Business Plan Making

Business Plan Making-7
They may cover the development of a new product, a new service, a new IT system, a restructuring of finance, the refurbishing of a factory or a restructuring of the organization.An internally-focused business plan is often developed in conjunction with a balanced scorecard or a list of critical success factors.

They may cover the development of a new product, a new service, a new IT system, a restructuring of finance, the refurbishing of a factory or a restructuring of the organization.An internally-focused business plan is often developed in conjunction with a balanced scorecard or a list of critical success factors.An "elevator pitch" is a short summary of the plan's executive summary.

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This situation is complicated by the fact that many venture capitalists will refuse to sign an NDA before looking at a business plan, lest it put them in the untenable position of looking at two independently developed look-alike business plans, both claiming originality.

In such situations, one may need to develop two versions of the business plan: a stripped-down plan that can be used to develop a relationship and a detailed plan that is only shown when investors have sufficient interest and trust to sign a Non-disclosure agreement.

A business plan for a project requiring equity financing will need to explain why current resources, upcoming growth opportunities, and sustainable competitive advantage will lead to a high exit valuation.

Preparing a business plan draws on a wide range of knowledge from many different business disciplines: finance, human resource management, intellectual property management, supply chain management, operations management, and marketing, among others. a good business plan can help to make a good business credible, understandable, and attractive to someone who is unfamiliar with the business.

This allows success of the plan to be measured using non-financial measures.

Business plans that identify and target internal goals, but provide only general guidance on how they will be met are called strategic plans.A business plan is a formal written document containing business goals, the methods on how these goals can be attained, and the time frame within which these goals need to be achieved.It also describes the nature of the business, background information on the organization, the organization's financial projections, and the strategies it intends to implement to achieve the stated targets.If a new product is being proposed and time permits, a demonstration of the product may be included.A written presentation for external stakeholders is a detailed, well written, and pleasingly formatted plan targeted at external stakeholders.Externally-focused plans draft goals that are important to outside stakeholders, particularly financial stakeholders.These plans typically have detailed information about the organization or the team making effort to reach its goals.Writing a good business plan can’t guarantee success, but it can go a long way toward reducing the odds of failure." The format of a business plan depends on its presentation context.It is common for businesses, especially start-ups, to have three or four formats for the same business plan.Banks are quite concerned about defaults, so a business plan for a bank loan will build a convincing case for the organization's ability to repay the loan.Venture capitalists are primarily concerned about initial investment, feasibility, and exit valuation.

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