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I am glad to welcome regular readers and a new audience! Today we will continue talking about starting our own business. To help you, I offer a ready-made business plan with calculations for small businesses. And those who are used to relying on themselves will learn how to properly compose it from scratch and adapt it for a specific case. When you finish reading the article, there will be no questions left!
Key Business Plan Success Factors: Key Rules
A business plan is a document that leads an idea to its implementation in an understandable form for an entrepreneur and investors. It analyzes the situation and describes the mechanisms of the systems involved.
The following rules will be the basis for drawing up the plan:
- Be open about the current level. Employed but want to start a business? You will need to consider what you have: skills, connections, availability of start-up capital and premises - everything plays a role.
- Indicate a specific result. To start a business with the wording “I want to become rich” is to doom him to failure. Determine the market niche, profit level, turnover.
- Think over the steps that will lead to the indicated result. Be logical and do additional analysis if you are unsure of the knowledge.
Stick to these rules whether you want to impress investors or design for yourself. Constantly ask the question: "Why does business need to succeed?" The key to success can be a successful product, team qualifications, the influence of partners, etc. Having found the answer, use your advantage to the maximum, and the result will meet expectations.
Business plan structure: main sections
Are you wondering how to write business plans for your small business yourself? Maintain a clear structure so that you and your partners can navigate the document.
Cover page design
On the title page they write the name of the project, indicate the amount of investment and the expected payback period. It is appropriate to provide information about the organization: address, contact numbers, full name of the owner.
Writing a resume: briefly about the main thing
The resume is the first section of interest to potential contributors. So that the acquaintance with the project does not end there, state the essence of the idea. Emphasize goals and objectives, list the necessary resources and methods of project implementation. Be sure to highlight why the offer is unique.
What is a business plan for? The majority will probably answer - to get a bank loan. This statement is true, but only partially. First of all, the entrepreneur himself needs a plan in order to understand the size of the initial investment for the start, how long it will take to reach self-sufficiency and projected revenue indicators, to assess the level of profitability, the payback period and many other parameters.
Very often a novice businessman (and not only a beginner) does all planning and calculations "by eye" on a napkin or in his head (and sometimes he does not do it at all), forgetting about many costly articles that result in many mistakes and leads to bankruptcy.At the calculation of the wage bill does not take into account taxes and insurance contributions, the need for personnel is incorrectly calculated and many others.
A correctly drawn up business plan with detailed calculations is the key to a successful start in any entrepreneurial activity, which will allow you to cut off unfavorable options at the forecasting stage and, as a result, protect yourself from the loss of your own investments or the funds of the investor (lender).
Suppose you are planning to install, the calculation made shows that the full payback will be 5 years, it is obvious that this will not be a completely correct investment, it is unlikely that the machine will work without breakdowns for such a period of time. (For reference: the optimal payback for this type of activity is 12-18 months.)
What is better - to buy a ready-made business plan or to make one yourself? If we are talking about a small business, then we definitely need to do it ourselves. This will allow you to dive deeper into the project, understand its essence, and sort out the economics of future activities for yourself. Well, if you want to organize a production that requires multibillion-dollar investments, then you cannot do without the help of specialists.
On the site you will find samples of ready-made business models with all calculations, which you can use as a basis for drawing up a feasibility study for your specific project.
Algorithm of actions
Based on the analysis and generalization of the information received, make your own economic feasibility study of the project with the help of which you can determine the feasibility of investing funds.
Please note that you can download any business plan you like for free. If there is no download form somewhere, you can ask a question through a special form, and we will add this feature in a short time. Through this form, you can also clarify any moment regarding the described model, and we will try to find a specialist to provide competent advice on the moment you are interested in.
The starting point of a business is always the idea, the initial impulse and the desire to engage in activities that generate income. The question of which direction to choose, which business will go better, is best decided before opening your own individual entrepreneur, LLC or other legal status of the company.
Enterprising people are not inclined to develop strategies on paper, those who are familiar with drawing up the right business plan can be counted on one hand. And in vain, after all, it is this financial and economic tool that helps to calculate possible mistakes in advance, before the start of active activity.
Most people ignore the importance of developing an action plan, considering it unnecessary. However, one has to deal with situations when the owner of his own business is forced to prepare a business plan. On an urgent basis, a "plan" is thrown with ephemeral, far from reality numbers, but attractive for investors or, for example, for the credit department of a bank.
An entrepreneur who has decided to present his miracle project in this way will, at best, have a simple refusal, at worst - a damaged reputation. You shouldn't underestimate the potential of a real, well-thought-out business plan. In fact, it is needed not for investors, but for the entrepreneur himself, so as not to burn out in the very first months from the start of the business.
Procedure for developing a business plan for a small business
If you put together all the goals for which this tool is created, then the plan is based on strategic planning. Yes, it is desirable, even mandatory when opening a case. On the other hand, planning in the economy is the key moment and the key to success.
Therefore, business plans are developed not only by beginners, but also by firms that have worked for more than one year. For what? To stay afloat. As a rule, in large reputable companies, a whole department is engaged in planning. Having ready-made figures of the company's work over the past years, it is much easier to analyze and make plans than to pioneers.
So, let's try to explain where to start and how to end. Let's agree that the business plan is used as a business concept. This means that you need to work out the following key points:
- - why the business is being created;
- - what is the result of expectations;
- - management potential;
- - flexibility of the model;
- - exposure to external factors;
- - financial stability;
- - competitiveness.
How to draw up a business plan for a small business
The business plan of the company contains goals and plans for which a time frame is set. You shouldn't rush here, so as not to draw castles in the air. The tasks should be realistically achievable and at the same time a little ambitious.
