Business Plan
Pr. Lamiae AZZOUZI
What is a Business Plan?
• The primary value of a business plan will be to
create a written outline that evaluates all
aspects of the economic viability of your
business venture including a description and
analysis of your business prospects.
preparing and maintaining a business plan is
important for any business regardless of its size
or nature. But it will not ensure your success. If
you maintain a correct assessment of the
changing economics of your business, your
plan will provide a useful roadmap as well as a
financing tool. But if you have miscalculated
the potential, then your business plan could
become a roadmap leading to failure.
Eight Steps To A Great Business Plan
• Start-up entrepreneurs often have difficulty
writing out business plans. To make it easier,
here are eight steps that will produce a
worthwhile plan:
•
• Gather all the data you can on the feasibility
and the specifics of your business concept.
• Outline the specifics of your business. Using a
"what, where, why, how" approach might be
useful.
• Include your experience, education and
personal information. The CV
• It almost goes without saying that you should not
start business within a trade or area of experience
that you are unfamiliar with.
• Experience
If you have to start out gaining basic knowledge
about your service or product along with getting to
grips with running a business it will soon become
an almost impossible task.
• If you have worked in a shop selling spare
parts to cars it is obvious that you have
advantages if you start a similar shop in
another city. E.g. you know the name of the
wholesalers and what items customers are
most likely to buy.
• However, some lines of trade are fairly easy to
learn. Starting a cleaning company or selling
pizzas can be done with very little knowledge
about the trade.
• Education
It is a great advantage if there is an
educational foundation of the competences in
the company. If you can add several years’
practical experience within the field it will take
the competence to an even higher level.
• Life experience and spare time activities are
also important parameters to review when
starting a business.
Which Personal Resources Can You Give
the company ?
Running a newly established company is a very
personal thing as its owner is typically the only
one present in the company. Therefore, it is
important to emphasise to yourself and others
alike that you do possess the capacity and
resources necessary to run a business. Be a leader
• 2 Describe Your Product or Service
The product or service you offer is the
lifeblood of your business. Thus, it is
important to analyse its various aspects.
Special attention should be paid to what the
customers demand from the product or
service.
• Be Specific About the Product You Sell
• Try to specify exactly what you are selling.
• Many companies have difficulty in telling the
public what they are selling.
Be exact
If you sell soft drinks or shoes then it is fairly
easy to state the exact product. But if you
want to sell your own developed software or
work as a consultant it sometimes can get a
bit more complicated
Consultant
•
And even, what kind of consultant exactly?
Are you a daily management, logistic,
European affairs, wedding or funeral
consultant? You can find many different
consultants, so be specific and don´t expect
others to guess the correct type.
• For example, if you are opening Café
Restaurant you could specify your product in
these categories:
• Beverage
- Soft drinks
- Tea & coffee
• Food
- Menus
- A la carte
- Snacks
Description of the Market
• Before you are able to carry out any sort of
sales or marketing action you need to identify
the market you want to penetrate. A good
marketing result requires thorough market
and customer insight.
Who are the customers ?
There are a lot of questions that could be asked in order
to establish a picture of your customer.
• How many customers can there potentially be?
• Do they live in the neighbourhood or in the urban area,
in the province, in the country, in Asia or all over the
world?
• Are they men, women, old people or children?
• What do they do in the spare time?
• What is the limit they are willing to pay for the product?
• Know your competitors in the market
In the market you also find competitors. You have
to find out what you are up against. On what
level is the quality of the competitor’s product?
What is the price? How big is their turnover?
How is their marketing and web site? How is their
product development? Where are their weak
points?
How Will You Perform Sales and Marketing
•
Sales and marketing are your tools to approach potential
customers in order to raise an interest in your product or
service. Whether to run local newspaper
advertisements, direct mails, work out an internet
solution, or attend international trade fairs, is entirely
dependent on what you sell and what customer profile
you want to approach.
• Sales make the difference
• No customers no income
The Practical Organising of your Business
You need to describe the every-day running of
your company and also take into account the
cost of arranging and running your business.
7. Budgets - Estimate Your Costs and
Income
•
Budgets are the above topics described in
economic terms. The more specific the plans,
the easier it becomes to work out budgets.
Budgets will also contribute to the
concretizing of the plans and it is ok to go back
and change plans if the budgets prove them
unrealistic.
• Establishing Budget
In order to estimate how much money you
need before the start-up of the business, you
must work out an establishing budget.
The establishing budget provides an overview
of necessary expenses incurred right up until
the business start. It is not until after start that
you will be able to gain an income.
• The operating budget provides an overview of
the costs of running your business. The
operating budget gives you an overview of the
company’s day-to-day expenses. It also gives
you a chance to calculate an estimated
turnover.
8. Financing - Where to Find the Money
•
Financing merely asks: “How do I raise the funds that I need to start my own
business?”
• Personal resources
• Families and friends
• Banks
• Public funding schemes
• Suppliers giving credits
• Investors
• Business Angles
• Venture Capitalists (VCs)
• Other
What is Your Business Concept
•
A good idea is only a good business idea if you
are able to make enough money from it for
you to live independently.
Once you have got an idea, in most cases it
needs adjusting and further development
before it turns into a commercial concept
• Making a mission statement
If you like cooking you may want to open a
stand and serve hot chicken soup at fair
prices, and if you are educated within IT and
software you may want to establish a
company specialising in relational databases.
• Look at your business from a helicopter
perspective
• Find a greater purpose with your business
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LAMITOURS
