Category: General Article

Six Stages Of Developing A Business Plan

Six Stages Of Developing A Business Plan

A business plan is a document that explains your business and how to make your business a success. Writing out a good business plan will never waste your time. Conversely, there are many benefits that you will get from a written business plan.

 

Writing a business plan can be tiring. However, this article will provide tips for you to start writing easily. That way, you are expected to continue writing and developing it as you see fit.

What are the benefits you get from a business plan?

 

Help you work smarter in considering your business details during the concept-building phase. Business plans are useful for those who are just starting a start-up, as well as for those of you who have plans to expand the business currently owned.

As a tool in sharpening the direction of your business goals and how to achieve them. In addition, the business plan also serves as a basic indicator for evaluating the progress of your business.

Anticipate the challenge and minimize the risk of failure that you will face in running your business in the future.

Save time and make your investment efficient in achieving success.

It functions as a resume when you try to get an injectable funding from the outside. Banks and investors need fact-based data that is believed to assist in their decision-making process. Having a written business plan is needed not only for the benefit of creditors and investors but also for you in order to minimize the risk of an investment failure.

As one of the management tools for your company. Running a business is a big effort that involves teamwork. It’s easy for you and your team to lose focus and unwittingly allows you to pay attention to things that do not contribute to your desired goals.

A good business plan reminds you and the team remains focused on the goals and what you need to do to achieve those goals.

A good business plan will provide the basic structure that is directed in you directing the company’s daily operations with your team so that it is not only focused but also goes in harmony in achieving targets and dealing with dynamic situations in your business environment and market situation.

 

6 stages in the process of writing a business plan.

 

Writing a business plan document is not just sitting down and then writing.

There are several steps that need to be passed, namely:

 

  1. Preparation Stages

 

This stage is the process of self-evaluation and your business idea. At this stage, you think of all the possibilities that make your business successful or not. Building a business means you need several skills such as managerial, market recognition, specific business-specific techniques/ competencies/finances, long-term vision and vision to make your business grow and succeed.

 

The preparation stage is the stage to fix your concept of business.

Some questions you can ask about your business are:

Is your idea achievable?

Is there a need for services/products that you will offer in the community?

Who are companies or entrepreneurs already in the same field, does the market make it possible to make your business grow?

What products/services will you offer?

What skills are needed to run your idea?

What is unique about your business that can be provided in the market?

How much is your financial capacity to start a business?

How do you protect your idea?

 

Some questions related to your self-analysis:

Why do you want to do business?

What is your business purpose and what does it relate to your personal goals?

What are your skills?

How much revenue do you want to earn from your business?

What are the advantages and disadvantages of starting your own business?

  1. Writing Process

After going through the preparation stage, you already have a variety of basic materials about business ideas that are ready for you to pour into a business plan format.

 

When writing business plans, there are a few things to note, such as:

Compact writing will make it easier for readers to understand the model you offer. It is important to show early how your efforts are beneficial and profitable. Use simple language.

Write down the specific thing. Your business plan document should be able to show you clearly and in detail how you are doing your business to achieve the expected goals.

Show how you understand the market: who your target customers are, how you communicate with them, who other companies are already selling similar products/services, and who your potential business partners are.

It is important to show how you understand financial management. Show how you make money and make a profit. The benefits you gain will enable you to maintain the quality of your service/product business and also enable your business to have healthy economic growth, and benefit many people.

Do not forget the look of a professional business plan design, especially if you need a cash injection from outside. Draw a design that represents the character of your business; giving the impression of interesting, easy to read, and clear the target and its purpose.

The format of a business plan varies depending on who needs it. Common business plan formats consist of:

Front cover

Executive Summary

Company profile

Market Research

Products / Services

Marketing and Sales

Financial Projection

Attachment

  1. Phase of Study

 

At this stage, you need to make time to review what has been planned and written down. Business planning is an ongoing activity that goes along with the changes and growth of your business and also takes into consideration the market situation of your industry. Repeated reviews will help you minimize errors and become one of your compasses in response to a dynamic business world.

