Summary: Bizwin

After gaining enough knowledge on the types of business structure, business owners can proceed to the process so that their plans of owning a business will turn into reality. After reading several resources, the process will be divided into five stages. The first stage is the planning and research. This involves developing viable business ideas, knowing the target customers and possible competitors, searching for the right location, thinking what will be the business name, and marketing strategy. In this stage, a business plan should be made. Business Link (2016) refers, “business plan as a document that defines why you’re in business, your goals, and how to achieve those goals and it also covers all major aspects of the business, including

If the company wants to solve its problems and become attractive for the potential investor, it should solve all its problems. The most important, company has to develop a business plan. In this plan, all the problems will be solved through stating company’s vision, mission, objectives, marketing, production and financial plan.

The two Business Plan Software types reviewed for this comparison were Bizplan.com and Business PlanMaker™ Professional 12 by individual software.com. As an overall comparison the conclusion I’ve made results that both pieces of software along with others available stand highly subjective to the user and the type of business. Although each plan has advantages and disadvantages, those differences would need to be considered by each business as to its compatibility for its’ business’ needs.

From the business plan above, we can conclude an execution against the plan could provide a viable business creating wealth for the founder, employment opportunities for the team and service to customers. A detailed and well considered business plan provides the best scope for success. (Spinelli & Adams

•Business plan completion. This will be done as a roadmap for the organization. This will be an indispensable tool for the ongoing performance and improvement of the company.

You don’t just start a project without a plan. A proper business plan has five important reasons that apply to being

Provide a brief overview of your approach to business planning. For example, do you make plans? If so how often” What (if any) are your planning methods? Who is involved in developing the plans? How do you review your plan against your performance?

The format of a business plan plays an important role in determining whether the document meets the required standards or not. Generally, the format of the business plan should be designed in a way that the reader is able to isolate short and medium term plans for the business, its current state, and its strategic plan. In this regard, the

By taking into account the needs for thinking and planning strategically, businesses have found formulating plans and strategically applying them through the management of a business will increase one 's capability of preventing problems, making smart decisions, improving management/employee relationship, and most often help cope with change (Pearce and Robinson, 11). Another way of answering and initially describing why businesses plan is businesses want a "formal process of defining requirements for delivering high payoff results; for identifying what and how to get from our realities to future ones that add value to society at the Mega level. It is not rigid or lock-step, but rather a self-correcting set of defining requirements and relationships for stating What Is in terms of results, and moving ever closer to What Should Be results and payoffs" (Kaufman, 41).

This paper will focus on the first phase of a business plan breakdown. Mariotti & Glackin (2013) provide an outline of a business plan which inlcudes mission, vision, culture, and company description. The beginning of the business plan discussed in this paper is a food truck park in Salt Lake City, Utah called The Fox Den Food Park. Vision, mission, strength, weakness, opportunity and threat analysis will encompass the beginning of the plan.

Business plan is extremely important for the success of business and its main purpose is to give a picture of the future business. Business plan is very

Business concept, marketplace and financial are main comprehensive sections in business plans. These three sections are elaborated in seven components, which include” the overview or summary of the plan, description of the business, market strategies, competition analyses, design and development, operation and management, and financial information”.

What is a business plan and do I need one for my business? A business plan is just something helpful that outlines what you plan to do with your business and how you plan to lay it out and pay for it. It takes a lot of time and work. Most business owners who have plans are glad they have them. Business plans help the owner get money from lenders, help you decide if you want to keep going with your plans to have a business, they improve your business concept, and improve the odds of your business succeeding. The business plan also helps you stay on track. It presents a clear-cut plan for the future. For example, if you planned to be making a living three months after start-up, and six months after your going to be in the hole at the rate of $100 per day, your business plan should help you see that changes are necessary.

Planning is an integral part of any business and should be therefore greatly taken into account

It 's an arduous task to continuously monitor your cash flow, market your product, constantly research the industry to gauge the competition, all while balancing daily productivity. The challenges you face to meet important objectives need "a best option" for you to refer to. Therefore, as you plan and organize your way through the first few years of operations, the best solution is to keep a copy of your business plan close by for you to refer to.