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How to Evaluate the Performance of your Company Based on Your Business Plan

A business plan is one of the most important documents that is needed for the betterment of the business. It provides all the need to know strategies, marketing techniques, sales techniques and financial forecasting methods which is to be used to increase profits and revenue of the business. However, writing a Geoff Bainbridge business plan is no walk in the park. It takes a lot of time and concentration and is one of the biggest responsibilities which is to be undertaken. For this crucial task there are dedicated people called business plan consultants. They will be the people who take the ideas that the entrepreneur has and converts it into a document which is to be viewable by depends upon. Since this is a very big responsibility business plan consultant fee is a bit high. There are many factors that affect a good business plan and a great business plan will help the business clarify the business idea, identify potential problems in the business, find out objectives of the business and monitor the progress of the business. Since this is a very important document it is vital to keep an eye on the following factors when writing the business plan.

Executive Summary

The executive summary is the highlight and the brief description of the entire business. This has to be highly detailed but short enough so that a potential investor is able to read and understand the status of the business. It does not mean that it has to be limited to one or two pages.

The executive summary would include the highlight of the business concept which will describe about the products or services and the market that they are to be had. Then there are the financial features which related to all the sales, profits, return on investment and cash flow. Then the summary has to mention about the financial requirement that is need to invest in the business and talk about the main city and how to expand the business. The current position of the business will be stating about the business’s present state and how it got here. Finally, the major achievements of the business is usually be mentioned so that the potential investors could be impressed by the achievement that the business has done.

Business Description

The business description is about the details of the business. This should not be a highlight about the entire business like the executive summary but the in depth analysis of the business. The description has in the first place a short introduction which states about the past, present and future of the industry. Here you should mention about the markets that the business will be reaching and the future market places that business will be ready interact with. The goods that the business is still developing should be thoroughly discussed here so that the potential investors who have got an idea and are willing to invest in the business can get a knowledge about it.

The structure of the business has to be described in the business description. The pecking order of the business and the business places should be described in depth. The legal considerations of the business should be thoroughly stated so that there is clarity for everyone.

Market Strategies

When developing the market strategies there has to be a lot of market research done on the market place. This will give the business entrepreneur an amazing idea about the potential market and how he can use the market to increase the profits of the business. After paying attention to the market the company will be in a position to identify the strengths and weak spot of the business and will be able to produce a system in order to identify the potential opportunities and hazards. These studies will also be able to develop strategies to outlook the market place’s prices and when to offer more goods and services. These has to be clearly mentioned in the business plan so that these strategies can be used when necessary.

Pricing and Distribution

The process of pricing and distribution has to be clearly detailed in the business plan. The descriptions about all the prices must be mentioned in depth in this section. How the business can lower the values when necessary and how t answer the fluctuating prices has to be mentioned in depth. The process of distribution of the products until it reaches the hands of the customer has to be clearly stated.

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