How to Prepare a Business Plan Many business owners are interested in preparing work plans that will help their businesses succeed, and the following is information on the steps of preparing the work plan: [3] Writing a description of the basic issue: to provide a definition of the basic issue of work, Management needs, work environment, and staff. Setting goals for action: It is to set a set of goals to be achieved through the action plan, and these goals must be realistic and accept measurement.
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Develop key strategies: Choose the strategy or set of strategies that will help implement the plan of action, contribute to identifying the obstacles to the success of the plan, and find out how to manage it. Identify partners and customers: Identify who will be involved in the business, and identify the people (customers) who will benefit from the business activities; Knowledge of resources: It is the entrepreneur's understanding of the resources he needs to make the work plan ready for implementation. These resources include the working group, the financial budget, and management support. Distribution of responsibilities and roles: is to distribute the responsibilities of the establishment or project to participants in the various stages of the work plan. Setting a schedule: The schedule that determines when the actual work will begin. Study of the indicators of the success of the Plan of Action: The indicators that show the success of the Plan of Action and contribute to ensuring the success of the objectives.
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Objectives of the Plan of Action The Plan of Action aims to achieve several objectives, the most important of which are: [4] The Action Plan helps to reach the final decision about creating a new job, developing the current work or stopping the idea of work. The work plan contributes to the definition of the difficulties and important things that the owner of the establishment or project may face and makes him more willing to confront them. The plan of action provides support to the owner of the facility or project to avoid errors; it helps to describe products or services, and defines the feasibility of their distribution or production within a given geographical area according to the size of the competition and the demand rate. Elements of the work plan The work plan generally includes a set of key elements: [4] Executive Summary: The first elements of the plan of action, but written upon completion of the plan; the owner of the establishment or project is aware of the nature of its products or services, The nature of the competition and the financial budget for the work. The executive summary also includes the name of the owner of the establishment or project, the name of the establishment, the purpose of its operation and a description of the nature or quality of the products or services provided through the establishment or project. The marketing plan is the basis for the preparation and design of the business plan of the establishment or project. It contains specifications about competitors and customers, the reasons that encourage customers to buy from the establishment compared to the competing establishments.
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The marketing plan contains information about the marketing mix of the establishment according to its products , Its location, and the ways it promotes and prices. The plan is the final plan of the marketing plan. The owners of the establishment or project have been able to understand the nature of the market they are targeting, the quality of services and goods to be delivered, and the rate of demand for goods and services. The financial plan is the final element of the plan of action. It contains information about the amounts of capital used in establishing the project or establishment. It also includes information on the financial revenues that the owners of the entity are expected to achieve within a certain period of time. Benefits of the Business Plan The business plan for entrepreneurs, enterprises, and corporate planning officers has many benefits: [5] Staying on a business strategy: The role of a business plan is to help entrepreneurs or enterprises maintain their own strategy; Passive to the daily routine, contributing to the achievement of the main points of action. Apply clear business objectives: to rely on the business plan to define and implement measurable objectives, such as the production of new products and services or increased sales volume. Providing expectations for the best: is to use the business plan to develop and improve the nature of expectations for many things, such as sales costs, business processes, market, and others. The adoption of priorities characterized by logic: is to promote the plan of action of important priorities in the enterprise or project, such as financial situation, management and growth.
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Understanding the interconnectivity of business components: The role of the business plan is to help entrepreneurs or enterprises understand the nature of the order in which things occur in their work, such as choosing the right time to produce a new product commensurate with the marketing tests. Staying in the right track: Use your business plan to keep track of dates and dates associated with your daily business. Strengthening the capacity to delegate is to make use of the action plan to clarify the nature of the responsibilities of individuals; that is, each person has a specific task or responsibility. Helps to manage the team: It is the role of the work plan in the follow-up team, and study the results that are reached with expectations
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