Business Plan

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rosh77
Posts: 48
Joined: Wed Mar 09, 2016 10:47 am

Re: Business Plan

#1 Postby rosh77 » Tue Jan 31, 2017 3:00 pm

Business plan is a guide, roadmap for your business that provides directions or a detailed plan to achieve those goals.

A business plan consists of these Key Sections -

Executive summary
Business Overview
Products and Services
Industry overview
Marketing Strategy
Competitive analysis
Development Plan
Financial plan

lexoracle
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Re: Business Plan

#2 Postby lexoracle » Mon Jan 02, 2017 5:18 pm

If Setting goal for business plans, you must clarify some simple things. that you must register your business to grow in market.
Second procedure to follow some government rules.

myleastprice
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Location: Indore, MP
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Re: Business Plan

#3 Postby myleastprice » Thu Mar 17, 2016 3:33 pm

Choose an Industry-: If you want to start your business in India, the first thing that is expected of you to do is to choose an industry where you would want to build a business in. There are several highly thriving industries in India and it is expected that you decide on the industry to build your business based on your area of strength. For example, the I.T. industry is one of the thriving industries in India and there are countless numbers of business opportunities available in the industry.

Conduct Your Feasibility Studies-: Once you are able to make up your mind on the industry to build your business, the next step that you are expected to take is to conduct feasibility studies. India is a unique country when it comes to setting up businesses; a business that can thrive in one region will likely fail big time in another region. So, you are expected to conduct your own feasibility studies in the region you intend starting your own business.

Write Your Business Plan-: Irrespective of what part of the world you intend starting your business, the norm is that you are expected to write a workable business plan before launching the business. Consequently, if you are starting a business in India, you are also required to write a business plan. The truth is that without a good business plan in place, you are likely going to struggle to build a business from the scratch in India. The competition amongst entrepreneur is much in India; every business owner would want to outsmart their competitors. That is the reason why you need to draft a workable business plan that has unique business strategies.

Register Your Business-: As it is required in most countries of the world, you cannot legally operate a business in India without registering the business with the government. If you run a business that is not registered, there is a limit to the height the business can grow to. The ministry of corporate affairs is in charge of registering business in India, so you are expected to visit their office to make enquiry of the requirements needed if you want to register a new business in India. Basically there are four categories of company registration in India you will be required to choose from any of them when you want to register a new business in India. The categories are: Indian Company, Part 1 Company, Section 8 Company and Foreign Company. The various application forms are available for free download in the official website of the Ministry of Corporate Affairs, India.

Join Professional Networks-: One of the means you would need to survive as startup in India is to join professional networks. Any business built in isolation will struggle to survive in India that is the reason why people look for professional organizations and enroll as a member. The benefits you stand to gain when you join a professional network in your industry are unlimited. Thus, ensure that you look for relevant professional organizations to join once you start your business in India.

Create a Professional Website for Your Business-: The average Indians are internet savvy, so if you intend starting a business in India, you must ensure that you open a professional website for the business. When you have a professional website for your business, it makes it easier for people searching online for businesses to locate your businesses. It is also important to create a platform where people can purchase your goods online. E – Commerce is in vogue in India and if you must do pretty well with your business in India, you must create room for people to purchase your goods online and get it delivered to them.

Make Provisions for Pay Your Tax-: If you want to start a business in India, then you must make provision for paying your tax regularly. There are about 20 different taxes that people pay in India, you can contact the Central Revenue Collection agency in your region or the office of the Comptroller and Auditor General to enquire of the tax you are required to pay. India is among the countries of the world that can boast of having a well developed tax system.

anandakumarjj
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Joined: Tue Mar 01, 2016 11:56 am

Re: Business Plan

#4 Postby anandakumarjj » Tue Mar 01, 2016 1:17 pm

Hi, we are running our recruitment consultancy services. we would like to start Payroll services. Can anyone helps me in this. What are the steps to be taken to start up Payroll services?

jayprakashimtn
Posts: 92
Joined: Sun Nov 23, 2014 10:57 pm

Re: Business Plan

#5 Postby jayprakashimtn » Mon May 18, 2015 4:42 pm

The utmost important detail to keep in mind when developing a business plan, is too identify a need. You need to give a reason as to why your business is going to be successful. Actual data supported by facts can be helpful at this stage. For example to assess the demand for what your business is offering the customers you can conduct a survey on a massive scale and present the findings to support your claim that a demand exists and you're planning to fulfill it. A business plan cannot be a theoretical concept, if you want to attract investors then you have to have data to show them. Not every business needs seed money from the very beginning to exist, you can start your business on a smaller scale and collect data to present to prospective investors. If the business has been operating successfully even on a small scale, it will provide assurance to investors regarding owner's ability to run a successful business.

A business plan has to include all the aspects of running the business, you should outline your strategies and plans about how you plan to use marketing, a detailed plan about how you plan to finance the business, and the H.R. aspects of your business.
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rohitkumar11
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Re: Business Plan

#6 Postby rohitkumar11 » Fri May 15, 2015 12:46 pm

A business plan is a written description of your business's future, a document that tells what you plan to do and how you plan to do it.

Priya16
Posts: 143
Joined: Tue Apr 22, 2014 6:40 pm

Re: Business Plan

#7 Postby Priya16 » Wed May 07, 2014 1:57 pm

Business plan is the foundation on which you start a business. If you go to any investor for investment, first they want is the business plan along with the detailed project report. There are many things that should be there in a business plan .Most important being the financial part. The cost of project, profitability projection, total expenses. Other than that how are you going to do the marketing of your product. Who are your competitors, what is your USP, from where are you going to bring your supplies from? Thus, there are many things that should be included in a business plan. It should be planned out effectively. As in India the businessmen say "Mota Mota hisab". That means take a round about figures of all the things but never less should be assumed. All the details should be included, so that when you start your business you should never miss out anything and you run for things the last moment.

rinky05
Posts: 27
Joined: Mon Nov 18, 2013 3:05 pm

Re: Business Plan

#8 Postby rinky05 » Fri Apr 04, 2014 9:58 am

Planning a new business plan is not difficult but executing that business in real scenario may take huge efforts and hard work .. A deep research is required which will include the market study , competitors study , and also the forecasting for its perpetuity.
The main thing that require to start a business is good plan with its existence in reality and profit coming towards the end . The product or the service that one provides through its business should have value for the people and should also fulfill the needs of the consumers. One is also recommended while starting a new business to follow the blue ocean strategy because then untapped market can be covered and competition will also be less because if the person enters in the red ocean the level of competition is usually high and due to that the existing becomes usually difficult as the sales will divide between many players.

colecarr
Posts: 2
Joined: Thu May 16, 2013 11:07 am

Re: Business Plan

#9 Postby colecarr » Thu May 16, 2013 11:45 am

Ya I'm agree with you.

archit
Posts: 144
Joined: Thu Dec 13, 2012 4:25 pm

Re: Business Plan

#10 Postby archit » Tue Apr 23, 2013 10:01 pm

On Internet a whole list of document and reports is available which should be a part of good business plan which includes your, feasibility report...cash flow, fund flow statement... market research report.. competitive analysis...marketing plan, SWOT analysis and many more. But I strongly believe one should focus more on scenario analysis where in he should have strong back plan for pessimistic scenario...this gives lot of strength to business plan and evaluator will have clear understanding what is the action plan in worst possible scenario by presenter.


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