Business Planning (1)

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Business Planning
Build a successful path for your business
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What is a business plan

• Business plan is a guide that explains, how the
  business should run to achieve the fixed goals.
• Planning is very important to succeed in a
  business.
• Because you can easily track the investments,
  profit and loss through a proper business plan.
• Most of the businesses end up in closures, due to
  lack of planning.
• The many business owners and entrepreneurs
  struggle when and where to invest.
• Whether it is a small or a large scale business,
  having a proper plan, mission, vision and goal
  will definitely help you to succeed in the
  business.

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Common problems faced by a business

• Uncertainty about the future
• Financial management
• Monitoring performance
• Regulation and compliance
• Competencies and recruiting the right talent
• Technology
• Exploding data
• Customer service
• Maintaining reputation
• Knowing when to embrace change

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Planning your business

• Business planning can be done in several ways.
• You can plan your own business or you can hire a
  financial solution provider to plan your
  business.
• Most of the people think of business plans only
  for starting a new business.
• Who need a business plan
• Start up businesses
• Existing businesses

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Planning your business

• Steps of planning a business
• Research
• Determine the purpose of the business
• Creating a company profile
• Document all aspects of your business
• Have a strategic marketing plan in place
• Make it adaptable based on your audience
• Explain why you care