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Everyone knows importance of creating a business plan; which is to get investment. But what many people dont know is how to create an attractive business plan.
You might have a great business idea, but thats something millions of other people have also. Many businesses in the past were started on the basis of great business ideas, but quickly vanished from the scene just because they skipped the most important step; a solid working plan! Making investor lend you a bag full of money is one reason, not the only purpose of a business plan. How you are going to utilize that money to generate revenue and compete with key players of the market is the main purpose of a business plan.
A well-crafted and researched business plan provides a clear picture of business operations and entrepreneurial skills. Investors are always interested to see how aware management team is regarding different aspects of business such as production, marketing, sales and distribution. Remember, lenders only look for three things in your business plan:
Ø How big the business opportunity is?
Ø How strong is the management?
Ø What is the return on investment?
Is your business plan answering above questions? There are many online resources such as software and sample business plan available to get you going, but you must take care in choosing the one which best suits your business requirements. However, almost every business plan comprise of some common elements such as:
1. Executive Summary: It is used to have a glance at the entire content of business plan

2. Company Overview: It provides business introduction, concept and past achievements

3. Product / Service: This section provides details of products or services in which the business is involved

4. Market Analysis: This section provides comprehensive details of market in which business is operating

5. Marketing & Sales: Marketing and sales strategies are present here that entrepreneurs are planning to implement in the market

6. Management Strength: Expertise and skills of management are presented here

7. Financial Plan: This section deals with financial and statistical information regarding business operations

By: ALI HASAN

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