{"id":313,"date":"2017-03-05T11:11:13","date_gmt":"2017-03-05T11:11:13","guid":{"rendered":"https:\/\/enterslice.com\/learning\/?p=313"},"modified":"2020-09-30T15:06:33","modified_gmt":"2020-09-30T09:36:33","slug":"business-planning","status":"publish","type":"post","link":"https:\/\/enterslice.com\/learning\/business-planning\/","title":{"rendered":"What is the need of Business Planning?"},"content":{"rendered":"<p class=\"has-drop-cap\">You have a powerful idea\/&nbsp;<a href=\"https:\/\/enterslice.com\/business-plan\"><strong>business plan<\/strong><\/a>&nbsp;for the next big thing, but before you sell it to anyone, you have to get it all down on paper.&nbsp; It&rsquo;s time to have a proper&nbsp;business planning. We have made a perfect blueprint to plan your business with step by step guidance.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Why do you need a business plan?<\/h2>\n\n\n\n<p>The most effective business plans are dynamic documents that evolve when your business grows and changes. These plans are essential for following reasons:<\/p>\n\n\n\n<ul><li>Raising funds;<\/li><li>Managing business;<\/li><li>To communicate vision to your employees and investors.<\/li><\/ul>\n\n\n\n<h2 class=\"wp-block-heading\">Points to consider when you are starting a business<\/h2>\n\n\n\n<p>The following points are critical before you commence your business:<\/p>\n\n\n\n<ul><li>Turn your ideas and capital into a viable business;<\/li><li>Secure funding from angel investors and VCs;<\/li><li>Identify the Strength, Weakness, Opportunities and Threats. (SWOT Analysis)<\/li><\/ul>\n\n\n\n<h2 class=\"wp-block-heading\">Points to consider when managing start-up business<\/h2>\n\n\n\n<p>The following points are critical when managing start-up business:<\/p>\n\n\n\n<ul><li>Communicate your vision to your employees and external parties;<\/li><li>Develop accurate <a href=\"https:\/\/enterslice.com\/learning\/the-concept-of-financial-forecasting\"><strong>financial forecasts<\/strong><\/a> and set goals;<\/li><li>Compare your planned with actual performance.<\/li><\/ul>\n\n\n\n<h2 class=\"wp-block-heading\">How to grow your business?<\/h2>\n\n\n\n<p>Growing your business requires considering the following elements:<\/p>\n\n\n\n<ul><li>Raise capital from angel investors, VCs, <strong>Private Equity Funds<sup><a href=\"https:\/\/en.wikipedia.org\/wiki\/Private_equity_fund\">[1]<\/a><\/sup><\/strong> to expand;<\/li><li>Create a strategy to manage the growth and generate more profit;<\/li><li>Make the best use of the opportunities available and mitigate risks.<\/li><\/ul>\n\n\n\n<h2 class=\"wp-block-heading\">How to exit your business?<\/h2>\n\n\n\n<p>Exiting your business requires:<\/p>\n\n\n\n<ul><li>Developing a plan to transfer the ownership;<\/li><li>Establishing a time line for the transition process;<\/li><li>Identifying the financial and regulatory requirements.<\/li><\/ul>\n\n\n\n<h2 class=\"wp-block-heading\">Conclusion<\/h2>\n\n\n\n<p>Hope that this post provides you a brief idea to initiate business planning and it can help you kick start your business.<\/p>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"aligncenter size-large\"><img decoding=\"async\" loading=\"lazy\" width=\"410\" height=\"1024\" src=\"https:\/\/enterslice.com\/learning\/wp-content\/uploads\/2020\/09\/Need-Business-Plan-1-410x1024.png\" alt=\"business planning\" class=\"wp-image-38221\" srcset=\"https:\/\/enterslice.com\/learning\/wp-content\/uploads\/2020\/09\/Need-Business-Plan-1-410x1024.png 410w, https:\/\/enterslice.com\/learning\/wp-content\/uploads\/2020\/09\/Need-Business-Plan-1-120x300.png 120w, https:\/\/enterslice.com\/learning\/wp-content\/uploads\/2020\/09\/Need-Business-Plan-1-768x1920.png 768w, https:\/\/enterslice.com\/learning\/wp-content\/uploads\/2020\/09\/Need-Business-Plan-1.png 800w\" sizes=\"(max-width: 410px) 100vw, 410px\"\/><\/figure><\/div>\n\n\n\n<p class=\"text-left\"><b>Read our article<\/b>:<mark style=\"background: #fffd03 !important;\"><a href=\"https:\/\/enterslice.com\/learning\/how-business-plan-consulting-help-your-business-grow\/\">How can Business Plan Consulting Help Your Business Grow?