Successfully launching a new business or initiative requires careful planning and the results of a business planning process are usually captured in a business plan. A business plan describes the business’s vision and objectives as well as the strategy and tactics that will be employed to achieve them.
You’ve no doubt heard the expression, “Failing to plan is planning to fail.”
Many entrepreneurs write a business plan only when they need to secure start-up financing. However, your plan is far more than a document for banks and investors to read; it’s an invaluable roadmap for launching and growing your business. In order to put your business concept on paper, you need to think through and research the many factors that are needed to make sure your business is a success. With a plan, not only can you spot potential weaknesses, opportunities, and threats, your plan can help you make informed decisions about your venture before you commit yourself legally or financially.
We help you in preparation of business plan after indepth financial and non financial analysis of your new business/project. Our business plan report includes executive summary, business overview, products and services, industry overview, marketing strategies, operational plans and financial plans.
Benefits of Business Planning
It helps in clarifying the purpose and direction of your business, preparing for future growth and direction, attracting investors to provide the capital needed for getting started, as a sale tool to attract partners, secure supplier accounts and attract executive level employees into the new venture and It also acts as a management tool that can be referred regularly to ensure the business is on course with meeting goals, sales targets or operational milestones.
Financial Planning and its importance in our lives
It might involve putting appropriate wills in place to protect your family, thinking about how your family will manage without your income if you fall ill or die prematurely, spending money differently, but it involves thinking about all of these things together i.e. your ‘plan’. You can build a plan on your own by following these basic steps:
Establish your goals in life – short, medium and long term
Work out what assets and liabilities you have – write them down
Evaluate your current financial position – how close are you to achieving your goals?
Develop your plan – create a “route map” for achieving your different goals
Implement your plan – make the changes and make it happen
Monitor and review your plan at least yearly and make adjustments when needed
Start Early, Save More, Future Secure”
Disclaimer: We do not provide investment or insurance advisory services