Business plan

Business plan

The objective of the article is to convey the importance of a business plan as the first step in creating a company.

What is the business plan?

It is a document in which a business is described, the market situation is analyzed, and the actions that will be carried out in the future are established, together with the corresponding strategies that will be implemented, both for the promotion and for the manufacture of the product; It contains among its main points the systematic and comprehensive evaluation of the project and an analysis of its feasibility.

Therefore, you cánido see the business plan as a bridge that allows you to go from an iniciativa or a concept to a fact, that is, it describes all the aspects of how your business is going to work, and how you are going to make it work. success.

For example, a business plan establishes what will be the concept, product or service to be provided, where it will operate, what will be the size and scope of its functional areas, among many other elements.

It should be noted that a business plan allows you assess if said business is really profitable and feasible before carrying it out, therefore, it is very important that it be carried out before investing in said business.

Whereby, a business plan is carried out to evaluate business opportunities.

What are the advantages of developing a business plan?

In the book Entrepreneurship.

Concepts and business planfrom Sierra, CP, some of the advantages of a business plan are the following:

  • It allows to have clear ideas, solutions and results.
  • A business plan is maleable and adaptable, since it is established according to the moment in the life of the company and the type of business that is going to be planned.
  • A business plan ensures that a business makes financial and operational sense before it gets off the ground.
  • Through a business plan we will find the most efficient way to carry out a project.
  • Evaluate the performance of a business in progress.
  • It helps to make an evaluation of the company in the event of a merger or sale.

Phases of a project to start a company

iniciativa generation

Speaking of a project to launch a company, of course, the generation of the iniciativa is the first phase.

Within this phase, creativity plays a very important role, because we are going to guide said creativity to satisfy the market, through a product: good or service.

In this phase, we have to have at least a general iniciativa about the type of product that we are going to offer, the need from which the project arises, we have to begin to have a notion of our competition, likewise, we have to know the economic and human resources that will be required and an estimate of the time it will take to establish the company.

iniciativa evaluation

The evaluation of the iniciativa consists of analyzing in detail the viability of the iniciativa, that is, we are going to estimate if the iniciativa is possible and profitable.

If so, we continue with the project.

Some questions that may help you are:

  • Is there demand and market for the product to be offered?
  • What might be the strengths and weaknesses of existing and potential competition?
  • What is the availability of the infrastructure or material resources necessary to carry out the iniciativa?
  • Is it necessary to carry out any scientific-technological research or development process to implement our iniciativa?
  • What would be the legal requirements for running the business?
  • How long would it take to acquire the necessary licenses to start the operations of the organization?
  • How many people should be hired?
  • How could the product be made known?
  • What means and resources could we use for promotion and publicity?

Thus, the answers to these questions will work as a first filter that will allow us to assess whether our iniciativa cánido really work.

Preparation of the business plan

First of all, I have to emphasize that the business plan is prepared by describing the iniciativa in detail and considering the answers raised in the previous phase.

Therefore, the business plan projects the image of the company and espectáculos how its operations will develop once it has been incorporated.

In other words, when I say that the business plan projects the image and espectáculos how its operations will develop, I orinan that it espectáculos the way in which the organization will function (in the short, medium and long term).

In this way, we perro see that the business plan serves as a base, which gives rise to the company that we intend to develop.

It is something like a map in which the route that we will have to follow is established so that the company perro materialize, so that it perro develop, so that it cánido grow, and expand in the market.

Finally, it should be noted that it is susceptible to change over time due to the transformations that the organization will undergo during its life cycle due to the environment.

Functions of a business plan

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