<\/a><\/mark><\/p>\n","protected":false},"excerpt":{"rendered":"<p>You have a powerful idea\/&nbsp;business plan&nbsp;for the next big thing, but before you sell it to anyone, you have to get it all down on paper.&nbsp; It&rsquo;s time to have a proper&nbsp;business planning. We have made a perfect blueprint to plan your business with step by step guidance. Why do you need a business plan? [&hellip;]<\/p>\n","protected":false},"author":35,"featured_media":38223,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[2220],"tags":[15],"acf":{"service_id":"356"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v14.6.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>What is the need of Business Planning - Enterslice<\/title>\n<meta name=\"description\" content=\"You have a powerful idea for the next big thing, but before you sell it to anyone, you have to do proper business planning infographic.\" \/>\n<meta name=\"robots\" content=\"index, follow\" \/>\n<meta name=\"googlebot\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<meta name=\"bingbot\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterslice.com\/learning\/business-planning\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"What is the need of Business Planning - Enterslice\" \/>\n<meta property=\"og:description\" content=\"You have a powerful idea for the next big thing, but before you sell it to anyone, you have to do proper business planning infographic.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterslice.com\/learning\/business-planning\/\" \/>\n<meta property=\"og:site_name\" content=\"Enterslice\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/enterslice\" \/>\n<meta property=\"article:published_time\" content=\"2017-03-05T11:11:13+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-09-30T09:36:33+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/enterslice.com\/learning\/wp-content\/uploads\/2017\/03\/What-is-the-NEED-OF-BUSINESS-PLANNING.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"670\" \/>\n\t<meta property=\"og:image:height\" content=\"352\" \/>\n<meta name=\"twitter:card\" content=\"summary\" \/>\n<meta name=\"twitter:creator\" content=\"@enterslice\" \/>\n<meta name=\"twitter:site\" content=\"@enterslice\" \/>\n<!-- \/ Yoast SEO plugin. -->","authorName":"Ashish M. Shaji","authorImageUrl":"https:\/\/enterslice.com\/learning\/wp-content\/uploads\/2020\/10\/04.jpg","authorDescription":"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.","postViews":516,"readingTime":1,"nextPost":{"id":362,"slug":"how-you-can-make-your-wallet-like-paytm"},"prevPost":{"id":214,"slug":"highlights-of-union-budget-2017-18"},"featuredMediaUrl":"https:\/\/enterslice.com\/learning\/wp-content\/uploads\/2017\/03\/What-is-the-NEED-OF-BUSINESS-PLANNING.jpg","postTerms":"Business Plan","_links":{"self":[{"href":"https:\/\/enterslice.com\/learning\/wp-json\/wp\/v2\/posts\/313"}],"collection":[{"href":"https:\/\/enterslice.com\/learning\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterslice.com\/learning\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterslice.com\/learning\/wp-json\/wp\/v2\/users\/35"}],"replies":[{"embeddable":true,"href":"https:\/\/enterslice.com\/learning\/wp-json\/wp\/v2\/comments?post=313"}],"version-history":[{"count":0,"href":"https:\/\/enterslice.com\/learning\/wp-json\/wp\/v2\/posts\/313\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterslice.com\/learning\/wp-json\/wp\/v2\/media\/38223"}],"wp:attachment":[{"href":"https:\/\/enterslice.com\/learning\/wp-json\/wp\/v2\/media?parent=313"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterslice.com\/learning\/wp-json\/wp\/v2\/categories?post=313"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterslice.com\/learning\/wp-json\/wp\/v2\/tags?post=313"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}