Not yet registered? Create a OverBlog!

Create my blog

How to prepare a business plan

Anyone who is considering being an entrepreneur should know how important a business plan is, since business planning is needed to help in conveying the overall concept of the business. All businesses should have a business plan created, because they can serve as road maps for the operation of the business. A business plan is not hard to prepare and almost any business-minded individual will know how to create a business plan.

The importance of a business plan

Why is a business plan needed? All businesses should have an established business plan created since it can be useful in many ways. A business plan can explain the focus and objective of the business. A business plan helps to sell business ideas to investors, banks, or financial institutions. A business plan may even show business owners if there are flaws in the current and future planning process of the business.

Format of a business plan

A vision statement Every business should have a vision statement, which is a statement that details out the goals and purpose of the business. The vision statement should explain what the company would like to accomplish in the near future. A business profile A business profile will explain what the business is all about, and how the business will operate. The business profile should include the nature of the business, the intended market that the business is targeting and the products or services which the business is offering. Cash flow assessment A cash flow assessment should be based on a one-year projection that includes all of the business capital. A cash flow assessment should show what will happen if something goes wrong with the business, and how the issue would be taken care of. Cash flow projections are very important, because if the cash flow is under-estimated, it could really affect the business. Damage control plan Every business plan should include a damage control plan, because all businesses experience situations which can be damaging to the success of a business. The damage control plan should detail any types of threats that can affect the business, and how the business will handle the threatening situations. Some examples of threatening situations for a business could be the loss of sales or strong competition.

Same category articles Business development

A guide to understanding management concepts

A guide to understanding management concepts

Management is the process of controlling and dealing with people, companies or organisations. Management may sound easy but it requires the understanding of management functions in order to be a successful manager. It also calls for the understanding of concepts of strategic management and project management, among others.
What are the benefits of going self-employed?

What are the benefits of going self-employed?

Being your own boss can be tempting, but there are many other benefits for you to consider. Although this can be daunting at first, the rewards that you reap in the long-term cannot be underestimated. Therefore, this article will provide you with some of the benefits of going self-employed.
A guide to doing business in Japan

A guide to doing business in Japan

Japan is considered as one of the world's richest and most technologically advanced countries. The Japanese economy is now the leader in both car manufacturing and electronics industry. Hence, the country offers countless of business opportunities for foreign investors. This article provides a guide to doing business in Japan.
Things to look for when buying a small business

Things to look for when buying a small business

When buying a small business, it is important to carefully examine the business's pros and cons in order to have better judgement and to make a more informed decision. Below are some of the things that you should look at when buying small businesses.