Business Plans and Market Research.

Business Plan and what is this?
Business plan is map that gives an apex view of where your organisation is destined to go, in order to reach the destined point what all resources has to kept handy and ready so as to face the hurdles that your business is going to come across.
Generally people have a misconception that business plan is just written so as to get grants from a funding body( More coming on funding bodies) but  businesses need plans to streamline growth and development according to priorities. It is advisable to have the below mentioned information in the Plan for your business
  1. Executive Summary: Write this last. It’s just a page or two of highlights.
  2. Company Description: Legal establishment, history, start-up plans, etc.
  3. Product or Service: Describe what you’re selling. Focus on customer benefits.
  4. Market Analysis: You need to know your market, customer needs, where they are, how to reach them, etc.
  5. Strategy and Implementation: Be specific. Include management responsibilities with dates and budget.
  6. Management Team: Include backgrounds of key members of the team, personnel strategy, and details.
  7. Financial Plan: Include profit and loss, cash flow, balance sheet, break-even analysis, assumptions, business ratios, etc.

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