Dear Students. Please read the following guide and watch the video and the graphics in the bottom of the page.. Then you will work in groups and you will write your business plan for our company: Herbalicious.There will be two business plans.One written by the greek team and one by the turkish team. Then we will collaborate and we will write down our common business plan. Dont hesitate to ask anything you dont understand. Your teachers!
What is a 'Business Plan'A business plan is a written document that describes in detail how a business, usually a new one, is going to achieve its goals. A business plan lays out a written plan from a marketing, financial and operational viewpoint. Sometimes, a business plan is prepared for an established business that is moving in a new direction.
Business plans can help perform a number of tasks for those who write and read them. They're used by investment-seeking entrepreneurs to convey their vision to potential investors. They may also be used by firms that are trying to attract key employees, prospect for new business, deal with suppliers or simply to understand how to manage their companies better.
------------------------------------------------------
Many young people ask how to start a business and make it work successfully.Particular recipe does not exist.But there are some guidelines that one can follow and set the right principals.
If you want to start a business then you need:
1. a business idea,
2. a management team
3. and fund (money)!!!
When these factors put into practice then you can consider that you may have a business!
But before proceed to the establishment of a new business or make a new investment, you should see if you are ready for this. If you are really ready to be an entrepreneur and take some serious risks.
So, someone who considers himself ready to make the step and wishes to open a shop or an office, it is likely to gather the necessary money, either through a loan or through a program.
So, starting your own business plan, there should be a clear and comprehensible presentation of the objectives andactivities which are needed to develop your business.
Some useful questions you can ask yourself are:
In the presentation of your business plan you can make a description of your products with particular emphasis on how they can be used. What will be the benefit to the consumers if they buy your product?
You need to show them why your product is successful in the market.
You can continue with an analysis of the market you intend to cover, specifying the target population, the consumer profile that interests you make your client, his habits and income and how much of his income he intends to allocate for your product or your service
Also a good knowledge of competition is very important for positioning your business in the market.
Since we do an analysis of our products and services, customers and our competitors, then you will describe how would you like to see your business few years later
You must refer to
1. the vision you have for your business
2. Develop a strategy and set targets.
3. At the end you have determine how to reach the desired point in the future.
4. In this point the financial planning will help you. This section should analyze the viability of the company according to the activities to be developed.
You need to calculate all the possible costs and revenues of the business to be able to make proper planning for the realization of business objectives.
The calculation of costs is made after having taken account the cost of setting up your business, the cost of purchase of equipment, operating expenses, expenses for staff salaries and working capital(fund)which is necessary for the beginning of the business.Revenues need careful assessment and calculated based on sales.
Sales projections are based on the calculation of the competitive advantages of your products, the size of the market contact, the existing competition and sales from previous years, if already running your business, or sales of similar businesses if you start now.
What is a 'Business Plan'A business plan is a written document that describes in detail how a business, usually a new one, is going to achieve its goals. A business plan lays out a written plan from a marketing, financial and operational viewpoint. Sometimes, a business plan is prepared for an established business that is moving in a new direction.
Business plans can help perform a number of tasks for those who write and read them. They're used by investment-seeking entrepreneurs to convey their vision to potential investors. They may also be used by firms that are trying to attract key employees, prospect for new business, deal with suppliers or simply to understand how to manage their companies better.
------------------------------------------------------
Many young people ask how to start a business and make it work successfully.Particular recipe does not exist.But there are some guidelines that one can follow and set the right principals.
If you want to start a business then you need:
1. a business idea,
2. a management team
3. and fund (money)!!!
When these factors put into practice then you can consider that you may have a business!
But before proceed to the establishment of a new business or make a new investment, you should see if you are ready for this. If you are really ready to be an entrepreneur and take some serious risks.
So, someone who considers himself ready to make the step and wishes to open a shop or an office, it is likely to gather the necessary money, either through a loan or through a program.
- Where is your business now?
- Where you would like to see in the future?
- How do you intend to get there?
So, starting your own business plan, there should be a clear and comprehensible presentation of the objectives andactivities which are needed to develop your business.
Some useful questions you can ask yourself are:
- Why do you think your business idea is viable?
- What products and services are you going to sell?
- Why a consumer will choose you rather than your competitors?
- What different you can offer?
- What needs of the market you intend to cover?
In the presentation of your business plan you can make a description of your products with particular emphasis on how they can be used. What will be the benefit to the consumers if they buy your product?
You need to show them why your product is successful in the market.
You can continue with an analysis of the market you intend to cover, specifying the target population, the consumer profile that interests you make your client, his habits and income and how much of his income he intends to allocate for your product or your service
Also a good knowledge of competition is very important for positioning your business in the market.
Since we do an analysis of our products and services, customers and our competitors, then you will describe how would you like to see your business few years later
You must refer to
1. the vision you have for your business
2. Develop a strategy and set targets.
3. At the end you have determine how to reach the desired point in the future.
4. In this point the financial planning will help you. This section should analyze the viability of the company according to the activities to be developed.
You need to calculate all the possible costs and revenues of the business to be able to make proper planning for the realization of business objectives.
The calculation of costs is made after having taken account the cost of setting up your business, the cost of purchase of equipment, operating expenses, expenses for staff salaries and working capital(fund)which is necessary for the beginning of the business.Revenues need careful assessment and calculated based on sales.
Sales projections are based on the calculation of the competitive advantages of your products, the size of the market contact, the existing competition and sales from previous years, if already running your business, or sales of similar businesses if you start now.