SP Services
Business Plan

What is the need of Business Planning?

Business Planning

You have a powerful idea/ business plan for the next big thing, but before you sell it to anyone, you have to get it all down on paper.  It’s time to have a proper business planning. We have made a perfect blueprint to plan your business with step by step guidance.

Why do you need a business plan?

The most effective business plans are dynamic documents that evolve when your business grows and changes. These plans are essential for following reasons:

  • Raising funds;
  • Managing business;
  • To communicate vision to your employees and investors.

Points to consider when you are starting a business

The following points are critical before you commence your business:

  • Turn your ideas and capital into a viable business;
  • Secure funding from angel investors and VCs;
  • Identify the Strength, Weakness, Opportunities and Threats. (SWOT Analysis)

Points to consider when managing start-up business

The following points are critical when managing start-up business:

  • Communicate your vision to your employees and external parties;
  • Develop accurate financial forecasts and set goals;
  • Compare your planned with actual performance.

How to grow your business?

Growing your business requires considering the following elements:

  • Raise capital from angel investors, VCs, Private Equity Funds[1] to expand;
  • Create a strategy to manage the growth and generate more profit;
  • Make the best use of the opportunities available and mitigate risks.

How to exit your business?

Exiting your business requires:

  • Developing a plan to transfer the ownership;
  • Establishing a time line for the transition process;
  • Identifying the financial and regulatory requirements.

Conclusion

Hope that this post provides you a brief idea to initiate business planning and it can help you kick start your business.

business planning

Read our article:How can Business Plan Consulting Help Your Business Grow?

Ashish M. Shaji

Ashish M. Shaji has done his graduation in law (BA. LLB) from CCS University. He has keen interests in doing extensive research and writing on legal subjects especially on corporate law. He is a creative thinker and has a great interest in exploring legal subjects.

Business Plan Consultant

Trending Posted

Startup CFO

Our Awards Our Awards

Top 100 Companies in Asia - Red Herring
Top 100 Companies in Asia - Red Herring

Red Herring Top 100 Asia enlists outstanding entrepreneurs and promising companies. It selects the award winners from approximately 2000 privately financed companies each year in the Asia. Since 1996, Red Herring has kept tabs on these up-and-comers. Red Herring editors were among the first to recognize that companies such as Google, Facebook, Kakao, Alibaba, Twitter, Rakuten, Salesforce.com, Xiaomi and YouTube would change the way we live and work.

Top 25 in India - Consultants Review

Researchers have found out that organization using new technologies in their accounting and tax have better productivity as compared to those using the traditional methods. Complying with the recent technological trends in the accounting industry, Enterslice was formed to focus on the emerging start up companies and bring innovation in their traditional Chartered Accountants & Legal profession services, disrupt traditional Chartered Accountants practice mechanism & Lawyers.

Top 25 in India - Consultants Review

In the news