Irrespective of what you might need the money for, whether to start up your dream business or simply to use it to keep the business running or for purchase of assets for the business. You need to draw a business plan.
What Is A Business Plan?
It is simply a document that shows what the money requested for will be put into use as well as necessary inputs that will ensure the business achieves the objectives for its setup.
When writing your business plan/proposal, it should include the following below:
Executive summary (Mission statement):
Your executive summary is a one-page overview highlighting the business plan essentials such as nature of business, name, legal structure, amount for loan and repayment proposal.
Vision Statement For The Business.
Financing goals:
Financing goals highlight costing and estimated financial projection while competitive analysis examines the industry competitiveness relevant to the business. This will include money for capital expenditure.
Products And Services
Implementation Process.
Competitive Analysis:
You have to identify your competitors and their products and services in order to find a method to outdo them.
Market strategy:
This has to do with identifying your marketing plans and customer demographics and how you intend to enter the market. Through promotion, advertising, viral marketing i.e word of mouth.
Management and Organization:
For a Home business to succeed, there has to be a captain with the crew that will run the business effectively, irrespective of the size of the business. This is inclusive of staff thatnwould be involved even if it includes relatives.
Operation Plans:
This identifies the location, structure and regulations involved in setting up the business.
Profit and Loss Plan:
You must draw up a profit and loss account plan in order to show how much profit you will make.
Forecasting:
Finally, you should state the plans for the unforeseen and the future. Whether you intend the business to outlive you or you intend to start and later hand it over to someone else has to be put into consideration when planning your business.
These are all the main key elements that you must include in your business proposal for your first step to success in a home based business.
Till I come your way again. I remain Caroline Oguama. Your Host
www.quickhomebizideas.blogspot.com
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