Business plan are prepared for starting something new, it can be required both in academic and business field. Sometimes management students are required to prepare business proposals to show their creativity and ideas. Preparing a business plan required lot of creativity and brain storming. Academic Assignments is giving some valuable tips to consaltant the students and professional in writing a business plan. Business plan can only be prepared when you have a idea for implementation and business plan is a detailed document for you planning, strategy for implementation, requirements and expected outcomes from the project.
Generally business plan must include at least nine sections those sections are as follow:
Executive summary is the summary of whole report; it is like a escalator study in which the write writes the key points of the report in brief. Next is the introduction part in which the objective of writing this plan needs to be mentioned. The next point to be included is the company information; in this you must include the name of the company, the address, the operations etc. This section will contain the identity of the organisation. Then in the next section you must discuss about the products and services in which you want to deal in and the specifications about products and services needs to be given in detail.
Next you need to discuss about the industry in which you are planning to move into, the market scenario, the competitor analysis must be included with the report. Then the ownership about the company must be made clear, the members of the board and other activities must be mentioned in the report.
In the next section the marketing plan for the product or service offering must be discussed, the swot analysis, the pestle analysis, the full marketing plan must include the detail information on the four Ps of marketing. Then the financial projection need to be done in comparison to the investment required and expected revenue generation. This must include the profit and loss projection for five years, the cash flow statement and the balance sheet. The operational plan includes the functioning process of the business.
Next comes the formatting of the business plan, the plan must be presented in a professional way. Proper formatting is to be done, the font, style, size, the margins, line spacing etc must be given properly. The data included in the plan must be accurate and source of the collected data must be mentioned in the report.
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