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Merlissa:
What is a business plan?

A business plan is a written description of your business's future, a document that tells what you plan to do and how you plan to do it. If you jot down a paragraph on the back of an envelope describing your business strategy, you've written a plan, or at least the germ of a plan.

Now that you understand why you need a business plan and you've spent some time doing your homework gathering the information you need to create one, it's time to roll up your sleeves and get everything down on paper. The following pages will describe in detail the seven essential sections of a business plan: what you should include, what you shouldn't include, how to work the numbers and additional resources you can turn to for help. With that in mind, jump right in.

Executive Summary
Within the overall outline of the business plan, the executive summary will follow the title page. The summary should tell the reader what you want. This is very important. All too often, what the business owner desires is buried on page eight. Clearly state what you're asking for in the summary.

Business Description
The business description usually begins with a short description of the industry. When describing the industry, discuss the present outlook as well as future possibilities. You should also provide information on all the various markets within the industry, including any new products or developments that will benefit or adversely affect your business.

Market Strategies
Market strategies are the result of a meticulous market analysis. A market analysis forces the entrepreneur to become familiar with all aspects of the market so that the target market can be defined and the company can be positioned in order to garner its share of sales.

Competitive Analysis
The purpose of the competitive analysis is to determine the strengths and weaknesses of the competitors within your market, strategies that will provide you with a distinct advantage, the barriers that can be developed in order to prevent competition from entering your market, and any weaknesses that can be exploited within the product development cycle.

Design & Development Plan
The purpose of the design and development plan section is to provide investors with a description of the product's design, chart its development within the context of production, marketing and the company itself, and create a development budget that will enable the company to reach its goals.

Operations & Management Plan
The operations and management plan is designed to describe just how the business functions on a continuing basis. The operations plan will highlight the logistics of the organization such as the various responsibilities of the management team, the tasks assigned to each division within the company, and capital and expense requirements related to the operations of the business.

Financial Factors
Financial data is always at the back of the business plan, but that doesn't mean it's any less important than up-front material such as the business concept and the management team.

Source: www,facebook.com/tequila.nigeria

charix:
...and once again no example was posted. I know all these stated already I just want to see how it'd look like after execution.

OnyiloG:
I love this. Thanks.

Ephiezy4real:
Thank you FP.

jefy:
Nice one bro,a business plan and a business proposal,are they the same? And secondly,a realistic example of a business plan using a proposed business will be more beneficial..

Merlissa:
The next post would contain samples and step by step process of how to write a business plan...


Thank you for the lovely comment..


Follow this trend

J0nyb0y:
Hi, thanks for this post. Please can you write something on business proposal or direct me to sumwhere i can learn. i have be asked to submit one today/tomorrow and av got no single idea how to go about it.
Thanks

Merlissa:
What do you want to learn about business proposal??

J0nyb0y:
how to write a wining business proposal... thanks

Merlissa:
Have you seen the post on that?

pneumaticos:
Hye op, why dont you render business plan service to the tons of confused it and business guys on the forum....I know you have this in mind.....so just go straight to the point .....hope your charges wont be too much for guys on this platform

Merlissa:
Thank You..

Am a lady

Business plans and business proposals are totally different in their use and nature. Both are documents used in business but both have different purposes. Business plans reflect the long term plan of a business. It reflects the way a business plans to establish itself over a longer period of time. Business proposals on the other hand are not meant for longer term. They are an intention to work out a business venture with another business.

The intended audience of both the documents also varies significantly. The business plan is intended for the management as well as the lenders and many others. The business proposal is however a document that is only intended for the other business with whom a business wishes to enter into a joint venture with.

Merlissa:
Pls hw do I contact you?

Have you seen the post on that?

Merlissa:
Send me a PM...

My details are on my profile