Theoretical foundations of business planning


Federal Agency for Education

Franco-Russian Institute of Business Administration

Department of Management and Entrepreneurship

Direction of training - 080500.2 - "Management"

Degree (qualification) - Bachelor of Management

final qualifying work

Topic: Development of a business plan for an enterprise.

Clothing store business plan

Footnote in St. Petersburg

Date of submission of the work: ”____” __________ 200__

Head of Department _______________________________________

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      1. Development goals and purpose of a business plan
    • 1. Business plan functions
    • 1. Stages of developing a business plan
    • 1. Business plan structure
      2. Description of the project (summary)
    • 2. Description of the company's activities
    • 2. Market and competitiveness assessment
    • 2. Fixed assets calculation
    • 2. Calculation of working capital
    • 2. Planning of turnover
    • 2. Personnel planning
    • 2. Financial plan and financing strategy
    • 2. 0 Legal aspects
      3. Identification of shortcomings in the business plan and their assessment
    • 3. Ways to improve your business plan
    • 3. Risk Assessment
    • 3. Improving the efficiency of the business plan
  • Business plan development has become one of the most successful and common forms of planning in a market economy.
  • A business plan is a document that describes all the main aspects of the future of the enterprise, analyzes all the problems that it may face, and also determines how to solve these problems. Therefore, a correctly drawn up business plan ultimately answers the question: is it worth investing in the business at all and will it bring income that will pay off all the costs of effort and money? Moreover, the more carefully it will be drawn up, the longer it will take to prepare it, but the less unnecessary costs the entrepreneur will incur in the future.
  • The purpose of this diploma project is to develop a draft business plan of the enterprise and recommendations for its improvement.
  • To achieve this goal, the following tasks must be solved:
  • 1. Give the theoretical foundations of business planning: the goals of business planning, purpose, functions and structure of the business plan.
  • 2. Describe the business plan for the project of a commercial enterprise selling food products "Vkusny Bereg".
  • 3. To develop recommendations for improving the business plan of the Vkusny Bereg enterprise: identifying shortcomings and ways to eliminate them, assessing alternatives and ways to improve the efficiency of business planning.
  • 4. Describe the importance of life safety in the work of the future enterprise "Vkusny Bereg".
  • 5. Describe the role and importance of environmental management in the activities of the Vkusny Bereg enterprise.
  • The business plan has been developed for the creation of a new subsidiary of the limited liability company "Company" BAOS-GROUP ". The new enterprise Vkusny Bereg LLC will trade in food products through a network of retail stores in the Oktyabrsky district of Novosibirsk.
  • In the course of the work, educational and special literature on business planning, enterprise economics, company finance, enterprise planning, accounting and bookkeeping, economic and financial analysis was used. Also used are the regulatory documents governing the activities of the enterprise on the organizational and legal form of the enterprise, accounting, taxation.
  • The work was done by means of Microsoft Office.
  • 1. Development goals and purpose of a business plan How to organize your business? What type of activity should you choose? Which idea to give preference to? How to accomplish what you want? How to predict the future of a particular step in business? Anyone who is going to start a new business or make an existing business more perfect would probably want to know the answers to these questions.
  • By using business planning, you can more easily implement your projects. Planning allows you to see the full range of future actions and the possible consequences of such actions and to anticipate reality.
  • What is a business plan for? In terms of content, it is a complete and accurate description of the enterprise, from the product to the management processes, as well as financial needs [8, p. five].
  • Depending on the goals, three types of business plans can be distinguished:
  • - business plan form;
  • - business plan entity;
  • - business plan understanding.
  • The business plan form is designed to carry out the presentation of the business to investors, shareholders or management. It is compiled in accordance with the requirements of partners or business participants.
  • The essence of the business plan is necessary when reflecting the processes occurring in the enterprise, and predicting the consequences of changes introduced. It reflects the content of the business process in order to identify all the features, opportunities and threats and helps to make a decision.
  • An understanding business plan is drawn up to analyze and study a new idea that involves the development and change of the enterprise. It is aimed at understanding both ongoing and planned processes, and the most complete presentation of the results of new ideas.
  • A carefully crafted business plan will not only help chart the firm's course, but will also serve as a guide to ensuring operations (this is the task the business plan will solve). Potential investors (those who provide capital) receive many requests for financing risky projects almost every day, and therefore it is necessary to provide them with information about the company and its products professionally, in accordance with a certain plan (business plan form).
  • Only a business plan prepared based on the need for information required for the proposed funding sources for a project will certainly impress capital owners in terms of planning skills. Investors will also appreciate the general competence of the head of this enterprise.
