How to Write a Business Plan
Writing a business plan may sound simple enough, but it actually takes several dire and crucial steps. According to entrepreneur Darrell Zahorsky, the following steps are all essential in comprising a plan for one’s business:
1. “Audience & Funding Type: When writing a business plan, you must determine who will be reading it. This decision will shape the business plan. Do you plan to go for debt or equity financing? Each form of funding for your business has pros and cons. For instance, the venture capital market can be very time consuming and competitive. Do you have the time to write the business plan for investor funding and to network within the community? Writing a business plan for investors is 15-30
…show more content…
These are all questions you need to answer to define your business structure.” Zahorsky adds: “The easiest way to go about collecting all your experiences, interviews, and research is to create files for each section of the business plan. These files can be: paper-based, computer files or set-up using business planning software. As you start the research and collection phase of planning, fill your files with notes and printouts.”
5. General Industry Overview: At the fifth step, one should: “Begin the research process with an overview of the industry; uncovering industry and association reports. By having a general understanding of the industry, you will avoid embarrassment in contacting experts with basic questions. Begin the field research once you have a good grasp of the industry fundamentals and need answers to the hard-to-find information.” This step is also the time where one would answer the following questions: “What kind of tangible items will you need to get your business started? Do you need inventory? You will most likely need an assortment of office supplies no matter what your business. Items such as a computer, printer, and fax machine are all typical office needs in today’s society. Do you need equipment? This is a good time to research what you may need in the way of equipment for your business. Make a detailed list so you can easily research costs for each.”
6. Analysis:
1. Compile a business vision about the type of product or service you think your company needs to develop. Next, describe the business values and corporate values that you want to create.
1. Compile a business vision about the type of product or service you think your company needs to develop. Next, describe the business values and corporate values that you want to create.
* The first two assignments (Stages I and II of the project) are worth 100 points each.
The business plan of any organization can only occur after a successful strategic plan is form and securely in place. The strategic plan in any corporation, organization, and small business ventures has a vision on where this organization needs to be in the future. “The strategic plan is a long-term (three- to- five years) views of where the organization is going” (Hillestad & Berkowitz, 2004, p. 32). A strategic plan is just that a plan of things to come and how to attain the business or how
Barringer, B. R. (2009). Preparing Effective Business Plans: An Entrepreneurial Approach. Harlow: Pearson Education Limited.
After gaining enough knowledge on the types of business structure, business owners can proceed to the process so that their plans of owning a business will turn into reality. After reading several resources, the process will be divided into five stages. The first stage is the planning and research. This involves developing viable business ideas, knowing the target customers and possible competitors, searching for the right location, thinking what will be the business name, and marketing strategy. In this stage, a business plan should be made. Business Link (2016) refers, “business plan as a document that defines why you’re in business, your goals, and how to achieve those goals and it also covers all major aspects of the business, including
What is your vision for your business, and what are your goals? Who are your target customers? You’ll need to look at potential employees – will they be contractors, staff workers, or a combination of both. Are remote workers all right or do you want everyone to work onsite? Finally, you’ll need to go over your finances with a fine tooth comb – how much cash do you have on hand, and how much credit? What will you need for start-up, emergencies and company growth?
During Adolf Hitler’s conquer over the Jews, a long-term brain washing effect named propaganda, monopolized Germany. Propaganda was what Hitler loved to use because it worked so well for him! He controlled everyone’s lives by: what they did, how they did it, whom they could be with, and what jobs they could have. It got so bad to the point where he had cameras everywhere and could see what people were doing in their private lives—they did not have private lives. While Hitler had many obstacles and accomplishments, his biggest and most successful of them all was the promotion of Anti-Semitism.
The presidential election can be a stressful, intimidating time for America. Arguments and opinions erupt constantly for months while America decides on who the next best candidate will be to run the country, especially for the 2016 election. Friction between the Republican and Democratic parties have been intense, and the candidates running for the 2016 election have been causing a lot of tension. The two candidates for this year’s election would be none other than Republican Donald Trump and Democrat Hillary Clinton. Considering each candidate 's ideas for dealing with issues such as America’s economy, healthcare, and immigration, my vote would go to Donald Trump.
The first step to starting a business is to create a business plan. A business plan is a document that outlines the overall strategies of a new venture and how those strategies will be implemented (Ebert &
The operations of the business is critical in a business plan because it describes the main components of your business. Management duties and responsibilities can be addressed in terms of the day-to-day operations. This includes what each day of the week will entail for the schedule of the business. Likewise, many topics should cover the nuts and bolts of the business such as production and manufacturing, inventory, and distribution. Topics such as the location, employees, and equipment should be considered to provide the most competitive advantage and success for the business. Lastly, every business requires a structured form of legal registration for licensing, insurance liability and tax purposes.
The First World War occurred when Britain went to war with Germany in the year 1914. During that time, the government led by the Prime Minister called Andrew Fisher pledged to completely support Britain. Globally, the war affected Australia and other nations with a lot of enthusiasm. It lasted for 5 years from the year 1914 to 1919. It was a battle between the allies and the central powers. It is believed to have involved a lot of soldiers and military warfare. It is one of the bloodiest warfare in the history of the world as far as global warfare is concerned. Military troops were placed in trenches which was a strategy that ensured that there was tight defense (Lecture notes: August
2) Next, create an outline for a business plan by answering the following “nine questions every business plan should answer”:
What goes in a business plan? The body can be divided into four distinct sections:
If you are planning to get funding from an investor or financial institution, a traditional business plan is required. The traditional business plan is long and very detailed, with several sections that investors and banks look for when they are weighting on your idea to decide whether to give you funding. Generally, the sections included in a traditional business plan are the executive summary, market analysis, organization management, service or product line, marketing and sales, funding request and financial projections.