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A business plan for a project requiring equity financing will need to explain why current resources, upcoming growth opportunities, and sustainable competitive advantage will lead to a high exit valuation.Preparing a business plan draws on a wide range of knowledge from many different business disciplines: finance, human resource management, intellectual property management, supply chain management, operations management, and marketing, among others. a good business plan can help to make a good business credible, understandable, and attractive to someone who is unfamiliar with the business.It is called an elevator pitch as it is supposed to be content that can be explained to someone else quickly in an elevator.
They may cover the development of a new product, a new service, a new IT system, a restructuring of finance, the refurbishing of a factory or a restructuring of the organization.
An internally-focused business plan is often developed in conjunction with a balanced scorecard or a list of critical success factors.
Non-disclosure agreements (NDAs) with third parties, non-compete agreements, conflicts of interest, privacy concerns, and the protection of one's trade secrets may severely limit the audience to which one might show the business plan.
Alternatively, they may require each party receiving the business plan to sign a contract accepting special clauses and conditions.
Banks are quite concerned about defaults, so a business plan for a bank loan will build a convincing case for the organization's ability to repay the loan.
Venture capitalists are primarily concerned about initial investment, feasibility, and exit valuation.
Typical structure for a business plan for a start up venture Cost and revenue estimates are central to any business plan for deciding the viability of the planned venture.
But costs are often underestimated and revenues overestimated resulting in later cost overruns, revenue shortfalls, and possibly non-viability.
This allows success of the plan to be measured using non-financial measures.
Business plans that identify and target internal goals, but provide only general guidance on how they will be met are called strategic plans.