Developing a Successful Business Plan

Developing a Successful Business Plan

Developing a business plan is the first step to a successful business. As you gather information, you can begin the process of writing your business plan. By planning your business needs, you will develop an essential part of the business - its strategy. Effectively completed, your business plan must identify the strengths, weaknesses, opportunities, and threats that may affect your business and the strategy you will use to succeed.
June 11, 2015
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Business:
The business portion of the business plan provides an overview of your planned business operation. You should briefly describe your product/service and how you will maintain a sustainable competitive advantage.Management:
The management plan of your business outlines the organizational structure that defines the lines of authority and the responsibilities of the key players.

Market:
The marketing plan includes information on the total market with an emphasis on your target market and how you plan to make your product/service available.

Money:
The money section of your business plan will show past, current and projected financial activity. Documents that should be included are the sources and uses of funds statement, three – year income projection and cash flow projection, notes and critical assumptions for the projections, and a break- even analysis.

Exhibits:
Include documents needed to substantiate what has been presented in the body of the plan. Examples would include resumes, purchase agreements, bids, contracts, etc.

Describe Your Business / Company Setup Dubai
Include detailed information about the overall industry and how your business will maintain a sustainable competitive advantage. Tell about your history, present status and future projections. Project a sense of what you expect to accomplish in the first years.

Describe your Product(s)
Outline your product or service in terms of marketability. Describe the purpose of your product, the need it satisfies and what makes your product unique. List future products or services you plan to provide. If manufacturing, tell all about the manufacturing process. Give a detailed description of your products from raw materials to finished items. Also describe product development and research efforts. Describe the stage of development, formal testing and alternative uses for your product. Include your quality assurance procedures. Identify your primary suppliers and alter suppliers.

Proprietary Information
Describe any specific knowledge or technology that you have and your competitors do not. Describe any efforts taken to obtain patents, copyright trademark or name registration.

Regulations
Describe any regulations that affect the sale and use of your product. Remember to check on the local, state and federal levels. Identify the agencies that must regulate your business and the potential positive or negative impact.

Management
Describe who is behind the business. For each owner, tell about his or her responsibilities and abilities. Indicate the level of knowledge and formal training in the industry. Support with resumes. Also, indicate who manages the business on a day – to – day basis, who is responsible for long-range planning and who initiates changes. Indicate how this person monitors industry trends. Be sure to indicate who has primary operational, marketing and accounting responsibilities and their qualifications to do so.

Consultant
List professionals that will provide services to your business. These include accountants, lawyers and consultants, such as pbsolutions It is easy to underestimate the need for a team of professionals that can provide your insight to management issues you don’t have time to learn. Knowledge of taxes, record keeping and legal issues can make or break a business. If you can’t afford a professional, you may need to reconsider the feasibility of your venture.

Peninsula Business Solutions ( http://www.pbsolutions.ae/our-services/ ) was established in the UK in 2004 and licensed by the UK OFT (Office of Fair Trading) to provide Consumer Credit Services. We are regulated by the OFT and follow the strict guidelines provided by the UK FSA (Financial Services Authority).

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About

Peninsula Business Solutions (PBS) Ltd was established in the UK in 2004 and licensed by the UK OFT (Office of Fair Trading) to provide Consumer Credit Services. We are regulated by the OFT and follow the strict guidelines provided by the UK FSA (Financial Services Authority). In 2007 PBS established a branch in the UAE which provided us international presence and the ability to expand and diversify our services along with our International network and affiliations. We specialise in providing high end professional consultancy on Company Registration in Dubai, company setup services across the UAE and Debt Recovery Services