  • All other things being equal, a well-prepared business plan will always increase the chances of receiving financial support from various sources.
  • Defining the purpose of the business plan is the second important step after defining the scope of the future enterprise or project. A goal is a state of affairs, real or imagined, towards which the developer of a business plan, enterprise or project will strive. At this stage, one should not pay much attention to the feasibility of the goals set, since it is the drawing up of a business plan that should answer this question. The following is important: the goal must be unambiguous, can be broken down into subgoals, and it must correspond to the entrepreneur's intentions. If the direct participation of partners is expected in the activity, then they need to be invited at this stage to formulate goals so that they become associates in the future. In addition, it is necessary to distinguish between personal goals and business goals (for example, personal goals "enrichment" or "power" can become a powerful incentive for activity, but are unlikely to be perceived by partners or employees).
  • It is necessary to return to the formulation of the goal after the completion of the entire plan and, if necessary, correct it [8, p. 16].
  • After defining the purpose of the enterprise, you need to formulate the purpose of drawing up a business plan. This can be attracting an investor or a lender (business plan form), assessing the feasibility of a new business (understanding business plan), developing an operating plan (essence business plan), etc. Based on the formulated goal, the type of business plan is selected.
  • Significant benefits can be achieved by starting with a business plan for internal use (an entity or understanding business plan). In the process of writing it, you need to consider many issues that may never be written in an external (business plan) form. However, consumers of a business plan will be eager to ask questions related to internal business plans in order to “feel” the seriousness of the elaboration. Those who are not prepared for these issues will be at a disadvantage.
  • For example, it may turn out that the question of whether an investor is really needed or is it better to focus on increasing productivity has not been worked out. An attempt to attract an investor can be a step based on his perception of a magical Santa Claus, and not a well-considered strategic decision [8, p. 16].
  • All options and development strategy should be worked out in advance when writing an internal business plan. And if attracting an investor turns out to be justified, then both the investor and the company will have a solid basis for the transaction.
  • You can define the most important purposes of the business plan:
  • -Become a document for the construction of a new enterprise. It shows by what methods and by what means the leader is going to achieve his goals. In this case, the business plan becomes a step-by-step diary in organizing a new business.
  • -Show that the leader is endowed with a certain initiative, disciplined enough to use his energy for a specific project, and that he understands how to achieve his ultimate goal, bypassing or solving all problems and difficulties encountered on his way ...
  • -To acquaint partners, partners or existing employees with some features of the project. This will help them see in the leader not just a boss, but a colleague.
  • -Attract potential investors. After all, it is on the basis of the developed business plan that they will make decisions on financing the business.
  • -Show the capacity and development prospects of the future sales market.
  • -Evaluate the costs of producing the products needed by the market, measure them against the prices at which you can sell your goods to determine the potential profitability of the business.
  • -Discover all possible "pitfalls" awaiting a new business in the first years of its implementation.
  • -Determine the indicators by which it will be possible to regularly monitor the state of affairs and exercise management.
  • -Increase trust and respect not only from colleagues, but also from investors. The business plan will be the initial means for "selling" the idea and a summary of basic information about the enterprise when attracting investors to participate in the organization of a new business [8, p. 17].
  • It is worth noting that a business plan is usually written for the future and should be drawn up for about a period of 1 to 5 years, while for the first year, the main indicators should be done quarterly, for subsequent years - for the whole year ... In any case, the completion of the planning period must coincide with the maturity of the loan, regardless of the start date of the project. When choosing the type of business plan, it should be borne in mind that planning for a longer period is more formal and should be based on detailed research in the short term and long-term trends and prospects.
  • Unfortunately, many entrepreneurs limit themselves to writing a plan for the year, believing that the future prospects cannot be determined. This approach limits the perspective of an entrepreneur, especially since in almost all areas there are forecasts for long-term development, even in an unstable economy. Moreover, taking into account the factor of instability in future periods should not lead to blurring of statements, but to the formation of various development options and an assessment of their feasibility and survival in various conditions.
  • 1. Functions of a business plan
  • Existing approaches to business planning are aimed at performing nine main functions.
  • 1). Standard presentation of an enterprise, project. The standard presentation reduces the cost of describing the enterprise and provides more opportunity to represent the unique features of the project.
