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Developing A Business Plan - Nelson Simon

This document provides guidance on developing an effective business plan. It explains that a business plan details a company's goals and how it intends to achieve them, and can benefit both startups and established businesses. The document recommends including finances, a summary, and reviewing the plan regularly. It also suggests getting help from professionals or government services when creating the plan.

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RAVIE LAAM
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19 views10 pages

Developing A Business Plan - Nelson Simon

This document provides guidance on developing an effective business plan. It explains that a business plan details a company's goals and how it intends to achieve them, and can benefit both startups and established businesses. The document recommends including finances, a summary, and reviewing the plan regularly. It also suggests getting help from professionals or government services when creating the plan.

Uploaded by

RAVIE LAAM
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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Developing a

Business Plan

PRESENTED BY: NELSON SIMON


What is a
Business plan?
A business plan is a document that details a
company's goals and how it intends to achieve
them. Business plans can be of benefit to both
startups and well-established companies.

Established businesses can find one useful for


staying on track and not losing sight of their goals.
This report explains what an effective business plan
needs to include and how to develop them.
Why you need a
business plan?
Whether you've just started out or have been running your
business for years, business planning can be the key to
your success. Having a business plan:

• helps you to prioritize – it gives your business


direction, defines your objectives, maps out how
you'll achieve your goals and helps you to manage
possible bumps in the road

• gives you control over your business – the


planning process helps you learn about the
different things that could affect your success.
Determine what your
plan is for
Does your business plan have more than one
purpose? Will you use it internally, or will you
share it externally, for example with potential
investors or banks?

Deciding what the purpose is, can help you


develop your plan for the right audience. If the
plan has been developed for third parties, you
will need to determine what they’ll be most
interested in.
Prepare your
Finances
Lenders and investors will want to know if your
finances are in order and your business is in a strong
financial position. They'll want to know how much
money you currently have, how much money you
need and how much you expect to make in the
near future.

While a bit of extra funding will help you ensure


you’re covered for unexpected costs, be realistic and
avoid asking for more than you need.
Write your
Summary
Summarize the main points of your business
plan using as few words as possible. You want
to get to the point but not overlook important
facts. This is your opportunity to sell yourself,
but don't overdo it. The summary should
include details about your business, market,
goals and what makes you different from
other businesses.
Get Help
Don't leave your business plan to the last minute. It takes
time, research and careful preparation to develop an
effective business plan.

If you aren't confident in completing the plan yourself,


consider getting a professional to look over it and provide
advice.

There are a number of government services available to


help you plan, start or grow your business. These services
can provide general advice, workshops, seminars and
networking events, and can even match you with a mentor
or business coach.
Review your plan
Regularly
As your business changes, your plan will need to change to
ensure your business is still heading in the right direction.
Having your plan up-to-date can keep you focused on
where you are heading.

It's a good idea to keep a record of each version of your


business plan.
Protect your Plan
Having an understanding with third parties when
distributing a plan could be enough protection for some
businesses. But if you have innovative business practices,
products or services, you may want people to sign a
confidentiality agreement to protect your innovations.
It may also be a good idea to include some words in your
plan asking the reader not to disclose the details of your
plan.
Thank you
FOR LISTENING!

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