The business plan works as a guide for the businessman or entrepreneur.
Business plan is a guide for the entrepreneur or businessman. It is a document that describes a business, analyzes the market situation and establishes the actions that will be carried out in the future, together with the corresponding strategies that will be implemented, both for promotion and manufacturing, if applicable. of a product.
In this way, the business plan is an instrument that allows you to communicate a business idea to sell it or obtain a positive response from investors. It is also a tool for internal use for the entrepreneur, since it allows him to evaluate the viability of his ideas and monitor their implementation; an analysis and testing platform, in which many projects can be archived that are not necessarily poor, but perhaps need more time and dedication to achieve the expected success.
Preparation of a business plan
Since it indicates the objectives to be met, a business plan must include the details of the action plan necessary to achieve them. On the other hand, it is important that the business plan is prepared in such a way that it allows it to be updated with changes in the dynamism of the market and the situation of the company .
The development of plans is one of the most important aspects of business management . Having a guide is a kind of insurance against the problems that arise during daily work, since it offers possible solutions and alternatives.
The importance of accurate information
In all plans, it is important that the businessman or entrepreneur includes truthful information ; The predictions you make about business income should be conservative , so that the sustainability of the business is foreseen in the business plan without big numbers. It is always preferable for sales to exceed forecasts and not vice versa.
Many times, large companies make the mistake of considering that a past success will be repeated if a similar plan is followed, and this can lead to ruin. The market , especially today, constantly changes trends, gets bored easily with new products and services and demands to be surprised every minute. Smartphones and their “quantity is more important than quality” model are a reflection of the unfortunate and dangerous state of the entertainment industry today.
In a business plan you must analyze the market situation.
The business plan and market changes
Drawing up a plan to create a business that would take two years of research and development plus another two years for testing, launching mass production and advertising promotion is a risk that was very common a couple of decades ago, but that every fewer and fewer companies are willing to run. It is very difficult to understand and anticipate consumer tastes in the short term, let alone in the relatively distant future.
But as in all interpersonal relationships, both companies and their public are responsible for the quality crisis suffered by current products. For a responsible company known for its creativity, for taking alternative paths and for positively surprising consumers with well-finished products to change its strategy and lower the bar, the presence of another company or companies that have convinced people to that "a high price is synonymous with scam", among other decontextualized ideas.
When a large percentage of the population that until a certain point in history represented the perfect target for a certain product is put in the hands of a model of "blatant imitations and passable quality", a business that in the past would have been a guaranteed success becomes becomes a dead end, an economic and corporate failure. The solution? Some opt for a business plan in which there are different stages of publication, so that a large project can be marketed in small parts , reducing monetary risk and avoiding too much time passing between day one and launch .