  • 2). A business plan is one of the forms of communication and presentation of information in a civilized market. Many years of experience in drawing up business plans has led to the fact that it has acquired a convenient form of information presentation. In addition, a special terminology has developed, supported by research in one area or another.
  • 3). A reasoned application for raising capital. Even if the business plan did not aim to raise capital, then its content allows you to draw up such an application without looking for new information.
  • 4). Demonstration of a solid approach to your own business. By spending efforts on drawing up a business plan, the manager thereby confirms his own respect for his business and expects the same attitude from his partners. In addition, the business plan can become an integral part of the image formation program.
  • 5). Weighted assessment of the decisions made. Answering questions when drawing up a business plan, the manager has the opportunity to comprehensively assess the entire situation and make a decision in conditions of sufficient information.
  • 6). The ability to detect problems, threats and untapped opportunities for growing businesses. Business planning technology contains a number of techniques that are of independent value, one of such techniques is the analysis of problems and opportunities.
  • 7). Ensuring business focus. The very fact of having a business plan indicates the existence of a goal to achieve which the entrepreneur strives, which greatly increases the efficiency of the business.
  • 8). Tool for management and control. The business plan is the basis for project management, primarily resources, costs, deadlines, personnel, etc. Having a plan allows you to monitor implementation and make effective decisions.
  • 9). Self-study tool. The last function on the list is actually one of the most significant, since the preparation of a business plan will force an entrepreneur to replenish his knowledge in certain sections, teach him to draw conclusions from financial information and understand the results of the analysis [8, p. 6].
  • Any of the nine functions would be enough to select a business plan as a tool for organizing and developing a business.
  • 1. Business plan development stages There are several approaches to defining development stages. Some approaches are based on a very detailed scheme for drawing up a business plan, and in this case there are a lot of stages - from 10 to 20 or more. Others are based on the allocation of large blocks in the preparation of a business plan, and in this case there are very few stages - five.
  • Two approaches can be considered: more verbose and less verbose.
  • In a more detailed approach, the business plan algorithm contains the most common stages of the new business planning process. This algorithm is also called an action plan for developing a business plan. Upon reaching a certain experience on the basis of this algorithm, you can draw up your own action plan (taking into account the specifics of the scope of the enterprise or project). However, when developing a business plan in any new field of activity, it is better to adhere to this (or similar) detailed option, since it will allow the most comprehensive study of the new object of application of forces.
  • In a detailed approach, the following stages are distinguished in the process of developing a business plan:
  • Stage 1. Decision to start a new business or start a new project or develop a new business plan.
  • Stage 2. Formation of the goal of a new business or a new project.
  • Stage 3. Formation of ideas about the business plan and its structure.
  • Stage 4. Search for sources of necessary information.
  • Stage 5. Analysis and assessment of your own potential (capabilities and abilities) to start a new activity.
  • Stage 6. Selecting an object that is the basis of a new activity (enterprise profile).
  • Stage 7. Research of a potential sales market.
  • Stage 8. Development of preliminary sales forecast.
  • Stage 9. Territorial business placement.
  • Stage 10. Development of a marketing plan.
  • Stage 11. Development of a calendar plan.
  • Stage 12. Development of the production plan.
  • Stage 13. Choice of organizational and legal form and legal status.
  • Stage 14. Development of an organizational plan.
  • Step 15. Making a decision on staff.
  • Stage 16. Development of a financial plan.
  • Stage 17. Development of a business risk insurance plan.
  • Step 18. Prepare a business summary of the business plan.
  • Stage 19. Registration of a business plan.
  • Stage 20. Presentation of the business plan.
  • Stage 21. Deciding on the start of activities [10, p. 240].
  • In the second approach, as mentioned above, larger blocks are allocated. But these blocks essentially contain the same steps as in the previous approach. This option is more suitable for an experienced user.
  • There are five stages:
  • At the first stage of preparing a business plan, the mission (philosophy, vision of the enterprise) is determined - a brief description of the business unit, its main goals, purpose, scope of activity, norms of behavior and role in solving social problems of the region, society.
  • The second step is to define the goals of developing a business plan. The goal is the future desired state of the enterprise, the motive or master of the behavior and actions of its employees.
  • In the business system, the goal performs five functions:
  • -initiatives - comparing the existing and desired state of the company, motive for action;
  • -criteria for making a decision - evaluating information and choices alternatives, priorities in business;
  • - a management tool - guiding requirements for actions, defining business areas;
  • - coordination - ensuring conflict-free relations between decision-makers, coordinating the work of specialized departments; <
