PLAN FOR NEW BUSINESS

When you start any trip or journey you always collect some information and idea of way of traveling that you have selected to reach your destination. If you don’t know that the route that you have opt to find out you success where it goes then the destination would be difficult to find almost impossible.

Thus always have some work out plan before starting any new thing. Business plan is the most important and first phase starting a new business. Acutely it is the step that is performed before starting the business. However after the business has started the cost that occur on planning is deducted from the profits as research and development cost.  Planning is defined as the road map that leads you towards the success.

Businessplan involves the following heads. Executive summary it includes the overall and the central idea of the business it is very important area and it is generally written after the other steps are fully completed.  If a reader or investor shows his interest in executive summary he would be definitely read the other parts of the plan as well. Market research it is the first step towards the finding out that whether the business that we are going to start is feasible or not. Market research and analysis   involves the complete scope of the business i=and its produced products competitions and possible competitors.

Financial analysis after getting the assurance that the business is feasible the next step is to determine how the basic resource can be acquired to start the business like raw material fixed assets land building etc and for this how the finance can be raise whether through issuing shares of borrowing loan from the bank. 

Marketing and promotional strategy you have started the business but the general public get to know about it. Thus advertising and marketing strategy is very important especially after the period the media has developed. To choose the right and appropriate method is evitable like through internet, TV, newspaper etc. 

 so these are the basic steps that play a very crucial and important part in forming a solid and reliable business plane. And you be consider these.