Entrepreneurs should undertake the task of preparing the business plan personally.
Although outsiders - consultants, accountants, and lawyers - should be tapped for their advice and expertise, the promoter or the initial top management team should be responsible for the writing.
Conclusion - Briefly once again point out the highlights and key features of your business plan.
Also mention the time schedules against each stage of your venture.
Form of Business - Describe the legal form of your business - whether it is a sole proprietorship or a partnership, public limited co. Critical Risks - As a legal and moral obligation, the entrepreneur must, in the business plan, envision risks the investor would be undertaking in case he makes a choice to invest in your business.
New Business Plans In India
This will protect you from civil and criminal liability.Quality - Discuss the quality control measures to be put into place by your firm to ensure the quality of the product/service.Marketing - Once again underscore the market potential for your product by describing your product's exclusivity, describe how it will exploit your competitors weaknesses.The objectives can be broadly divided into quantitative and qualitative objectives.Market Analysis - The business plan should be able to convince the investor that the entrepreneur understands the prevailing competitive environment and is able to prove that his/her product/service is a niche product or service with substantial prospects for growth and capable of attaining a competitive position in the market.The Benefits of Business Planning The business plan can personally benefit the entrepreneurial team.Founding a new business can be enormously fulfilling and exhilarating, but it is also an anxiety-ridden and tense experience.Identify the target market which should be substantiated by a thorough market research.Once the target market has been identified, focus on the communication strategy including advertising, branding, packaging etc.The pages should be crisp with wide margins and easy to read size and style of font. The essential elements of the plan are generally recognized.The preliminary sections set the stage for the reader.