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Business Plan

Business plans are almost universally used to secure funding for business ventures. For example, if an entrepreneur wants his/her bank to give him/her a loan to open a restaurant in the town, then he/she will need to present a business plan that outlines the expenses, goals, market analysis, target consumers and other information. Without such a document, very few investors or loan officers will consider the proposal. A business plan is also used to keep the business venture on track. An entrepreneur will be less likely to make costly mistakes along the way.

Vista Consultants help the clients in writing the complete set of business plans with thorough research. The final Business plan provided to clients may be used to apply business loans in banks.  

What is Business Plans?

A business plan is a formal statement of a set of business goals, the reasons they are believed attainable, and the plan for reaching those goals. It may also contain background information about the organization of team attempting to reach those goals. A formal business plan is just as important for an established business, irrespective of its size, as it is for a startup. It serves four critical functions as follows:
  • Helps management or an entrepreneur to clarify, focus and research their businesses or project's development and prospects.
  • Provides a considered and logical framework within which a business can develop and pursue business strategies over the next three to five years.
  • Serves as a basis for discussion with third parties such as shareholders, agencies, banks, investors etc.
  • Offers a benchmark against which actual performance can be measured and reviewed. 


Functions of Business Plan

A business plan serves to create a basic guidebook to your business. You can refer to it often as you make executive decisions and can present it to investors. As the business grows, you might want to alter your business plan to suit new directions in merchandising or to make room for expansions. This document also serves as a quality-control outline.

 

Uses of a Business Plan

Venture capital

ü Venture capital assessment of business plans - focus on qualitative factors such as team.

ü  Business plan contests - provides a way for venture capitalists to find promising projects.

ü The better the business plan, the better your chances of landing that big initial investment.

Within corporations

ü  Fundraising is the primary purpose for many business plans, since they are related to the inherent probable success/failure of the company risk.

ü  Total quality management (TQM) is a business management strategy aimed at embedding awareness of quality in all organizational processes. TQM has been widely used in manufacturing, education, call centers, government, and service industries, as well as NASA space and science programs.

ü  Management by objectives (MBO) is a process of agreeing upon objectives (as can be detailed within business plans) within an organization so that management and employees agree to the objectives and understand what they are in the organization.

Strategic planning is an organization's process of defining its strategy, or direction, and making decisions on allocating its resources to pursue this strategy, including its capital and people. Business plans can help decision makers see how specific projects relate to the organization's strategic plan.








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