At present in all parts of the world there are infinities of people who have that concern of being a businessman who have great creativity to be exploited when carrying out that business of their dream. It is also unquestionable that many of these traders when they put their business into practice may have a failure rate at the time of their commercial exercise.
And one of the most frequent reasons for this failure to start trading is due to not thinking about the profitability and profit margin and benefits that it could offer in that area, so it is essential that when thinking about a investment Let’s study the pros and cons of the service that will be offered in the area in order to have profitability.
HOW TO DEVELOP A BUSINESS PLAN?
This business plan is about making a document in an explicit and orderly way, with certain indicative questions which will lead us to analyze the market in which we are going to develop one of the questions could be what would be the main objective of your business? What would be the potential market? What would be the capacity that we could face? What would be the products and services that would be offered to our customers.
It is essential that when developing this initial development plan and how to see what the investment will be like and know and structure how we will shape our business to position ourselves in the market and also something fundamental and important is to establish our objectives or goals to be achieved.
In the part of the money, you must strictly take into account the income of your business and the expenses that are going to be generated in said business such as (Water, electricity, gas, internet, sales costs) these expenses we must keep in mind during a long period of 12 months and we must also limit certain projections that are established for a period of 3 to 5 years. By writing and specifying all these questions, it will help us a lot to know and calculate all the expenses that starting the business will entail.
Perhaps at the time of doing the study we will realize that the profitability that our enterprise will possess and we will know an approximate time in which the business will give a profitability.
It is vitally important that if your company is going to generate employment you must master certain important details, perhaps for a micro-company with a two-page document we could possibly know it but if it is more extensive, it will be necessary to have certain external financing on hand to help us To better formalize the company if it is in this way, a more comprehensive title should be developed.
Have you ever wondered how important it is to develop a business plan?
The main importance is that it helps us focus and understand what would be the main expenses and costs that we are going to face in said trade.
When developing this plan, the amount of products that must be sold could be defined in order to obtain the effective point of sale and thus manage an exact balance (that is, to leave accounts free) and thus be able to see if the business begins to bear fruit. expected.
These tips are essential to start a business since if we do not have it well established we would be jumping into the void.
As you have a business plan developed, this will help you when requesting financing, whether it comes from a personal or bank part, you must be clear that if you do not have a well-developed plan, no person will be interested in investing in your business.
WHAT MUST INCLUDE A BUSINESS PLAN?
To develop an adequate plan you must include the following:
Describe the Company: What should be done, know the differences of your business and the competition that you are going to face, know what is the target market that we are going to face.
Executive Summary: make a very detailed plan of everything that is going to be done.
Analyze the Market: it is essential to think about the market that we are going to enter, the competition that we are going to have and analyze everything that we are going to offer.
Organization: here we must describe the way in which the company will be developed, know the shareholders and how they will be organized in the company. Something fundamental is to have an organization chart to establish functions and delegates, ask for CVs of the partners of the main officials who will be working.
Products and Services: know what we sell? The benefits it would bring to the area where we are going to work? How does it benefit competitors? We must tell our story in a real way and that when reading it is very creative and convincing for the reader.
Sales and Marketing: develop sales strategies for the products and services that we will offer? How are we going to position our products in the market?
Financing: you must leave it well expressed if your company requires help from the outside (either in terms of partners or some type of loans or merchandise to begin with) it is essential to develop all the necessary information on this financing issue.
Financing Projection: in this segment we are going to place the essential expenses that our company will have, that is, fixed expenses such as internet, water, electricity or gas if it is the case, etc. We must also bear in mind the costs of sale this is about the merchandise that you will sell and the services that you will offer.