Business plans

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  • Created on: 16-07-18 14:03
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  • Business Plan
    • Purpose of a Business plan
      • Used to run the business into its intended way forward - a guideline
      • Financial institution or other lender wont invest compny unless you can demonstrate that you have a roadmap to success
    • Main Sections of a business
      • Executive Summary (Overview)
      • Market Analysis (industy description, target market, market test
      • Company Description (nature, factors, product/ service meeting needs
      • Management and Organization ( ownership of company, management and board of directors/ Qualifications, experience and education)
      • Marketing and sales management (market penetration strategy, growth strategy, distribution strategy and communication strategy. Sales strategies)
    • -Easier to communicate planning -Allocate resources strategically -define and manage specific measurable objectives
    • -Could invest resources recklessly -Developing a business plan takes weeks ontop of working  -Tunnel vision; can not explore other avenues of business opportunity


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