Business Plan Requires More Than Watching “The Wolf of Wall Street”
Here is a mini-guide to develop a business plan for all the “beers” out there to keep you flowing.
So you might have watched TVF Pitchers, all charged up to set out on your entrepreneurial journey. You might as well need a little bit of help to transform your plan into reality. We are here to do our bit. Find below how to develop an effective business plan:
- Business ki janm kundli?
- A business plan is a document that explains crucial information (like objectives, financial targets, operational details, marketing plan, etc.) of your company.
- It also covers your approach towards achieving them.
- The business plan of a company can be reviewed and updated if required.
via uschamber
- Baat sirf paiso ki nahi hai:Â
- A business plan drastically helps you manage, grow and structure your business apart from getting you investor funding.
- At any point in your entrepreneurial journey, it will help you to track your business milestones.
via business2community
- The toss that decides the flow of the game-Executive Summary:
- Executive Summary is a short accumulation of all the core details: what the company is and what can make it successful, offered product or services and other info (leadership team, employees, and location).
- An executive summary is crucial. It helps the executives to take the call whether to proceed with the proposal or not.
via itprotoday
- So…tell me about yourself-Company Description:
- Company description talks about the company in detail: problems solved by the business and the customers or the organizations that the company plans to serve.
- You can boast about your strengths by mentioning the competitive advantages of your business.
via searchenginejournal
- Dip your feet before diving into the pool-Market Analysis:
- The market analysis contains details on the kind of market you are diving into. It also has ways it influences the functioning of your business.
- You can talk about what the other businesses in the same sector as yours are doing and their strengths. Talk about the current trends in your field and how you differ from your competitors.
via vocal
- So captain, who all are you playing eleven?-Organization and Management:
- This section sheds light on organizational structure, management team, board of directors, and ownership.
- Basically, it is included in the business plan to tell the investor about who is part of the business, their background and their role.
via peoplematters
- I will make you an offer…I think you won’t refuse-Service Line:Â
- Service or product line describes the services offered by you or the products sold by you. Here you will mention the benefits that you are providing to the customers and other relevant product details.
- Further, explain the research and development of your product and the copyrights that you intend to file for your product.
via openforbusiness
- Nagar me dhindora pitwa do Mama!-Marketing Plan:
- This section focuses on how you will market your service or products and how a sale will happen.
- You can talk about the flexibility of your marketing approach and how you will alter it as per the market requirements.
via btgconsulting
- I need a dollar…dollar. The dollar is what I need-Funding Request:
- The funding request is the section that covers your funding requirements.
- In this section, precisely explain the amount of funding needed over the next 5 years and how you will have to use it, and whether you want debt or equity.
via fundingnote
- I am not Rohit Mehra, but I can predict-Financial projections:
- The financial projection lists your predictions about the income, expense, cash flow and company budget for a certain period.
- This part is essential to convince the investor about the stability and financial viability of your business.
via go4cource
Despite being so precise, a business plan is just the tip of the iceberg, but still, a good and crucial start for you to become the next big shot. Gulp down some more pints of beer with your co-founders, keep building the business, and keep cruising on.
Blog Edited By Ritika Gupta
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