Class: BA- Entrepreneurship 2010
“Criteria of an excellent business plan”
Actually before I explore more about what is criteria of an excellent business plan? And how we get it? Where our business plan seems good and will be able to be interest for the investors to invest the capital in order to make the business becoming a real. So as a young entrepreneur we are required to have the writing skill in order to make an excellent business plan. Definition of Business Plan
I have two points of view regarding the definition of business plan; first definition according to ww.wikipedia.com that,” a business plan is a formal statement of a set of business goals, the reasons they are believed attainable, and the plan for reaching those goals. It may also contain background information about the organization or team attempting to reach those goals”. And the other point of view from www.entrepreneur.com that,” a business plan is a written document describing the nature of the business, the sales and marketing strategy, the financial background, and containing a projected profit and loss statement. It is also a road map that provides directions so a business can plan its future and helps it avoid bumps in the road. The time you spend making your business plan thorough and accurate, and keeping it up-to-date, is an investment that pays big dividends in the long term”. From both of definitions above, I can take a brief that a business plan is a plan of business activities where should consists of background of the business; which aims to explain the reason of the business that will be run, marketing plan strategy; it is about 7’s P (product, price, place, promotion, people, physical evident, process) and also STPD (Segmenting, targeting, positioning, differentiation) , financial plan; consists of how much capital is required for running the business, financial report, income statement, balance sheet, and cash flow, and...