Writing a Comprehensive Business Plan
A business plan is essential to running a successful business, and it involved more than just writing a business plan, but a comprehensive plan.A well thought business plan would consist of how to start the business, how to run the business and how to sustain the business. Thus in writing a business plan, you have to plan with what you have, forecast on what you will make in short and long term and how you will use the forecasted recourses to sustain and run the business.
In this article, we are going to highlight what you will need to write a comprehensive business plan. A good business plan should consist of the following:
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The purpose and intention of the business
Before venturing into any business, you must have a purpose as well as the intention of setting up that business. In drawing a plan for your business, the first thing to write down is the objective and intention of your business. What purpose will your business serve and the set of people you are aiming at with your business. You should also state the intention of the business and how you are going to make a profit.
Your role and positions
Your role and positions and that of other people that may be involved in the business should be stated. This will help define a clear objective and role that will enable you to avoid duplication of functions and ensure that everything runs smoothly.
It is important to set your objectives as well as what you intend to achieve in the short, medium and long-term. This will enable you to plan to reach a milestone at a particular time and that you monitor your progress with each milestone achieved. Your organization should have a short, medium and long-term goal and everyone involved in the organization should be aware of this goal set.
Result Of Researched Carried Out
Your business plan should include results of your researches you carried out, including the sources and other recommendation. This will enable you to plan for any unforeseen circumstances that may arise in the business operations. Researches will enable you to make provisions for all aspect of the business and will ensure that you learn from what others have experienced in such business ventures.
Your business plan must contain an operational plan to make it complete and comprehensive. An operational plan should state the number of people that will be working in the organization, including their roles and responsibilities. This will make it easier to plan and budget for the number of people that will be involved in running the organization.
Funding the Business
The most important aspect of running a business is the capital, and this is the last part of a business plan after you have considered other factor. After you have considered all the factors, you will be able to come up with an estimate of starting up the business and its running cost. From this estimate, you can source for the capital and funds in running the business till it will become sustainable.