Business Basics - The Business Plan

Business Basics

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Today´s world runs by the rules of economics. This is why I think that it´s very important for everyone to understand at least the Business Basics, like e.g. how markets or businesses work and for sure as well how to you might get your own business running.

Exactly for this reason and due to the fact that I´m already very interested in economics my whole life I want to bring some of those Details to you in the easiest and most understandable way I can come up with through my writing skills :)

Today I want to share some information with you on the very beginning of every single Business, the Business Plan!

A Business Plan - What´s that?

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Basically the name already sums it up as a Business Plan is usually a written Document, which describes how a Business plans to operate and to achieve its goals. Normally such a plan is only needed for new Startups during their search for Investors or a credit to receive the funds they need to get started transforming their idea into reality but can as well be prepared by an established Business that plans to move into another direction.

What should a Business Plan include?

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A proper Business plan should only include the most important information and this as well just in the shortest possible way as no Investor or Bank Employee likes to read through numerous pages. Within the Document one should be able to find information on the companies marketing, financial and operational viewpoint.

In case you should ever have to write one on your own, then you may now get to know which Details you might want to include into your 15-20 pages Document:

• A general Summary
  A Summary on the purpose of your Business and the further topics you´re going to outline more specific on the following pages to provide readers the whole picture from the beginning.

• A Business Overview
  The Overview on your Business should include information like the legal structure, location and the ways you plan to do business (e.g. Internet, Store, etc.)

• Products & Services
  That´s probably one of the most important Aspects as everyone will first be interested in what your business plans to offer and what value your products or services will provide to customers.

• Sales & Marketing
  A Business plan should further include some details on the Pricing and reasons, why people should actually buy your product as well as on how you want to get their attention through e.g. Marketing campaigns.

• Management
  You might be surprised, but even the best idea need a dedicated Team to make it happen. Therefore you definitely have to include some background on everyone involved in the Management Team.

• Financial Plan
  Last but not least you´ll need to include all your financial information, like e.g. on the money that´s necessary to get the business running, the amounts to keep it running over the first years and how you plan to spend your funds in Detail.

This list for sure just provides a general overview and should not be used as the only guideline to write a Business Plan. Rather further research into the topics Details will be necessary and maybe one should even consider to consult professional assistance to increase the chances on success.

You´ve got Questions?

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I don´t just want to throw all this information at you in a summarized and easily understandable way but as well provide you with answers on the questions that might arise after you´ve read my Post. So don´t be shy and leave them in a comment, so that I can get back to you ;)

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