  • -control - comparison of the operational state of indicators of economic activity with their target level [16, p. 26].
  • At the third stage, after defining the mission, goals, strategy of the enterprise, the general structure of the business plan itself is established. The size and structure of a business plan is influenced by the size of the enterprise and the tasks set. For small firms, they usually draw up a plan of a simplified structure - in two parts: a brief description of the project and a main part containing more detailed calculations and justifications. This structure is due to the fact that the resume is often addressed to an external consumer, to whom the entrepreneur applies with a proposal for partnership participation or a request for loans. The business plan can be divided into the following sections:
  • Cover page.
  • 1. Confidentiality Memorandum.
  • 2. Summary.
  • 3. Description of the industry.
  • 4. Characteristics of the enterprise (firm).
  • 5. The choice of activity (product, service, work).
  • 6. Marketing plan.
  • 7. Production plan.
  • 8. Organizational structure of the enterprise.
  • 9. The financial plan and budget of the enterprise.
  • 10. Risk analysis.
  • 11. Organizational plan.
  • 12. Applications.
  • The fourth stage of business planning is to gather the information needed to develop each section of the plan. This is an important and very time consuming part of the planning work. Sources of information can be specialized industry reference books, standards of design organizations, specialized firms, materials of statistical bodies, special studies and observations, knowledge of highly qualified economists, consultants, as well as employees of the enterprise who know well the internal environment of the company and their business.
  • The fifth stage of planning is the direct development of individual sections and the design of the entire business plan in the form of a single document [16, p. 43].
  • 1. Business plan structure
  • Formation of a business plan is the next step after defining the scope of activity, the purpose of the activity, the purpose of the business plan, and the name of the company or project. The business plan should be presented in a form that allows the stakeholder to get a clear idea of ​​the nature of the case and the extent of his participation in it. The business plan should be written in a simple and clear manner and have a clear structure. The volume and level of detail of the sections are determined by the specifics and area of ​​the firm. The first idea of ​​a business plan can be given by its structure, which needs to be formed.
  • There is one tried-and-true principle for any business plan: it should always be concise but competent.
  • A business plan can have the following exemplary structure.
  • 1. Cover The cover (title page) and the first page of a business plan involve the solution of two tasks: to form a good impression of the document and to record a certain minimum of information. If an entrepreneur wants to immediately win over prospective investors to himself, then he needs to pay special attention to the cover.
  • It would be better if the cover was made on good paper with the company logo. This will give the business plan some solidity. At the same time, you need to keep the cover as simple as possible.
  • The following information should be provided: information about the author, information about the company, business part (description of the goals and essence of the proposed project, potential opportunities and prospects), the amount of necessary investments - current and expected needs (project cost), confidentiality link.
  • 2. Content The content should reflect the main sections of the business plan and help prospective investors understand the essence of the entrepreneur's proposal.
  • 3. Business resume A business resume is also called a resume. This section can only be written after the completion of the business plan itself, but is usually placed at the beginning.
  • The resume is the part of the business plan, which is the first to get acquainted with and which in a certain sense is the “business card” of the whole event. In fact, this is the only part of the business plan that investors will read most carefully from "A" to "Z". It is necessary to ensure that the resume can be read in a few minutes. Moreover, if the business plan contains confidential information, then the business summary should be formulated as a sufficient document without any references so that the investor can decide on the need to familiarize himself with classified information [8, p. 19].
  • In the summary, you need to disclose the business plan in a concise form in several paragraphs:
  • Section 1. Purpose of the plan. Main goals. The purpose of the business.
  • Section 2. Business attractiveness, its unique advantages.
  • Section 3. Market analysis (characteristics of the market segment and its size).
  • Section 4. Description of the enterprise. Description of products and services.
  • Section 5. Marketing strategy. Sales strategy.
  • Section 6. Owners and managing companies.
  • Section 7. Estimates of future profits and sales.
  • Section 8. Procedures for the return of loans and credits to investors.
  • Section 9. Requirements for capital or other limited resources.
  • This summary will allow you to quickly review the entire business plan.
  • 4. General Business Situation Selected by the Entrepreneur This section prepares the reader for a better understanding of what the entrepreneur has to offer. how the enterprise fits into the big picture. What are the prospects in the industry to which the described business belongs.
  • The section should include the following items: the potential of this business (business growth opportunities), names of new products, developments and services, economic trends in the industry, prospects and trends in this industry and the economy as a whole.
