The Business Plan shows the likely scenarios and their respective variables, to facilitate the analysis and presentation to stakeholders. The objetives for which you must have a business plan are:
- Establish what is the most efficient way to carry out a project.
- Define the allocation of time and resources for development.
- Evaluate the performance of an ongoing business.
- Verify that a business is financially and operationally profitable before carrying it out.
Business Plan Market
Before launching a product or service the market depth must be known. Within the business plan is the market research which is used to find companies offering similar products and services or what services they offer. Moreover market research allows to know what consumers want and mainly describes possible scenarios for the future.
In the business plan you should include the most relevant information on competitors, taking into account the most important aspects such as prices, structure, cost, technology, image, among others.
Through this analysis you can set the industry standards, advantages and disadvantages of each enterprise.
Despite that success depends on many variables, you can set factors that allow a business to run well. Some of them are:
- Amount of refunds.
- Production errors.