Ch-10 Business Planning Factors of A Successful Business

Ch-10 Business planning
Factors of a successful business
Business concept
Market understanding
Industry health and trends
Consistent business focus and clear strategic
position
Capable management
Ability to attract, motivate and retain employees
Financial control
Anticipating and adapting change
Companys value and integrity
Basic motivational factors:
Control
Challenge
Creativity
Cash
Business planning process

Laying out basic business concept
Gathering data on the feasibility and specifics
of concept
Focusing and refining the concept
Outlining the specifics of business
Putting your plan in compelling form
Things to remember while writing a

business plan
Limit of plan=15-30 or more pages

Limit appendices
Plans should project 3-5 years
Proper language-natural, straightforward, avoid slang.
Reduce superlatives
Use positive comments from third party
Use business terms
Use bullet style, number styles
Photographs and illustrations
Graphs and charts
Business plan components

The executive summary:
Synopsis summary: Company description, company
mission, products and services, marketing and
sales strategy, competition, target market,
management, operations, stage of development,
financials, funds sources and utilization.
Narrative executive summary: concept, background,
company, market, competitive position,
management team, future, financial, funds
sought.
Company description:
Company name, companys objectives, mission,
legal issues, products and services,
management, leadership, business location,
development stage and milestones achieved to
date, financial status, patent, licences etc.
Industry analysis and trends: description of your
industry, trends and strategic opportunities in
your industry.
Your economic sector, your industry, , size and
growth rate of your industry, industry maturity,
seasonality, sensitivity to economic cycles,
technological change, regulation and
certification, supply and distribution, financial
characterisctics,
Target market
Demographic
Geographic
Life style/business style
Psychographic
Purchasing patterns
Buying sensitivities description
Market size and trends
Industry analysis and competition
Who are competitors?

On what basis you compete?
How you compare?
Potential future competitors?
Barriers to entry for new competitors.
Point system to compare
Competitive advantages and positions
Market share distribution
STRATEGIC POSITION AND RISK

ASSESSMENT
STRENGTH AND INTEREST
INDUSTRY TRENDS AND DEVELOPMENT
MAREKT CHANGES AND OPPORTUNITIES
COMPETITIVE OPPORTUNITIES
WHAT YOU CAN DO AND YOU CANT DO
MORE THAN ADVERTISING
STRATEGIC POSITION FACTORS:
CUSTOMER PERCEPTION FACTORS, MARKET
SEGMENT, MARKET SHARE, TECHNOLOGY, SALES
CHANNELS ETC.
MARKETING PLAN AND SALES

STRATEGY
Product, price, place and promotion
Functions, finances, freedom, feelings and
future
Marketing vehicles
Be resourceful
Tactics: advertising, strategic partnerships,
special offers, premiums, sales activities,
employee training, preparing marketing
section of your plan etc.
operations
Facilities
Location
Lease
Utilities
Maintenance
Production
capacity,
Quality control
Inventory
Supply and distribution
Order management
Research and development
Financial control
Contingency planning
Technology plan
Functions
Ease of use
Cost
Security
Ability to be upgraded and expanded
Integration with existing data, tech and
systems
Management and organization
Key employees/principals
BOD
Advisory committee
Consultants and other specialists
Key management personnel
Experience, successes, education, strengths, areas
lacking strength
Management compensation
Lines of authority
Informal relationships
Management policies
csr
A good corporate citizen
Ethics
Social responsibility activities
Development, milestones and exit plan

Goals, strategies, priorities, milestones
achieved, future milestones, Risk evaluation
Exit plan
The financials
Numbers represent your decision

Financial controls
Financial statements
Staffing budget
Cash projections
Taxes
Balance sheet, income statement
Break even analysis
Assumptions on personnel, expansion, financing
and sales
appendix
Letter of intent
Endorsements
Photos
Location list
Market research results
Resumes
Work schedules
other
Putting the plan to work
Non disclosure agreement-confidential

Cover sheet
Table of contents
Date
Copy number
Disclaimer
Layout design and presentation
Typeface-palatino
Binding and report covers
Editing plan
Preparing slide

Ch-10 Business Planning Factors of A Successful Business

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Ch-10 Business planning

Factors of a successful business

Basic motivational factors:

Business planning process

Things to remember while writing a

Limit of plan=15-30 or more pages

Business plan components

Industry analysis and competition

Who are competitors?

STRATEGIC POSITION AND RISK

MARKETING PLAN AND SALES

Management and organization

Development, milestones and exit plan

Numbers represent your decision

Putting the plan to work

Non disclosure agreement-confidential

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