Strategy
Organiza onal descrip on
This is all about the organiza onal structure and unique factors which compe tors do not have. Whether there is plan to have pvt ltd or LLP or any other structure for the business. Has the business idea been conceived by a single person or more people are involved. Whether there is single decision authority etc. in nut shell, the following ques ons may be important to be considered: What is the legal status of the company and future plan? How many are key decision makers? How many managers are required( opera onal segment-wise) How many technical personnel are required? How many sales personnel are required? What is the plan to increase the number of personnel in next 12 months?
Product and services
What is marketed are actually products and services. This sec on should comprehensively include even the small aspects related to products / services.“ What is the USP of the product and how it serves the exact need of the customers” should be very clearly men oned. If services are a ached with the product then focus should be highligh ng the add-on benefits which customers will derive.
Every product has life. The sec on must men on the approximate product life. Also, how the company will plan with the new or modified product with extended or with at least earlier similar benefits. Few ques ons which draw a en ons are: Is it standard product or customized one? If it is standard product and any customer wishes to add some more features then is it possible? Whether IP has been taken on the product? How product maturity shall be tackled? What will be the R & D cost and maintenance to the business?
Industry
Industry dynamics always change. Business plan must include the probable changes and the way to overcome those changes. Key success factors should be iden fied and should be men oned that how the company will go forward.
The complete industry should be categorized into segments and sub-segments and accordingly the customers should be iden fied. This sec on must include also:
Who are the targeted customers?
Marke ng
What is the size of the targeted customers? Who are the compe tors?( in numbers) What is the expected market share for this product / service?
Many business plans usually say that what marke ng channel shall be used to market products / services. But a sound and explanatory business plan should clearly express that HOW MARKETING WILL BE DONE, WHICH CHANNEL SHOULD BE ADOPTED AND THE EXPECTED TANGIBLE BENEFITS WHICH THE COMPANY WILL DERIVE FROM IN TERMS OF GROWTH OF CUSTOMERS.
www. Venture-Care. com / Magazine October 2017
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