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The Business Plan details how you will generate an income and what the costs of establishing the business will be.
However, the Business Plan should demonstrate the financial viability of the business and not only describe the business. The document is therefore aimed at assisting people to understand the content of a Business Plan and then suggests how they may start preparing one.
It is only once a Business Plan has been prepared that the entrepreneur and others who need to know how the business will work and whether it is likely to succeed, can make informed decisions about whether the business is likely to succeed. If you are intending to add adventure activities to a range of pursuits your existing tourism business already offers you will wish to be aware of the content of this brochure, picking out what is relevant for you and what is intended for dedicated adventure tourism enterprises or new businesses.
Executive Summary or Introduction The Executive Summary or Introduction is the part of the Business Plan that help me draw up a business plan written last, once you have established that the business can work and should be viable. The Executive Summary is normally a short but powerful statement about what your business is all about and why you believe it will be successful.
This part of the Business Plan is arguably the most critical part because often a bank or investor may turn down an opportunity to get financially involved or invest in a project simply on the basis of having read the Executive Summary. Description of Business It is important to understand exactly what the business is all about and how it will work.
A clear and concise description is useful and can be used as a guide in the future. The business is best described using sub-headings dealing with different aspects of the business.
Your source for local news, sports, high school sports and weather in and around Jefferson City, Columbia, Fulton and the Lake of the Ozarks. All of Mid-Missouri. No matter where you are in your small business journey we're here to help. Find financial guidance, tips, tools and the right business banking products and services, that can help you move your business . Jan 20, · How to Write a Business Plan. Creating a business plan will help you achieve your entrepreneurial goals. A clear and compelling business plan provides you with a guide for building a successful enterprise focused on achieving your personal 95%(22).
Examples of the headings are set out below: The basic philosophy, what the business is all about and the key overriding goals are set out in this section. The vision deals with the bigger picture and longer term plans of the entrepreneur.
These are the statements of intent that your business is going to aim at. The broad philosophy is that there are more actions than there are objectives, more objectives than goals and so on. Whether the business will be a sole proprietorship, a close corporation, a company or a trading trust needs to be decided upon and the business arrangements need to be clarified management agreements, lease arrangements and funding options.
The market the project will be aimed at should be identified with information, if available, regarding the size of the market and expected penetration. To establish whether there is a need for more projects, such as the one you propose, it is useful to and is easiest done through a competitive analysis of potential competition.
Simply put, in the event that you wish to establish a project, the performance of the competition will be an indication of the results you can expect. You need to estimate the utilisation of your products. This will be influenced by the performance of the competition, the trend in and future expectations of the market the project will be aimed at, the fact that the project is new and starting from a zero base.
You will have to decide on a pricing structure for products your business will offer. How you intend communicating with the market needs to be formulated early on. This is where you deal with advertising, brochures, trade shows and the Internet.
The staff structure needs to be detailed, with a clear indication of what the salary levels will be. Some financial institutions are concerned with job creation and empowerment, which could mean training and the participation of previously disadvantaged people in ownership in your business.
It is useful to find out what the general requirements of specific financial institutions are, before you finalise this section.
Technical Information The technical information deals with approvals required before your business can be established, plans for buildings, cost estimates for buildings and other movable assets. It also deals with the technical team to be used and may include architects, quantity surveyors, engineers and construction companies.
Once again, some financial institutions are concerned with empowerment, which could mean the use of previously disadvantaged sub-contractors and the like. It is useful to find out what the general requirement of specific financial institutions are, before you finalise this section.
The projections should contain an income statement, cash flow statement, tax computation and balance sheet. The balance sheet needs to contain a day-one situation and thereafter year by year.
It is always advisable to detail all assumptions, as financial institutions will want to analyse the projections and even carry out their own calculations.The process of writing a business plan guides you through answering these questions so that you end up with a strategy that works for your business.
You will also end up with a plan that you can share with business partners, investors, and friends and family. Hi!
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How to Choose a Business Plan Consultant. before we went to this Business plan consultant for him to draw up a business plan for us and my mates and he charged us R then 5 days later he calls us and say his done with the business plan.
What was shocking is that we never had any talk about the business and stuffs: Entrepreneur lists.