Your highly welcome to my blog .Here I will be giving you free lectures and strategies for "Excellent Business Plan" writing.But first we must ask our selves ,what is business plan .For easy understanding,see business plan is your compass. It is a formal statement of business goals, reasons they are attainable, and plans for reaching them. A business plan is a written description of your business's future, a document that tells what you plan to do and how you plan to do it. If you jot down a paragraph on the back of an envelope describing your business strategy, you've written a plan, or at least the germ of a plan.
Business plans are inherently strategic. You start here, today, with certain resources and abilities. You want to get to a there, a point in the future (usually three to five years out) at which time your business will have a different set of resources and abilities as well as greater profitability and increased assets. Your plan shows how you will get from here to there. May also contain background information about the organization or team attempting to reach those goals.
Business plans may target changes in perception and branding by the customer, client, taxpayer, or larger community. When the existing business is to assume a major change or when planning a new venture, a 3 to 5 year business plan is required, since investors will look for their investment return in that
timeframe.
Audience
Business plans may be internally or externally focused. Externally focused plans target goals that are important to external stakeholders, particularly financial
stakeholders. They typically have detailed information about the organization or team attempting to reach the goals. With for-profit entities, external stakeholders include investors and customers. External stake-holders of non-profits include donors and the clients of the non-profit's services.For government agencies, external stakeholders include tax-payers, higher-level government agencies, and international lending bodies such as the International Monetary Fund , the World Bank, various economic agencies of the United Nations, and development banks.
Internally focused business plans target intermediate goals required to reach the external goals. They may cover the development of a new product, a new
service, a new IT system, a restructuring of finance, the refurbishing of a factory or a restructuring of the organization. An internal business plan is often developed in conjunction with a balanced scorecard or a list of critical success factors. This allows success of the plan to be measured using non-financial measures. Business plans that identify and target internal goals, but provide only general guidance on how they will be met are called strategic plans.
Operational plans describe the goals of an internal organization, working group or department. Project plans, sometimes known as project frameworks,
describe the goals of a particular project. They may also address the project's place within the organization's larger strategic goals.
Content
Business plans are decision-making tools. The content and format of the business plan is determined by the goals and audience. For example, a business plans for a non-profit might discuss the fit between the business plan and the organization’s mission. Banks are quite concerned about defaults, so a business plan for a bank loan will build a convincing case for the organization’s ability to repay the loan. Venture capitalists are primarily concerned about initial investment, feasibility, and exit valuation. A business plan for a project requiring equity financing will need to explain why current resources, upcoming growth opportunities, and sustainable competitive advantage will lead to a high exit valuation.Preparing a business plan draws on a wide range of knowledge from many different business disciplines: finance, human resource management, intellectual property management, supply chain management , operations management, and marketing, among others.[6] It can be helpful to view the business plan as a collection of sub-plans, one for each of the main business disciplines. "... a good business plan can help to make a good business credible, understandable, and attractive to someone who is unfamiliar with the business. Writing a good business plan can’t guarantee success, but it can go a long way toward reducing the odds of failure.
Presentation
The format of a business plan depends on its presentation context. It is common for businesses, especially start-ups, to have three or four formats for the
same business plan.
An " elevator pitch " is a short summary of the plan's executive summary. This is often used as a teaser [citation needed ] to awaken the interest of potential investors, customers, or strategic partners. A pitch deck is a slide show and oral presentation that is meant to trigger discussion and interest potential investors in reading the written presentation. The content of the presentation is usually limited to the executive summary and a few key graphs showing financial trends and key decision making benchmarks. If a new product is being proposed and time permits, a demonstration of the product may be included.
A written presentation for external stakeholders is a detailed, well written, and pleasingly formatted plan targeted at external stakeholders.
An internal operational plan is a detailed plan describing planning details that are needed by management but may not be of interest to external stakeholders.
Such plans have a somewhat higher degree of candor and informality than the version targeted at external stakeholders and others.
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