6. entr lesson 12

6. entr lesson 12

• 1.
  THINGS TO REMEMBERIN WRITING A BUSINESS PLAN Entrepreneurship – Lesson 12
• 2.
  Topics to be Discussed………….. Make Strategic Plans  Make Operational Plans  Make Financial Plans  Implement the Plan
• 3.
  Make Strategic Plans Make strategic plans (For franchised businesses this is prepared by franchiser)  Setting your Vision/Mission Statements  Establishing Goals and Objectives  Identifying Strategies
• 4.
  Make Operational Plans Make operational plans (For franchised businesses this is prepared by franchiser)  First Part  Setting up Policies, Methods, Procedures and Budget  Second Part  Choosing your location  Planning operation and physical facilities  Developing sources of supply for goods and materials  Planning your human resource requirements  Setting up the legal and organizational structure  Determining your approach to the market  Establishing an efficient records system  Setting up a time schedule
• 5.
  Make Financial Plans Financial Planning involves determining what funds are needed where they can be obtained, and how they can be controlled.  Important aspects of the financial plan  Estimating income and expenses  Estimating initial investment required  Locating sources of funds
• 6.
  Implement the Plan Start the Business……………
• 7.
  Review…………..  Make StrategicPlans  Make Operational Plans  Make Financial Plans  Implement the Plan