How to make a “perfect” business plan? & Why make one?

Once you have your “brilliant” business idea, the next step is to form a business plan.

What is a business plan?

A business plan is basically a carefully prepared document that gives all the possible information about what is going to happen in the company that you want to start. It gathers all the information required to take decisions about the business.


Why make a business plan?

The process of planning makes you think. This makes you understand what decisions and steps need to be taken.

A comprehensive business plan gives you a better understanding of the details than would be possible if the business were just run on a day to day basis.

A well-written business plan will be very effective if you try to communicate with partners, employees, investors or venture capitalists ideas about your business.

A well thought out business plan will convince investors that you are serious. This greatly increases your credibility.

A written document is a reference to how much a business has achieved and how much it plans to achieve in the future.

In conclusion: I you are a serious entrepreneur, you have to have a business plan. If you don’t, your business will not be going in any direction in particular. You shall waste a lot of time making haphazard decisions instead of progressing.


Steps in the planning process:

The following steps are followed in the process of making a business plan:
1. Understanding your business - Situation Analysis
2. What do “you” want? – Forming Personal Objectives
4. Forming the right business objectives
5. Forming Strategies And Tactics
6. Written Document
7. Review & Control and back to Step 1

This guide takes you step by step through the entire process of forming your business plan.

Next - Understanding your business! >>


<< Previous - Is your business idea that brilliant?

Other articles YOU may like...
How to start a company?
How to make money in the stock market?
How to manage your money?
How to manage time?
How to speak English fluently?

Table Of Contents

  1. How to start a company? – Introduction
  2. Is your new business idea “really” that brilliant?
  3. How to make a “perfect” business plan? & Why make one?
  4. Business plan - Step 1 – Understanding your business!
  5.             Step 2 – What do “you” want? (Personal objectives)
  6.             Step 3 – How to form business objectives? & Why?
  7.             Step 4 – How to make the “right” business decisions?
  8.                      - Making the right legal decisions
  9.                      - Making the right production decisions
  10.                      - Making the right hiring decisions
  11.                      - Making the right inventory decisions
  12.                      - Making the right marketing decisions
  13.             Step 5 – Estimating the capital required
  14.             Step 6 – How to “draft” the perfect business plan?
  15. How to raise the capital required for your business?