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May 23

Doing a Business Plan

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Business is not always a term that just a manager of the company or a member of the Business Development must know. Otherwise, you should know how to make a business plan; it will be helpful through your career.

Besides, the success or failure of your future plans depends on the decisions that you make everyday. With a business plan, you will be able to resource and measure results, helping you to establish more realistic goals with better decisions.

  Some definitions:
  Useful to motivate employees.
  Valuable document that obtain capital and investment.
  The most important communication tool.
  Basic decisions maker.
  Beneficial tool for planning, measuring and improving performance.
  Generator of strategic vision for the company.
  Message sender, such as a communicator among employees, directors, lenders, and investors many ideas and messages, in an organized way.
  Motivation tool, which helps your to describe your vision, thus it describes what exactly you need to do, what to achieve and the direction of your goals.
  Guiding map, with a clearer vision of goals and direction of the roadmap to follow through both the good and the bad times.
  A performance tool, which will help you manage the business and work in an effective way becoming successful. Setting realistic goals and objectives, your company will guarantee its performance in the future.
  Management development instrument, a plan business you help you to develop yourself as a manager giving you practice in the resolution of any problem, concerned about competitive, promotion, and beneficial or adverse situations.
  Providing communication, a plan business must include:
    - Describing the needs and expectations of the investors and/or lenders.
    - A list of things that you are doing exceptionally well.
    - Define the customers who you are going to target.
  Try to guess. Predict the future is impossible but, always make some assumptions according to the evolution in the performance of your business's future.
  Look for support. No matter if you are going to expand your vision or just start, seeking for others’ help and agreement will be helpful for tough times.
  Detecting your vision and “Imagineering". A mix of both imagination and engineering is helpful to certainly identify your own vision planning and setting goals and objectives and how to reach them.
  Communication. One of the most important facts, which enable you to communicate with the people surround you ensuring that your co-workers dream realistically.
  Starting over again. A business plan is constantly changing so as same, you should be revising it and verifying how is going the performance of the business. Finally, when the year has gone you could check out if you did all that your plan described you would.
  “What would you do if...” Whatever your plans and objectives are, you can not guarantee safety, and there are always risks.
  1ST. Step: Objectives Identification: Establishing what you really want to do.

  2ND. Step: Business Plan Definition. Preparing the limits of your plan, according to the objectives and requirements that that you have identified. You could do it as you want to, either general or specific, but if you could do it specific you will see your writing will be easier.

  3RD. Step: Outline Review: According to your readers and objectives, you should identify all those areas that need to be detailed or in a summary form inside your business plan.

  4TH. Step: Plan writing: The following elements could vary depending on the age of the business.
    - Start by collecting historical financial information and market research information first.
    - Prepare initial outlines of your financial statements to know which strategies are double.
    - Write your Executive Summary, it is to write a resume of all of the other sections.

  5TH. Step: Plan review: Ask to some relative or close friend that knows about these terms, to review your business plan, looking for logic, effectiveness and presentation.

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