  1. Spreading Stage

 

Business plan documents are a blueprint of how your business will run and where your business’s future goals will be. Therefore, treat your business plan as your intellectual property. In an effort to maintain fair business competition, it is understandable and advisable for you to be more selective to whom you show business plan documents. Sometimes it is necessary to avoid your competitors looking at your business plan. In connection with the deployment stage of business plan documents, several ways you need to consider are:

What are the benefits of distributing your business plan documents to others?

Make a written statement (written in the document and also by email) stating that the document cannot be circulated to a second party, without your permission.

The document you circulate should not contain in detail information about your business unless there is a partnership contract that you have mutually agreed to.

If your business is something innovative, you can take further action by registering your business as an official right of your intellectual property.

  1. Technical Assistance Phase

 

Having a business idea and trying to draw up a business plan is the first step towards realizing your business. But besides the spirit, you also need knowledge about the industry business you are interested in. You also need other skills to realize your business plan, including the skill of developing a business plan.

 

Right now the literature reference on business plan writing tips can be easily found by searching on the internet search engine. In addition to searching for internet pages, it’s a good idea to sharpen your knowledge by attending seminars or workshops, and or you ask for consulting services from a competent mentor or business counselor.

 

Examples of other help you can get through consulting services that have expertise in writing business plans. This consulting service will bring in a team of consultants to listen, ask, and then write your idea into a business plan document. If this is the way you are going, then your role is to review the business plan until you understand and believe that the business plan is in accordance with your wishes. Next get ready to run your business plan with confidence.

  1. Business Plan Compilation Steps Using Templates

You can now easily access various business plan template formats across multiple pages. Here are some tips before you choose to use an appropriate template. Do previous research and choose a template that suits your situation For whom this document is addressed Writing does not necessarily need to be followed in sequence as it is written in the template; You can start wherever you can and be relevant to your business Find help opinions or even edits for writing when you feel unsatisfied with your business plan paper writing Make sure you clearly write down the estimated or actual figures Write a summary at the end of the writing Professional front cover view Get used to doing repetitive review.

 

Hopefully, this article makes you more spirit to realize your dreams.

How Business Cards are Still Relevant Today

How Business Cards are Still Relevant Today

In today’s digital world many of us have become accustomed to sharing information and contact details through digital means. This has become quite efficient and is much simpler than carrying around a rolodex. It has also caused many to assume that business cards are no longer relevant in today’s society due to their inefficiency compared to digital sharing.

There are, however, useful applications for business cards or business labels and in many cases they can be very effective when networking or sharing business information. Due to the fact that most sharing of contact information has become digital, using a business card is much more personal.

According to entrepreneur.com “Email marketing, search engine optimization and paid media all do a great job of attracting leads and prospects, but they still aren’t as effective as an in-person meeting sealed with a handshake along with a business card exchange.”

The reason business cards are still used today, despite the digital era, is because they are still relevant and effective. They allow for a more genuine interaction and are an extension of your brand.

Effectively Using Business Cards

Many people in business have stopped using business cards because they feel they are no longer relevant but that only helps the situation. With fewer people giving out business cards, you have fewer other cards competing for your attention. If you are the only one to give a potential customer your card, it is likely to receive more attention than if that person were to receive a dozen or more cards. That being said, however, it is important that you make your business cards unique and memorable so that they stand out.

“Business cards can be a reflection of who you are. Not only can you make an excellent first impression all on your own, but a unique business card can help seal the deal and give someone something to remember you by.” – Canva.com

Making Your Business Card Stand Out

There are many ways to make your business card stand out. There are creative cut out designs, graphic designs or even materials. Some companies choose to make their business cards as a custom magnet for functionality, while some have gotten creative with their ideas by even creating edible cards to model their line of business (e.g. a bakery).

Using unique materials and shapes can also be an effective way of standing out and creating a memorable business card. You will also want to make sure that you have a design that matches your brand and contains all the pertinent information needed for contact.

Here are 50 awesome business card designs to help you build your own.