Corporate Digest Magazine- October/2017 Corporate-Digest-magazine-october | Page 24

Strategy Things to considered while drafting a business plan R ibbo: Mr. Tick I want some fund for my business. Tick : How much fund you need? Ribbo : Approximately INR 5 crores. I need it urgently. Tick : Then why don't you dra a business plan for your business? Do you know purpose of a business plan? Ribbo : Of course. It has sole purpose of convincing the investors to bring money in my business. Tick : So I think you are very clear that how and where the fund will be u lized. Ribbo : Not exactly. But once I get fund I will start u lizing it. The above conversa on discloses two things- purpose of business plan and Clarity required. So entrepreneurs must understand that the sole purpose of business plan not just raising fund but it should give complete clarity of the planning. Meaning, first let us be clear about the planning and then approach any investor for raising fund. Dra ing a business plan on paper is like a tool which helps investors to understand the planning aspects. Investors are smart enough to read between the lines. Then do not invest just on the basis of business plan but the business and entrepreneur. Let us discuss that what are the things which should be considered while dra ing an impressive and logical business plan. www.Venture-Care.com/Magazine October 2017 24