New Business Plan | Write a Business Plan for Startup

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How to write a winning and best
business
plan
-
Venture
care
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Executive summary It is a very important
section while drafting a clear business plan.
Executive summary reveals that how the company
is planning for its future growth and whether
this is different from others. Apart from
discussing organizational plan, product/service
plan, marketing plan, survival and growth plan
and financial plan it should also answer some
critical questions such as- ? Why this business
will be successful? ? What is the risk appetite
level of the business owner? ? What is the level
of fund required to successfully launch the
business and how much will be promoters fund? ?
What is the short-term and long term goal of the
business? Business Description This includes the
core related areas surrounding the business and
product/services. Some of the key questions
could be ? What is the core area of business
chosen? ? What is the product or service which
will be sold? ? What is the growth potential? ?
What is the business life? Organizational
description This is all about the organizational
structure and unique factors which competitors do
not have. Whether there is a plan to have Pvt
Ltd or LLP or any other structure for the
business. Has the business idea been conceived
by a single person or more people are involved.
Whether there is single decision authority etc.
in the nutshell, the following questions may be
important to be considered ? What is the legal
status of the company and future plan? ? How
many are key decision makers? ? How many
managers are required (operational
segment-wise) ? How many technical personnel are
required? ? How many sales personnel are
required? ? What is the plan to increase the
number of personnel in next 12 months? Product
and services What is marketed are actually
products and services. This section should
comprehensively include even the small aspects
related to products/services. What is the USP of
the product and how it serves the exact need of
the customers should be very clearly mentioned.
If services are attached to the product then
focus should be highlighting the add-on benefits
which customers will drive. Every product has the
life. The section must mention the approximate
product life. Also, how the company will plan
with the new or modified product with extended or
with at least earlier similar benefits. Few
questions which draw attention are
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? Is it the standard product or customized
one? ? If it is standard product and any customer
wishes to add some more features then is it
possible? ? Whether IP has been taken on the
product? ? How product maturity shall be
tackled? ? What will be the RD cost and
maintenance to the business? Industry Industry
dynamics always change. A business plan must
include the probable changes and the way to
overcome those changes. Key success factors
should be identified and should be mentioned that
how the company will go forward. The complete
industry should be categorized into segments and
sub-segments and accordingly, the customers
should be identified. This section must include
also ? Who are the targeted customers? ? What
is the size of the targeted customers? ? Who are
the competitors? (in numbers) ? What is the
expected market share for this product/service? Ma
rketing Many business plans usually say that
what marketing channel shall be used to market
products/services. But a sound and explanatory
business plan should clearly express that HOW
MARKETING WILL BE DONE, WHICH CHANNEL SHOULD BE
ADOPTED AND THE EXPECTED TANGIBLE BENEFITS WHICH
THE COMPANY WILL DERIVE FROM IN TERMS OF GROWTH
OF CUSTOMERS. This section should answer the
following also ? Why the customers will need
it? ? How the potential customers can be
reached? ? Can the customers manage their
business operations without this new
product/service? ? Does the price (cost to the
customers) of the product/service justify the
benefits? Threats No business can avoid threats.
It should be mentioned that how the possible
threats should be handled. Answering the
following questions may be beneficial ? What
could be the potential threats? ? How frequently
it can come? ? What will be the level of impact
of the threat to the business? ? How the company
will overcome it? Financials
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A financial plan is one of the crucial aspects
because ultimate objective is to raise finance
and use it for various purposes. How much
finance is needed at which place should be
mentioned? The following should be included ?
What will be the promoters contribution? ? For
what purpose the promoters money shall be
used? ? What will be the exit option to the
investors? To conclude Every Business plan is
unique in its case. So it should be drafted with
utmost care. Moreover, it should include all the
planning aspects and should be self-explanatory.
Loopholes, if any, should be highlighted and
also the way to remove those loopholes. This will
make the business plan more genuine and
presentable. Venture Care can help you with the
Business Plan Services, Click here to know about
our Business Plan Services in India. If you have
any query please comment in the comment box below
or call us on 020 65363633
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