It is important for potential investors to see the potential of the business and the results of the company's activity, if it has been operating for several years.
Hello, dear readers of the online magazine about money “RichPro. u "! This article will discuss how to write a business plan. This publication is a straightforward step-by-step guide to turn a raw business idea into a confident step-by-step plan for a clear task.
- What is a business plan and what is it for;
- How to draw up a business plan correctly;
- How to structure and write it yourself;
- Ready-made business plans for small businesses - examples and samples with calculations.
At the end of the topic, we will show the main mistakes of beginner entrepreneurs. There will be a lot of arguments in favor of creating a high-quality and well-thought-out business plan that will bring the realization of your idea and the success of the business in the future.
Also, this article will provide examples of finished works, which you can simply use, or you can take as a basis for developing your project. Ready-made examples of the presented business plans can be downloaded free of charge.
In addition, we will answer the most frequently asked questions and clarify why not everyone writes a business plan, if it is so necessary.
The structure of a business plan and the content of its main sections - a step-by-step guide to writing it
Conclusion + video on the topic ????
For every entrepreneur who wants to develop himself and develop his business, a business plan is very important. It performs many important functions that no other person can do otherwise.
With its help, you can get financial support and open, develop your business much earlier than you can collect a significant amount for the business.
Most of the investors react positively to a good, well-thought-out business plan written without mistakes, as they see this as a way of making money quietly with all the invented and described troubles.
Besides, even before the opening of the establishment, you see what awaits you. What risks are possible, what solution algorithms will be relevant in a given situation. This is not only favorable information for the investor, but also the necessary plan if you get into trouble yourself. In the end, if the calculation of risks turns out to be too daunting, you can redo a little, transform the general idea to reduce them.
Creating a good business plan is an excellent solution for finding investment and developing your own algorithms for action even in the most difficult situations, which are more than enough in business.
Not a single entrepreneurial project can do without a business plan. This document is a detailed instruction for starting a commercial business, where tasks that need to be solved in order to achieve the final goal (that is, to obtain maximum profit), as well as the methods and means that the entrepreneur is going to use, are described step by step. Without a business plan, it is impossible neither to obtain investments in a commercial project, nor to apply to a bank for a loan for business development. However, even if an entrepreneur does not plan to attract third-party funds, he still needs a business plan - for himself.
Why is this document needed, and what is its extreme importance? A well-written business plan, which contains verified information and verified figures, is the foundation of a commercial project. It will allow you to analyze in advance the state of the market and the severity of competition, predict possible risks and develop ways to minimize them, assess the size of the required start-up capital and the total amount of capital investments, as well as the expected profit - in short, find out whether it is advisable to take financial risk and invest in this idea. ...
The basis of any project is a business idea - what, in fact, everything is intended for. An idea is a service or product that will bring profit to an entrepreneur. The success of a project is almost always determined by choosing the right idea.
- Which idea is successful?
The success of an idea is its potential profitability. So, at each time there are directions that are initially favorable for making a profit. For example, some time ago it was fashionable to import yoghurts into the Russian Federation - this product instantly gained popularity among the population, and the number of importing firms grew in proportion to this popularity. Only a completely unlucky and incompetent entrepreneur could fail a project in this area and make the business unprofitable. Now, the idea of selling yoghurts will most likely not be successful: the market is already oversaturated with domestically produced products, imported goods are unlikely to be favorably accepted by consumers due to the high price and customs difficulties, besides, the main players in this segment have already established themselves in the market and established supply and distribution channels.
Most entrepreneurs, choosing an idea for making a profit, think in terms of the majority - they say, if this business brings income to my friend, then I will be able to organize my business. However, the more “role models” there are, the greater the level of competition and the less opportunity to dictate their prices. In mass business, approximate prices have already been set, and a newcomer, in order to increase his competitiveness, has to set prices below market prices in order to attract customers - which, of course, does not contribute to obtaining large profits.
Potentially highly profitable ideas now are those proposals that help an entrepreneur to occupy a free market niche - that is, to offer something that other businessmen have not yet thought of. To find an original business idea, sometimes it is enough to look around and think about what consumers are missing in a certain area. So, a successful idea was the production of mops that allow you to wring out a rag without getting your hands wet, or special lamps that cannot be dismantled without the use of special tools - this know-how has significantly reduced the number of thefts of light bulbs in the entryways.
Often, original ideas do not even need to be generated on your own - you can use new products that are successfully implemented in other countries or cities, but have not yet occupied the corresponding market niche in your region. By following this path, you will be the first to offer this know-how to consumers in your region or country, which means that you will be able to set prices for this product (service).
However, originality alone is not enough for a successful business idea. There are two objective prerequisites for a business to be successful:
- - a potential buyer feels the need for your product, or at least understands its usefulness (for example, a person may not yet know about a certain medicine, but he realizes that something similar is capable of cure his illness);
- - the buyer is ready to pay for your product or service) exactly the price that you plan to ask for (for example, almost everyone wants to buy a car - however, as we know, a car is far from affordable to each).
And one more note about innovative business ideas - excessive originality can only hurt profitability, since the potential audience may simply not be ready for your proposal (most consumers are conservative by nature and hardly change their habits). The least risky option is to stick to the golden mean - that is, to bring to the market already familiar goods or services, but in an improved form.
- How to determine if a given business idea is right for you?
Even a potentially successful business idea may not turn out to be so in practice if it does not suit a particular entrepreneur. So, opening a beauty salon is relatively easy - but if you don't understand the intricacies of the salon business, then your brainchild is unlikely to bring you a good profit. A business idea must necessarily be supported by the entrepreneur's experience, knowledge and, of course, opportunities. What indicators indicate that your project will be within your reach?