When creating a new business, there is a need to develop a business plan. Every entrepreneur knows how important it is to make and complete a business plan correctly. After all, it is your business card when communicating with potential investors or applying to the bank for a loan. A business plan is a developed economic program for the management of an enterprise, describing its development strategy, from product production and improvement of sales markets.
At the heart of the right business plan is always the main idea of business and its success depends on the choice of a competent business idea. Successful are considered original ideas that find a free niche in the market and are based on the knowledge and experience available to this businessman.
The main criteria for correctly writing a business plan are:
- Summary. It is the most important component of the business plan, which contains the main essence of the whole project. This part is studied by all investors, therefore, from the correct writing of a resume, depends on the opinion that has evolved from the business plan as a whole. After all, it contains data on the amount of the loan, the terms of its repayment, and the provision of guarantees. To attract foreign investors, the resume is written in English.
- If you want to correctly write a business plan, do not forget to include in it such an item as the description of the enterprise. It is necessary to characterize the enterprise, write about the tasks, the objectives of the project, the economic and financial characteristics of its activities, partnerships, outline the geography of the project, applied know-how, advertising opportunities, the place of the enterprise in the economy, personnel, management system. Here, the contribution of each co-owner to the creation and management of the enterprise is outlined.
- A correctly written business plan includes a description of the products or services provided. It should be detailed: you need to specify the name of the product, its distinctive features, safety, competitiveness, outline how it is planned to control the quality of products, resources for warranty and post-warranty service. The necessary licensing agreements and patents are also attached. For clarity, a sample of your product or photos and drawings is attached.
- In the right business plan is written about the analysis of the market: how you will attract the buyer, the expected volume of sales of the goods. You need to consider the main competitors, assess the pros and cons of their products, calculate the possible actions for the emergence of your company.
- It will not be possible to correctly make a business plan, if you do not take into account how the products will be sold. It is necessary to indicate the principles of pricing, taking into account the costs of selling and producing the product, seasonal fluctuations in demand. Specify the level of prices for competitors' products and characterize the potential client.
- Correct preparation of a business plan implies the creation of a financial plan. It is very important to correctly calculate such financial data of the business plan as: tax payments, financial forecasts, the main costs and financial revenues of the project, profitability indices, payback periods, payment schedule.
Display information on the responsibility of borrowers and the system of guarantees for payments. - To create a business plan correctly is to analyze how the possible economic and internal changes affect the sustainability of the project, determine the boundaries at which the enterprise's income will be zero.
- The environmental information describes all the data on environmental testing and applies regulatory documents permitting the release of the goods.
Business plan is a working scheme for creating your business. Correctly written and implemented business plan will be your way to success and prosperity.