  • 5. description of the enterprise When describing the enterprise, it is necessary to answer the following questions: the exact description of the enterprise, historical information about the business or product development, economic trends in the development of the industry, a description of the organizational structure of the enterprise, factors affecting the business (economic factors, seasonality, dependence on consumers or suppliers ), the nature of research and development, the presence of contracts and agreements, approaches to the implementation of production activities.
  • This section should provide the prospective investor with information on how the business in question works and why it has a unique opportunity to take its rightful place in the market.
  • 6. Market analysis In this section, you need to pay attention to the following points:
  • -economic and geographical data of the intended market, incl. size and population data;
  • - consumers of a product or service package;
  • - potential growth potential for the target market;
  • - the ability of the proposed project to meet market needs;
  • -principles of attracting new customers without losing previous ones.
  • When describing the selected market, it must be remembered that the strength of the analysis will be determined by the research conducted. To avoid wasting time, you need to use helpers such as the library, the media and the telephone. You can also use the information and statistics already available on the subject, which can be found in books and magazines.
  • 7. expected problems and measures to overcome them This section of the business plan is often absent for two reasons: the lack of standard recommendations when identifying strengths and weaknesses and the compiler's unwillingness to indicate their shortcomings and problems. This section should define the entrepreneur's contingency strategy to overcome potential obstacles. Here are some of them: legal factors (possible changes in legislation, political situation in the country), work in a competitive market (possible actions of competitors), weaknesses of this business (appearance of new products in this market, appearance of cheaper products), copyright protection and information, unforeseen circumstances related to personnel (reaction to the departure of key personnel and management), personnel problems (possible increase in the duration of work).
  • This section should reflect the fact that the entrepreneur has studied almost all the nuances of his business, and is ready to solve all the problems that may appear on his way [8, p. 21].
  • 8. Marketing plan The marketing section is one of the most important parts of a business plan, as it directly talks about the nature of the intended business and the ways in which an entrepreneur can count on success.
  • The entrepreneur must prepare a marketing plan that is capable of evoking thought. A marketing plan should not only present the concept, but “sell” the business as an attractive investment opportunity, as a credit risk with attractive prospects.
  • In addition, the section should be written in a manner that would be understandable to a wide range of people - from managers to board members of a large bank.
  • Marketing is one of the important conditions on the path of a company to success. Many firms that had a product that the consumer really wanted failed because of the wrong marketing or no marketing at all. Therefore, when evaluating a business plan, an entrepreneur must pay great attention to this particular section. If the real need for goods or services is not determined, then no talent, no capital will help the company to succeed in this area.
  • There are four key marketing points to keep in mind:
  • 1. Advertising.
  • 2. Extensive business connections.
  • 3. The art of marketing goods and services.
  • 4. Market research.
  • An entrepreneur should ask himself just one question: how is he going, without spending money on it, to convey to customers information about who he is and what services he provides or produces goods?
  • He must first review and study his market. The first rule of marketing is based on this - you need to know your market.
  • An entrepreneur must develop a flawless marketing plan and then his profits will increase. A marketing plan is a chance to show yourself in the best possible light as an entrepreneur.
  • The following issues should be carefully considered and reflected in the marketing plan:
  • 1. the marketing strategies to be used.
  • 2. Reasons for choosing each specific strategy.
  • 3. new policy of the enterprise, analysis of competitors' prices, acceptability of prices for the consumer.
  • 4. Marketing budget.
  • 5. Policy in the field of guarantees.
  • 6. Presentation and packaging.
  • 7. Qualified staff.
  • 8. Methods for studying the market reaction to a particular marketing strategy.
  • 9. approaches to comparing different marketing strategies.
  • 10. The entrepreneur's intentions regarding advertising.
  • 11. Sales promotion methods.
  • 12. The role of the media in promoting sales and the costs associated with it.
  • 9. financial forecasts This section is the backbone of a business plan, a point of reference in time. It is it that needs to be devoted to planning the financial support of the firm's activities in order to make the most efficient use of available funds. Potential investors will analyze the financial principles of the proposed project with particular care and interest.
  • It is necessary to develop a set of the following documents: operational plan (forecast) of sales, plan (forecast) for profit and loss, plan (forecast) of cash flow, forecast balance.
  • Such a list of documents is becoming familiar to Russian entrepreneurs as well, it meets the requirements of world practice. In the Russian legislation there is a steady tendency to approximate world standards [8, p. 22].
