MODULE -2
Preparation of Business Model/Plan
Importance Of Business
Opportunity
• Here are some reasons why a business opportunity is
important:
• [Link] chance to build a business
• [Link] chance to avoid failure
• [Link] chance to grow
• [Link] chance to maximise profits
• 5. The chance to generate reveues
• 6. The chance to introduce innovation
• [Link] chance to show Economic Growth
• [Link] to get Competitive Edge
• [Link] to remains Adaptability
Business Idea
• Sources for Getting Business Ideas
• 1. Past Work Experience:
• 2. Hobbies and Interests:
• 3. Strengths and Abilities:
• 4. Friends and Family
• 5. Distribution Channels
• 6. Travel:
• [Link] and Magazines:
• 8. Current Trends:
• 9. Research Organizations:
• 10. The Web:
Techniques for Generating new
ideas
• [Link]
• 2. Focus Groups
• 3. Problem Inventory Analysis
• 4. Reverse Brainstorming
• 5. Rawlinson Brainstorming
• 6. Collective Notebook Method
• 7. Heuristics
• 8. Garden Technique
• 9. Free Association:
• [Link] Analysis
Business Plan
• Importance of Business Plan
• 1. It helps you in critical decisions
• 2. It avoids the big mistakes
• 3. It proves the viability of the business
• 4. It set better objectives and benchmarks
• 5. It communicates objectives and benchmarks
• 6. It provides provide a guide for service providers
• 7. It secures financing
• 8. It gives better understand the broader
landscape
• 9. It reduces risk
Objectives of Business Plan
• [Link] of Business Plan
• 2) Create goals and objectives
• 3) Evaluating performance
• 4) Gauging business strategy and applying due
correction
• 5) Arranging financial resources
• 6) Stay consistent
• 7) Keep your goals ’SMART’
• 8) Performing SWOT Analysis
• 9) Marketing Analysis
Components of Business
• 1. Executive summary
• 2. Company description
• 3. Market analysis
• 4. Marketing plan
• 5. Sales plan
• 6. Competitive analysis
• 7. Organizational structure
• 8. Products and services
• 9. Operating plan
• 10. Financial plan
Guidelines to be followed while writing a Business plan
• 1. Write for your audience
• 2. Keep it concise
• 3. Check the competition
• 4. Keep clear details
• 5. Aim for the opportunity
• 6. Cover the key elements
• 7. Show your numbers in the right way
• 8. Have an Executive Summary
• 9. Get your document checked and reviewed by
experts
Feasibility study
• What Is a Feasibility Study
• A feasibility study is simply an assessment of the practicality of a
proposed project plan or method. This is done by analyzing
technical, economic, legal, operational and time feasibility factors.
• Types of Feasibility Study
• 1. Technical Feasibility
• 2. Economic Feasibility
• 3. Legal Feasibility
• 4. Operational Feasibility
• 5. Scheduling Feasibility
Steps are involved in Feasibility
study
• 1. Conduct a Preliminary Analysis
• 2. Prepare a Projected Income Statement
• 3. Conduct a Market Survey, or Perform Market
Research
• 4. Plan Business Organization and Operations
• 5. Prepare an Opening Day Balance Sheet
• 6. Review and Analyze All Data
• 7. Make a Go/No-Go Decision
The Importance of Feasibility Study to an
Entrepreneur
• 1. Evaluate the market
• 2. Analyze the financial feasibility
• 3. Evaluate the technical feasibility
• 4. Analyze the legal feasibility
• 5. Assess the operational feasibility
Why is a feasibility study important
• 1. Helps you make informed decisions
• 2. Identifies potential risks
• 3. Provides a clear roadmap
• 4. Helps attract investors and partners
• 5. Saves time and money
corestrategy
• Steps in core – strategy
• System initiation: In this step organisation sets goals and
objectives .at the same time roles and responsibilities also
are assigned among staff.
• Environment scanning: In this step SWOT analysis are
implemented to know capabilities of employess.
• Strategy formulation : Planning strategy is meant for
designing strategies as per requirement of organization.
• Strategy execution: In this stage organization think about
how to implement the strategies and how will we get
review and feedback.
• Strategy evaluation: strategic evaluation is to know about
how to get outcome and give rewards on the basis of
outcome.