LECTURE 2 - THE BUSINESS PLAN
steven.reynolds
Created on January 26, 2024
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NEW VENTURE PLANNING
LECTURE 2
OBJECTIVE
UNDERSTANDING THE COMPONENTS OF A BUSINESS PLAN
All businesses, big and small, established or soon to start, need to know where they are going, both commercially and financially over the coming months and years. The easiest way to achieve that know-how is to put together a business plan.
WHY A BUSINESS PLAN
THE BUSINESS PLAN
A business plan is a document that sets out what the business does, or plans to do, where it wants to go, and how it is going to get there, and when. In many ways, it provides a summary of where you want it to be and a framework for going from ‘here’ to ‘there’ successfully.
WHY A BUSINESS PLAN
THE BUSINESS PLAN
KEY FEATURES
A BUSINESS PLAN
WELL RESEARCHED
ATTRACTIVE
UNDERSTANDABLE
REALISTIC
WELL SUPPORTED
A successful business plan is researched fully, and is only completed once all the commercial, financial and supporting information that may need to be included in it has been gathered together. The plan should create the strong impression that the writer knows everything there is to know and can prove it with independent, backup information.
PRINCES TRUST
EXAMPLES
BUSINESS GATEWAY
TODAYS TASKS
1. UNDERSTAND THE SECTIONS OF THE BUSINESS PLAN2.CREATE A PLAN OF HOW YOU ARE GOING TO TACKLE THE PLAN AND TIMELINE3. START!