writing a Business Plan(B plan)

For anyone planning  to participate in Business plan competitions or to start a new business  it is extremely important to know how to make a business plan. A proper business plan can insure the success of a business both initially and as it continues to operate. The business plan will usually include following  elements

• Business Description ‐ This should be a summary of your mission, vision,business opportunity, product / service and business model.
• Management ‐ Indicate why your team is ideally suited to capitalize on the opportunity discussed in the business description
• Company Background ‐ Describe the process that brought to you to discovery of the opportunity and assembly of the team.
• Technology/Proprietary Rights ‐ Describe the factors that will provide your company with significant competitive barriers to entry. This can include intellectual property, trade secrets, key relationships, etc.
• Marketing, Sales and Customers ‐ Describe the size, characteristics and key trends in your market. Who are your top customers (current and/or projected ‐ be very specific)? What is your value proposition to these customers?
• Competition ‐ Who are your primary competitors and what is your key competitive position?
• Estimated Financing Sought ‐ Amount e.g., 2 crore.Do mention some Rough idea of basis of this calculation.
• Current Stage Of Start-up – concept/prototype/investment/market etc.
• Resources Required ‐ Include resources such as facilities, number of employees, special licenses or major existing customer.
• Industry ‐ List the applicable industries (e.g., telecommunications, hospital information systems, system software, real estate, etc.
  

If the plan is to do business on the highly competitive Internet then the plan must include ways to bring traffic to the website. This may call for the use of a good Search Engine Optimisation (SEO) plan..

Learning how to make a business plan should also include setting up a good Contact Management System (CMS) in order to make sure that sales leads receive the proper follow-up and that a sufficient number of sales are actually being closed. This is true whether the sales involve products or services. The business plan must also include a good analysis of everything that needs to go into the day-to-day operation of the business so that all elements continue to function efficiently.