Writing of a Business Plan 1. The time of writing a business plan depends on the experience and knowledge of the writer (entrepreneur) as well as the purpose it intends to serve. It should be comprehensive enough to give any potential investor a complete picture and understanding of the new venture The following is a simple outline of a business plan. Outline of a Business Plan i) Introducing page; o Name and address of the business o Names and addresses of the principal owners o The nature of the business o Statement of financing needs o Statement of confidentiality of the report ii) executive summary
iii) description of the venture ( business ) a. the product/services offered b. the size of the business c. the background of the entrepreneurs iv) the production plan a. the manufacturing process b. the physical plant and machinery c. the suppliers v) the marketing plan a. the pricing b. the distribution c. the promoters vi) competitors analysis vii) Management plan viii) Financial plan ix) Appendices Introductory page This is the title of cover page that provides a brief summary of the business plan’s content. The introductory page should contain the following o The name and address o The names of entrepreneurs ( Tel, Fax , Email , Box e.t.c) o A description of the company and the business nature o The amount of finance needed
o A statement of the confidentiality of the report. Executive Summary This section of the business plan is prepared after the total plan is written – normally to maximum of two pages. It should stimulate the interest of the potential investor and therefore should not be taken lightly The executive summary should be concise and convincing, addressing issues such as o The business concept or model o The unique aspects of concept o The individual starting the business o How the money will be made and how much Any supportive evidence that may give it strength are included The section is only meant to highlight factors and provide a strong motivation to the person reading the plan. Description of the Business 1. The description of the venture should be detailed so as to enable the investor to ascertain the size and scope of the business This sect ion should begin with the mission statement and vision of the business venture 118 The statement basically describes the nature of the business and what the entrepreneur hopes to accomplish The definition will guide the firm through long –term decision making After the mission statement a number of important factors that provide a clear description and understanding of the business venture should be discussed. Key elements are the 1 Products or services
The location and size of the business The history of the venture.
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- Fall '19