Business plan

Starting a business is always a courageous decision. But courage is not enough to ensure the economic viability of your business. Conceived in general terms, to start and run a profitable business it is necessary to have a continous market demand, an appropriate and available technology and possibly capital to invest in your production equipment. A more detailed look at the big picture gives a business plan. It contains answers to relevant questions.

Product an services

• What the product or service is?
• What it is for?

Markets

• Who the prospective customers are?
• How many customers there are?
• Market growth rate?
• Competitors?
• Trends on the market?
• Estimated market share?

Operations

• How the product or service will be menaufactured /provided?
• Facilities/equipment?
• Special processes?
• Labour skills needed?

Channels of distribution

• How the product or service will be distributed?
• Means of transport?
• Advertising and marketing?

Management

• Who will do what?
• Staff qualifications?
• Availability of skilled labour?

Financial prospects

• Investment costs?
• Capital costs?
• Operational costs?
• Monthly turnover?
• Prospected yearly revenues?
• Tax, social and legal costs?
• Cash flow analysis?

Sources and application of funds

• Present needs?
• Future needs?
• Own funds?
• Required loans or grants?