Business Opportunity, we have to examine that there is really an opportunity for business planner in the market. The same with us that would like to have a business also have to find out, it is really an opportunity. Sometime the idea is excellent but it is not realistic. So it has to make that there is real demand and can be supply to market.
The solution and business Concept, in this topic, we must know that how they are doing the business. What is needed to operate that business? And what the main purpose of doing the business? If we would like to write a business plan, we have to have the concept of doing that business and what goal that you want to achieve by doing the business.
Marketing & Sales, All of the 3 businesses plans, there is not clear about it. They do not know about how to do marketing & sale. They may able to open their businesses. But they may fail later because they have no customer. So the marketing & sales should be clear that how they are going to promote your business and how make them buy their products.
Product development & operations, after the business has been operating for sometime, the products and service has to be developed. It is impossible to sell or service without future development for the whole life of that business. If the planners know how they will go in the future. Then they can plan their business for long term.
Legal, corporate and intellectual property issues, it is important that we have to know the law. What is the law requirement if doing that business? And other issues, such as, the patent, copyright etc. how business owner will protect their intellectual property. Do they have plan for protect the intellectual property?
Organization and structure of the enterprise, in a good business plan, the organization and structure have to be very clear about who will responsible for the work. Do they have the entire requirement for the business? For example, the HR policy, how people will be trained before doing job? What is the salary for them? Etc.
Risk and contingencies, it is usually that each business has its own risk, but do the business planner knows about that risk and how they prevent that risk. We have analyzed that what is the risk of that business? And do they notice about it?
Financial basic, in this topic, there are points to consider a good business plan, such as, profit distribution, paying dividend, cash inflow and outflow, and do they provide sufficient detail for the financial data, and sources of financial assumption. We analyze it and learn to understand what it is need in the financial part.
Detailed financial, in the detailed financial, the business planer write their business plan to make it interesting. So we have to analyze and find it that what the number doesn’t make sense. And do they give us enough information and correct information for the reader to believe. In the contrary, we also can learn to write a good business plan from this topic.
Sources of capital, it is important that business planner have the right sources of capital. Each sources of capital can give advantage and disadvantage to the business. Sometime the planner needs more or less of the capital because they do not cover the entire thing needed in that business. We have to find out that amount of money is sufficient to run that business.
A good business plan has to be written by the person who deep understanding...