
5.
Creates a detailed action plan to keep a competitive
advantage.
6.
Specifies what you need to start the business… saves
time and money.
7.
No nonsense list of equipment needs.

18. 8.
Provides a timetable when you need to finish
the items on your to-do list.
9.
Helps you get the funding you need.
10.
Tells the world who you are.

19. 1.
After a client signs up for the service, they
must sign the order confirmation & terms.
2.
Client receives a link to the business plan
steps page & questionnaire.
3.
The steps page includes tools, resources
and samples that will help the client provide
the service consultant with useful
information for their plan.
4.
Client submits the questionnaire and within
48 hrs an interview is set up with the service
consultant.

20. 5. During the phone interview, the service
consultant will discuss business service or
product offerings, target market, projected
sales, and sales/marketing strategies with
the client.
6. After the interview, the service consultant
will thoroughly research target
market, industry, demographic and other
business data in order to provide additional
plan content.
7. Work usually is completed within 10-15
business days and a copy of the plan will be
provided to the client via email.

21. 
What is our experience with business plans?


Do you guarantee you work?


Our clients receive a draft copy of the plan and we work with
them on it until it meets their approval.
Do you have references?


Because we are a low price leader, we process these in
volume so we know how to do it right. Also, we know what our
client’s banks and investors are looking for in a business plan.
Yes, we can send clients a list of other satisfied clients who they
may call. Also, they can view sample plans on our website.
What if I get denied a bank loan?

No one can guarantee investors or loans, however if a client
needed to add additional information or content, we will work
with them.

22.  Once the business plan is completed, it
should become an operational tool to
measure the success of the business.
 This plan should be updated as
milestones are reached.
 A business should not shelve the plan
once they receive the necessary capital.
It should be a valuable tool for the growth
and development of the business!