  • The duration of the scheduled reporting periods, depending on specific conditions, may vary within the following limits: month, quarter, six months, year.
  • 10. Schedule This part of the business plan most fully corresponds to the name (plan) and defines the following steps of actions:
  • 1) sets the time of expected funding;
  • 2) defines all marketing actions with reference to real calendar;
  • 3) represents the production program and delivery schedule that ensures the required sales volume.
  • It is the calendar plan that will help ensure systematic control over the activities of the enterprise. It is critical to the company.
  • The production plan takes a special place in the schedule. This section should describe all production or other work processes that take place in the firm. Here you need to consider all the issues related to the premises that the company occupies, their location, equipment, personnel. In addition, this section should pay attention to the planned use of subcontractors.
  • In addition to the production plan, the schedule must include an organizational plan. Allocation of the organizational plan into a separate section is necessary only when creating new organizations. The organizational plan should answer the following questions: the organizational structure of the project, the main functions performed by the employees, the structure of the personnel and the requirements for it. The organizational plan ends with the definition of labor costs and the maintenance of the organizational structure.
  • 11. Calculation of the need for financial resources and the effectiveness of the project
  • If the first and foremost purpose of drawing up a business plan is to obtain financial resources for a project or a new enterprise, then this section will give an accurate summary of the need for the required capital and determine the procedure for use resources. In the case of financing, cash flow calculations should also reflect the repayment of loans.
  • 12. Appendix This section of the business plan may include such documents as: text comments, bibliography, additional documents, graphs and drawings, glossary of terms, patents, licenses, copyrights and certificates.
  • Based on the knowledge of the approximate structure of a business plan, you can form your own structure of a business plan, taking into account the special requirements of potential investors, the characteristics of production or products, a unique advantage in sales, the peculiarities of the financial situation, and market characteristics.
  • 1. Taking into account the requirements of a potential investor If investors are going to cooperate, then first of all they pay attention to four sections of the business plan:
  • * management team;
  • * current and planned indicators;
  • * products;
  • * marketing plan.
  • The investor always attaches great importance to the management team - after all, it is she who makes all the vital decisions for the enterprise. Therefore, any success or failure is closely interconnected, first of all, not only with the entrepreneur himself, but also with his management team, and, accordingly, depend on her maturity, competence and the presence of common sense and experience in a particular area of ​​business.
  • The management team needs a harmonious combination of behavioral, technical and conceptual features. After all, it is they that manifest themselves when organizing production, delivering products or providing services. The management team must possess and develop skills and abilities in marketing and financial activities, in the organization of production processes.
  • The business plan needs to emphasize and reflect all the strengths of the management team. An enterprise with a strictly formalized management structure has great opportunities to earn capital and achieve its goals in a fairly short period of time.
  • 2. Accounting for the Impact of Financial Problems Running a business successfully requires identifying cash requirements and forecasting costs. You need to do a sales analysis and determine the profit goals that the entrepreneur wants to achieve.
  • You also need to make a preliminary balance - list assets and liabilities in order to produce a "snapshot" reflecting the position of the company at any time [8, p. 25].
  • It is necessary to carefully consider and plan financial forecasts that are included in the documentary part of the business plan. You need to allocate enough time to work them out. The entrepreneur (manager) must understand financial issues himself, and investors must be aware of this.
  • To avoid a situation that the investor will turn away from the entrepreneur because of his incompetence in financial matters, the following forecasts should be included in the business plan:
  • * balance;
  • * profit and loss forecast;
  • * cash flow forecast.
  • One should try to correctly calculate trading costs, not forgetting about the cost of the entire supply chain. An entrepreneur always needs to remember the answer to the question of how much his activity will cost.
  • 3. Taking into account the peculiarities of production, products and services Information about goods or services is very important if an entrepreneur wants to attract new sources of capital. Therefore, it is necessary to discuss the qualitative characteristics of goods and services and highlight their specific advantages in comparison with similar goods and services provided on the market by competitors. It is necessary to try to anticipate the reaction of consumers to the proposed product or service. The entrepreneur needs to explain how he will meet the needs and demands of his customers.
  • An entrepreneur should try to describe any unique quality characteristic that increases the cost of his product or service, and what advantage it is
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