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    Business Plan

    Uploaded by

    Abhay Chaturvedi

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd

    Business Plan

    Uploaded by

    Abhay Chaturvedi
    2 views3 pages

    Copyright

    © © All Rights Reserved

    Available Formats

    DOCX, PDF, TXT or read online from Scribd

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    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    2 views3 pages

    Business Plan

    Uploaded by

    Abhay Chaturvedi

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    of 3

    Business Plan:Formal document outlining business goals, strategies, market, financials, operations.

    Who Reads It?


     Investors: Profitability, return on investment.
     Lenders (Banks): Financial viability, loan repayment.
     Partners/Stakeholders: Growth potential, strategic fit.
     Employees/Management: Vision, strategies, roles.
    What Are They Looking For?
     Goals & Vision: Clear objectives, long-term vision.
     Market Analysis: Understanding market, audience, competition.
     Financial Projections: Profit forecasts, cash flow, sustainability.
     Feasibility & Risks: Plan execution, risk management.
     Scalability: Potential for growth.
    Importance of Conventional Structure:
     Ease of Review: Quick access to key info.
     Professionalism: Enhances credibility.
     Clarity & Focus: Covers essential sections clearly.
     Comparability: Easier to compare with other businesses.

    Entrepreneurship vs. General Manager (Restaurant) - Key Differences


    1. Ownership:
     Entrepreneur: Owns, bears all financial risks.
     General Manager: Works for owner, no financial risk.
    2. Decision-Making:
     Entrepreneur: Full control over decisions.
     General Manager: Follows corporate guidelines.
    3. Innovation:
     Entrepreneur: Focus on innovation and growth.
     General Manager: Focus on efficiency and standards.
    4. Motivation:
     Entrepreneur: Build and grow the business.
     General Manager: Career advancement.
    5. Financial Responsibility:
     Entrepreneur: Manages all finances.
     General Manager: Works with pre-set budgets.
    Techniques for Identifying New Ideas (Entrepreneurs):
    1. Market Research: Study customer needs, trends, market gaps.
    2. Brainstorming: Generate creative ideas, often in teams.
    3. Customer Feedback: Listen to suggestions and complaints for new ideas.
    4. Competitor Analysis: Identify competitors' weaknesses or unmet needs.
    5. SWOT Analysis: Assess strengths, weaknesses, opportunities, threats for innovation.
    Types of Entrepreneurs:
    1. Innovative Entrepreneurs:
     Create new products/services.
     Focus on innovation and R&D.
     Example: Steve Jobs (Apple).
    2. Imitative Entrepreneurs:
     Copy/adapt successful models.
     Focus on proven ideas.
     Example: Sam Walton (Walmart).
    3. Fabian Entrepreneurs:
     Risk-averse, adopt changes slowly.
     Stick to traditional practices.
    4. Drone Entrepreneurs:
     Resist change, use outdated methods.
     Often face business decline.
    5. Social Entrepreneurs:
     Focus on solving social/environmental problems.
     Goal: Positive societal impact.
     Example: Muhammad Yunus (Grameen Bank).

    Factors Affecting Entrepreneurial Growth:


    1. Economic Factors:
     Access to capital, financial institutions, credit.
     Interest rates, taxation policies, infrastructure.
    2. Social Factors:
     Cultural values, social acceptance, education, family background.
    3. Government Policies:
     Tax incentives, grants, ease of doing business, subsidies.
    4. Technological Factors:
     Availability of technology, internet, AI, automation.
    5. Environmental Factors:
     Geographic location, natural resources, market proximity.
    Entrepreneurial Competencies:
    1. Risk-taking: Calculated risks, managing potential rewards and losses.
    2. Innovativeness: Spot new opportunities, offer unique products.
    3. Decision-making: Quick, sound decisions under pressure.
    4. Leadership: Motivate teams, communicate goals, manage teams.
    5. Persistence: Overcome challenges, show resilience.
    Process to Develop Entrepreneurial Competencies:
    1. Self-assessment: Evaluate strengths/weaknesses.
    2. Learning & Training: Formal education, workshops, certifications.
    3. Practical Experience: Small projects, internships, side businesses.
    4. Feedback & Reflection: Learn from mentors, peers, and past experiences.
    5. Networking: Build connections for learning, collaboration, partnerships.

    Entrepreneurship Development Program (EDP):


    1. Identification of Potential Entrepreneurs: Aptitude tests, self-assessment.
    2. Skill Development: Training in business planning, finance, marketing.
    3. Business Planning: Create business plans, market research, cost estimates.
    4. Support & Mentorship: Ongoing guidance from entrepreneurs, experts, investors.
    5. Post-Program Support: Networking, financial aid, incubation services.
    Organizational Feasibility Analysis:
    1. Management Team: Evaluate skills, experience, leadership.
    2. Resources: Assess availability of physical, human, financial resources.
    3. Business Structure: Review roles, responsibilities, operational processes.
    4. Partnerships: Check for reliable suppliers, alliances, external support.
    Ensures internal capabilities/resources can effectively implement the business idea.
    Importance of Industry Analysis (New Firm):
    1. Understand Market Dynamics: Customer demand, growth potential, trends.
    2. Identify Opportunities & Threats: Spot opportunities, assess competition, regulatory risks.
    3. Competitive Advantage: Find market gaps for differentiation.
    4. Resource Allocation: Guide decisions for efficient resource focus.
    5. Risk Management: Plan strategies to mitigate industry risks.

    How to Conduct Industry Analysis:


    1. Porter’s Five Forces: Analyze rivalry, new entrants, substitutes, buyer/supplier power.
    2. SWOT Analysis: Assess strengths, weaknesses, opportunities, threats.
    3. PEST Analysis: Review political, economic, social, technological factors.
    4. Competitor Analysis: Study competitors' strengths, market share, strategies.
    5. Market Trends & Reports: Review industry reports, market studies, and trends.
    Helps firms make informed strategic decisions.

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