A good business plan is an image that shows your dreams , and it is a detailed program of actions that you want carrying out to start developing your business . In last topic we discussed about how write a business plan for small business , but writing a business plan is not using business plan template. In fact it is the biggest concentration on goals and achievement in business model .
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There are some guidelines to write a good business plan for small business :
i. Clarity and Realistic preparation
ii. Good Market Research
iii. Real Competitor Analysis
iv. Time Management
But there are some problems in business plan that you should avoid for successful business plan . In other hand not only we should take care about guidelines but also we should avoid weaknesses in process of business plan writing . Optimistic writing is good but reality in business plan shows that you actually are thinking about your goals from different perspectives . Each perspective shows your Strengths , Weakness and view point of Opportunities and Threats .
Some studies show the evidences of business plan failure in small and medium business
1.More Focus on Future
Investment for growth is based on the future performance but future performance is based on the past track record . This means best analysis is based on the past performance and repairing the mistakes . Forecasting and more optimistic prediction is not helpful . Reality is key of success of business plan.
2. Management Inefficiency
Managerial skills are more important in start up , like a children that requires mother in childhood , a new venture requires a careful parent to utilize the resource and leading the team to the objectives . Manager plans , leads and controls activities and tries improve efficiency .
3.Aggressive Financial Strategy
A good financial strategy is based on the power of market analysis and financial performance in market , more focus on the cost and marginal revenue in start up brings you in an unlimited loop . More focus on cash flow and improving market share is better than concentrate on a marginal revenue and marginal cost.
4. More Focus on the Technology
Today technology is framework of business but more dependency on technology and automation reduce your concentration on the process efficiency . The good aspect of technology is the Analytic tools and some times in start up it is better more focus in the improving the manual process , then using technology . Technology without management and utilization is cost.
5. Improper Target Market
A good segmentation in market and target the manageable segment is better than selecting big and unknown segments . Good size segment can help to improve the Customer Care and Customer relationship Management and in result you have more customer satisfaction .
Finally we can add the Communication . Communication helps to promote your business .Lack of good communication with suppliers and customers is a draw back of your business . With out communication no business can not be alive , as before we discussed about expanding the business network to improve the business .
.
There are some guidelines to write a good business plan for small business :
i. Clarity and Realistic preparation
ii. Good Market Research
iii. Real Competitor Analysis
iv. Time Management
But there are some problems in business plan that you should avoid for successful business plan . In other hand not only we should take care about guidelines but also we should avoid weaknesses in process of business plan writing . Optimistic writing is good but reality in business plan shows that you actually are thinking about your goals from different perspectives . Each perspective shows your Strengths , Weakness and view point of Opportunities and Threats .
Some studies show the evidences of business plan failure in small and medium business
1.More Focus on Future
Investment for growth is based on the future performance but future performance is based on the past track record . This means best analysis is based on the past performance and repairing the mistakes . Forecasting and more optimistic prediction is not helpful . Reality is key of success of business plan.
2. Management Inefficiency
Managerial skills are more important in start up , like a children that requires mother in childhood , a new venture requires a careful parent to utilize the resource and leading the team to the objectives . Manager plans , leads and controls activities and tries improve efficiency .
3.Aggressive Financial Strategy
A good financial strategy is based on the power of market analysis and financial performance in market , more focus on the cost and marginal revenue in start up brings you in an unlimited loop . More focus on cash flow and improving market share is better than concentrate on a marginal revenue and marginal cost.
4. More Focus on the Technology
Today technology is framework of business but more dependency on technology and automation reduce your concentration on the process efficiency . The good aspect of technology is the Analytic tools and some times in start up it is better more focus in the improving the manual process , then using technology . Technology without management and utilization is cost.
5. Improper Target Market
A good segmentation in market and target the manageable segment is better than selecting big and unknown segments . Good size segment can help to improve the Customer Care and Customer relationship Management and in result you have more customer satisfaction .
Finally we can add the Communication . Communication helps to promote your business .Lack of good communication with suppliers and customers is a draw back of your business . With out communication no business can not be alive , as before we discussed about expanding the business network to improve the business .
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