A business plan is a formal written document in which we set our business goals, and how we achieve these goals and the time frame for achieving these goals. It gives background information about the nature of business, organization. This document serves as a road map that provides direction to the business
A business plan can be in the form of a document or (SOP) Standard Operating Procedure that will explain how a business or company will achieve its goals.
Why a plan is important for business: Usually people think a little bit about what they do and start a business, they do not know that business will not live on just thinking.
And you must have seen that many people stop before their business starts, the main reason is that they have no plans, no goals, no strategies. These small entrepreneurs, in particular, do so quickly and start the business very quickly.
There may be different plans for different businesses like: Assuming you have to trade vegetables, you will not need GST registration, and if you have to open a computer shop, you will have to take GST registration.
So you have to plan in different business in different ways. These are the following: But we will talk about some plans which you will be able to use in any business. lets see.
Team: In this, you have to determine who is the person who is going to run or run your business or your business or you are going to run alone.
If yes, ask yourself if we have the knowledge, time, or dedication to this business knowledge, time, or business and if you have a team, does it have the knowledge, time, dedication, Honesty, and experience It is very important to know and write. Many big companies do this work through human resource management.
Market opportunity or demand
Market opportunity or demand: You have to understand this carefully, it has done a lot of work for you, many people do not understand the demand of the market, and start a business based on their knowledge and then do not run. , Then curses on his luck and on his experience.
For example: Suppose you have both interest and knowledge in making bicycle, but at the moment there is no demand in the market, obviously if you do this business then you will not survive. You have to see what the market is giving you in this work, if you replace this bicycle with electronic, its dimand will increase in the market.
Friends, you have to think and understand in which field our experience is and what is the demand in the market, and what opportunity is that market giving you.
Understand from another example that you have experience in hotel field and you have set a market where you want to open a hotel – then first you have to know what kind of demand there is for the people there.
Such as: There are more hotels but there are many eaters, they have to stay longer, or the quality of the hotel is not good, as we are going to keep, or that food is selling very expensive, all these types of demand have to be seen. you.
And speaking of opportunity, what can you do better than better to increase the demand of those who buy. I assure you; you will rule the people and the market.
Features and benefits of your product
Features and benefits of your product- Features and benefits of your product – Here you first need to understand that the product we will sell, or make, how much will it cost and how much profit will we get in it.
And at the same time how much is the quality in it or is there no value for money for the buyer. Somewhere you are not sure if you are going to sell a product of 5 rupees for 20 rupees, and the quality is also not good, you decide that we will always sell or make good quality products.
You should never make the mistake that by imposing higher costs and coming into the competition of the market, selling the work for profit and making a loss, the business will not last long. So, take care of value for money and take care of cost, savings, and quality.
Business value: How much money do you want to start from business? See, it can have different value in different business like: If you have to do business of vegetable then you will be able to start from 500 to 1000, but if you want to do business of jewelry then you have to spend millions.
Now it is my opinion that in the initial phase, you start with very little money whether it is any kind of business, and increase it slowly and one day it will turn into a big business.
Target customer: This topic is also very important, here you have to have a goal to bring the customer to your business and to sell the product.
Are you a businessman who stays in your shop or office with newspaper throughout the day, then the business will not last long.
Suppose you are a shopkeeper, and you do not have customers coming, then you have to advertise your business and product even after sitting at your shop and watching TV, no matter what method you use; social media, mobile phone, Visiting Card etc.
If possible, meet the people, tell us that we have opened a shop, in which this is a product, etc., and keep the target that if this customer does not come then we will not sit in peace.
Marketing strategy: This is the subject of learning. There is more than a thousand strategies for marketing, which people are using, and it is being used very fast in big companies or businesses, the most popular of which is buy one get one free buy one, get another for free etc..
There are many strategies that will be learned in our blog ahead. The best strategy is that how you form and maintain a relationship with the customer will depend on you and your team’s experience.
Business competitor- See where you are going to do business, or if you are not your competitor, it is very good and if it is, then you will learn a lot from it. Such as: how does he sell his product, for how much money, how do customers come to him and so on, etc.
You would know this much if you are determined to do business. Here you have to take the challenge, and as much as you can and get ahead. If your plan is right and you are starting the business with the right loyalty, then you will definitely reach the destination. My cooperation is with you go for it now.