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Secret to writing a successful business plan?

  1. IntimatEvolution profile image82
    IntimatEvolutionposted 6 years ago

    Secret to writing a successful business plan?

  2. Beth Pipe profile image84
    Beth Pipeposted 6 years ago

    Making sure it has a section that deals with translating the plans into actions.  I've seen too many business plans in my time that have left that last, and most important part out.

    Part 1.  Where are we now?  (Easy)
    Part 2   Where do we want to be? (Easy to write, hard to be realistic)
    Part 3   How are we going to get there?  (Hardest part and usually missing.)

    Hope that helps!

  3. Infocrest profile image60
    Infocrestposted 2 years ago

    7 INGREDIENTS OF A BUSINESS PLAN
    Does your business plan tell the story of your business? If not, here is the answer! To express the idea of your business you need a business plan that fits your exact business needs. You start today with certain resources, you want to get to a tomorrow, a point in the future at which time your business will be having a different set of resources. So it should show how you will get from today to tomorrow. Here are the essential points to be added:
    EXECUTIVE SUMMARY:
    This summary is the doorway to your business plan. This is the most important section of your plan. So jot it down in a manner so that it can grab your reader’s attention and let them know why they should read the rest of your plan. This includes all the key points of your complete plan and hence should be the last point in your list.
    BUSINESS DESCRIPTION:
    It includes the short description of the industry. It must summarize the vision and what you wish to deliver to your market.
    MARKET STRATEGIES:
    Market strategies are the result of market analysis. This section should describe your target audience including demographics, market trends and market growth.
    COMPETITIVE ANALYSIS:
    Know your competitors and determine the strengths and weaknesses of their business, and write the strategies that can provide you with the distinctive advantages over them.
    PRODUCTS AND SERVICES:
    Under this section describe your products and services. Describe your product design, development budget.
    OPERATIONS AND MANAGEMENT PLAN:
    This section should describe the members of your team. Explain how you and your team will execute the vision for this business and how it will prove to be the right team for the taking your business to the path of victory.
    FINANCIAL SUMMARY:
    Describe your financial strategy and how it supports your projected growth. Include projected cash flow, profit and loss and balance sheets.
    So what are you waiting for? It’s time to roll up your sleeves and get everything down on paper!!

 
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