statement, balance sheet and cash
flow statement.
MANAGEMENT PLAN
As the owner of the business you
will need to put into consideration
the labour laws regarding working
hours
and wages hence in this section
you indicate how many people
(staff) you will manage and their
remuneration.
SUMMARY
This is the section where you have
to briefly describe the entire
business. This includes the
mission, vision, goals and
financial projections.. Please note
that the projections should be
realistic and divide them into
short-term (from the time the
business starts), medium-term
(sis months to a year) and long
term goals ( three to ten years).
You also describe your product,
the type of business and the legal
requirements. Also explain your
SWOT (strength, weaknesses,
opportunities and threats)
analysis. You also highlight
competition and how you will gain
advantage.
MARKETING PLAN
This is the part where you
explain how you are going to
introduce your business to the
market. It is important to
describe your niche (target
market) and explain the four
Ps; product, price, promotion
and place. In that order you are
basically explaining what you
are offering, your prices, how
you will sell the product and
where you will be selling your
products from.
In this section you must put
your all and write an impressive
summary of why your business
will succeed.
SUPPORTING DOCUMENTS
These are the documents that will
give you credibility. These include
your CV, legal documentation,
quotations for purchases of
equipment and market researches.
FINANCIAL ANALYSIS
The most important part of the
plan: MONEY! This is where
you highlight your financial
needs including start-up capital
(if you already some yourself), if
you need assistances (loans,
sponsors etc.). You also drawup a pre-estimated income
Business planning tips: Get a Second (and Third) Opinion
The most experienced entrepreneur knows that they can still benefit from a different point of view.
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Groove Magazine Zimbabwe