Many of them need product development packaging

Info iconThis preview shows page 1. Sign up to view the full content.

View Full Document Right Arrow Icon
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: .0 Market Analysis Summary 4.1 Market Forecast Market Needs 4.4 Market Analysis Target Market Segment Strategy 4.3 Start-up Market Segmentation 4.2 Start-up Competitions and Buying Patterns 5.0 Strategy and Implementation Summary 5.1 Competitive Edge 5.2 Sales Strategy Annual Sales 6.0 Monthly Sales Break-even Management Summary 7.0 Sales Forecast Financial Plan 7.1 Break-even Analysis Break-even 7.2 Projected Profit and Loss Profit and Loss 7.3 Projected Cash Flow Cash Flow Cash Flow For an example of the very early stages of a plan, review the elements of starting a business plan in the section Chapter 3: Initial Assessment. This first stage of a plan focuses only on a few starter elements. The Mission Statement, Keys to Success, Market Analysis, and Break-even Analysis give you a critical head start toward understanding your business. HURDLE: THE BOOK 4.8 ON BUSINESS PLANNING However, not all start-ups are that simple. Many of them need product development, packaging, retail fittings and signage, office equipment, websites, and sometimes months or even years of payroll before the sales start. Unless you’re wealthy enough to finance these expenditures on your own, then you’ll need to deal with bank loans or investors or both; and for that you’ll need a more extensive business plan. Start-up company or not, the plan has to meet expectations. One suggestion for getting started is to develop your plan in stages. A few key text topics might be enough to discuss the plan with potential partners and team members, as a first phase. You may then want to add a basic sales and expense forecast, leading to profit and loss, as the next phase. Adding business numbers helps you predict business flow and match spending to income. Ultimately, the choice of plan isn’t based as much on the stage of business as it is on the type of business, financing requirements, and business objective. Here are some important indicators of the level of plan you’ll need, even as a star...
View Full Document

This note was uploaded on 01/26/2014 for the course BUINESS 102 taught by Professor Unknown during the Winter '09 term at University of Phoenix.

Ask a homework question - tutors are online