Table of Contents
The Business Plan is a map that helps to move on the right path. In order to reach the main goal, when the work depends on an accurate and clear plan, then the level of risk is little, and the action plan is defined as a strategy that seeks to provide assistance in finding solutions to problems, enhancing employee skills and increasing their focus, and often work plans do not depend on limits. A certain time.
How to prepare a business plan
Many owners of establishments and businesses are interested in preparing work plans that help the success of their business and projects. The following information is provided about the steps for preparing a business plan:
Writing a description of the main issue: providing an introduction to the main business issue and ensuring that it is balanced with the needs of management, the work environment, and employees.
Defining goals for work: It is setting a set of goals that must be achieved through the action plan, and these goals must be realistic and accept measurement.
Establishing basic strategies: It is the selection of the strategy or group of strategies that help in implementing the action plan and contribute to identifying the obstacles affecting the success of the plan, and knowing the appropriate way to manage it.
Identifying partners and clients: it is knowing who will participate in the business and identifying the people (clients) who will benefit from the work activities; Any products made.
Knowledge of resources: It is the awareness of the owner of the facility or project of the resources he needs in order for the work plan to be ready for implementation, and these resources include the work team, the financial budget worksheet, and management support.
Distribution of responsibilities and roles: It is the distribution of the facility or project owner of responsibilities among the participants in the various stages of the work plan.
Preparing a schedule: It is the schedule that determines when the actual implementation of the work will start.
Study the indicators for the success of the action plan: They are the indicators that show the extent of the success of the action plan and contribute to ensuring the success of the goals.
Business plan objectives
The action plan aims to achieve several goals, the most important of which are:
The business plan helps to reach the final decision about creating a new business, developing an existing business, or discontinuing the business idea.
The business plan contributes to identifying the difficulties and important things that the owner of the facility or project may encounter and makes him be more ready to face them.
The business plan provides support to the owner of the facility or project to avoid making mistakes; It helps to provide a description of products or services, and a definition of the feasibility of distributing or producing them within a specific geographical area, according to the size of the competition and the rate of demand.
Elements of a business plan
The business plan generally includes a set of basic elements, namely:
The executive summary: It is the first element of the work plan, but it is written upon completion of preparing this plan. Where the owner of the facility or project is aware of the nature of his products or services, the type of customers who deal with him, the nature of competition.
The financial budget allocated for the work and the executive summary also includes the name of the owner of the facility or project, the name of the facility, the purpose of its work, and a description of the nature or quality of products or services provided by the facility or project.
Sales (Marketing) plan: It is the basis for preparing and designing a business plan for the facility or project, and it contains specifications about competitors and customers, and the reasons that encourage customers to buy from the facility compared to the competing firms, and the marketing plan contains information about the marketing mix of the facility according to its products, its location, and the promotional methods and prices it follows.
Operation (production) plan: it is the plan prepared after the marketing plan has been completely prepared; Where the owners of the facility or project have been able to understand the nature of the market they are targeting to deal with, the type of services, and goods that must be provided, and the rate of demand resulting from the goods and services.
The financial plan: It is the final element within the elements of the business plan, and it contains information about the financial amounts that represent the capital used in the establishment of the project or facility, as well as information about the financial revenues that the owners of the facility expect to achieve during a certain period of time.
What Are the Benefits
The business plan brings many benefits to the owners of projects and establishments, and those responsible for planning in companies, namely:
Staying on the business strategy: It is the role of the business plan in helping the owners of the enterprises or projects to maintain their strategy.
By reducing the negative impact of the daily routine and contributing to the achievement of the main points of work.
Applying clear business goals: It is relying on the business plan to define and implement goals that are acceptable to measurements, such as producing new products and services or increasing sales.
Providing expectations to achieve the best: is to use the business plan to develop and improve the nature of expectations related to many things, such as selling costs, commercial operations, the market, and others.
Adopting logical priorities: It is the enhancement of the action plan for important priorities in the enterprise or project, such as the financial condition, management, and growth.
Realizing the interconnectedness between the work components: It is the role of the business plan in helping the owners of projects or establishments to understand the nature of the order of occurrence of things in their work, such as choosing the right time to produce a new product that matches the tests of marketing.
Staying on the right track: is to use the action plan to keep track of appointments and dates related to daily activities.
Strengthening the capacity for delegation: is the use of the action plan to clarify the nature of the responsibilities of individuals; That is, each person has his or her own mission or responsibility.