What is Business Plan definition/concept

To put into practice a new project in the job market or to reach an existing business , it is important to prepare a strategy in advance. This strategy is known as a business plan.

It is not simply a document , it must be understood as a process by which those responsible for the business think about carrying out a viable and profitable project.

The process of preparing a business plan and the importance of the marketing plan

The fundamental idea of ​​any business plan is simple: systematically analyze an initial idea. In this way, it starts with a general idea about the business in question and then this idea is analyzed according to a series of parameters: forms of financing , legal issues, market situation related to the activity to be carried out and certain aspects related to technical issues: the marketing plan or available human resources. If these parameters provide satisfactory information, it is possible to put a solid business plan into practice.

While all parameters are important, there is one aspect that is essential: the marketing plan. In a marketing plan, one studies who the target audience of a business is and what their needs are, the services that can be offered to these customers and, at the same time, the functioning of other similar businesses must be analyzed. After the answers you have it is necessary to develop a marketing strategy.

The purpose

It has three essential elements:

1) Analyze the business potential;

2) Guide the day-to-day activities of a company ;

3) Get funding for a project.

It is advisable that once the business plan is drawn up, it is registered in a specific document. This way, it will be easier to explain the project to potential partners or investors. It should be noted that a business plan is a business card and if it is done well it can attract attention.

Experts advise that there are two versions: an extensive business plan prepared with precise information and a simplified plan that can be consulted simply and directly.

The key to a good business is finding a need that has not yet satisfactorily met the job market.

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