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What is a business plan and why do I need one?


You may think that you won't need a business plan for much longer. Students who want to succeed before retirement age may very well start their own business while still in college. And if you want to devote more time to your individual project, can help you with your studies.

Business plan - a document, the art of which should master every self-respecting entrepreneur. It's especially important for students, and here's why. Why do we need a business plan? Young people are the future of the country. In the heads of students are constantly swarming masses of thoughts, plans, projects, ideas, about which I want to inform the whole world.

But to start turning their wildest dreams into reality, these ideas must be presented competently to those who are willing and able to invest in them: investors. If you come to important people with a verbal offer to give you money and the same verbal promise to repay those funds, it's just unprofessional and immature. And the lack of structure of a business plan will tell them that the idea is not well developed. 

The purpose or essence of a business plan is to raise capital to develop a business idea. What should a business plan look like? It should definitely not be written in free-form like an erse with

Start writing a business plan. For it to be successful (at least outwardly), to demonstrate the idea you must show the project in terms of organizational structure.

That is, the business plan should look presentable: have a clear structure (by type); have sections with their characteristics and a clear sequence; perform its direct function - to sell the idea.  And for all this you need to carefully consider the logic and sequence of development of a business plan in planning. So, here are a number of rules, compliance with which will help to make a competent business plan that fulfills its role and catches the eye with an attractive structure!

Features of the plan and the stages of development of a business plan, its structure

 Appearance matters. A document is a document, so the finished business plan should have the presentable appearance of a prosperous enterprise. And no excesses and bright spots. Pay attention to the little things, but not too much. The detailing of the business plan should be adequate. That is, it should be consistent with the goals of the business plan, but not excessive. Materials should be laid out clearly, clearly, briefly. 

Persona non grata. The business plan should not include background or secondary information (if their presence is necessary, put it in an appendix). Simultaneously clever and for the general public. The vocabulary of the business plan should be simple, accessible to most, not highly specialized. After all, this document is an advertisement of sorts, not a simple analytical document.

Describe the calculations. Investors need to see that you are objective, not hovering in the clouds. So in the document be sure to list the possible difficulties you will face in the implementation of the project, and how to overcome them. A business plan is not an essay. It has no place for empty phrases. Works for financiers with would be a good example.  Display only facts, honest, real information and analysis, sound and market-supported data

  Penny for penny.

The document should contain the most accurate financial calculations possible. Investors want to understand where every penny from their wallet is going. Risk without champagne. Be sure to mention possible risks. If you do not mention them, but they will emerge in the course of the project, you won't think twice.

A mini-plan of the plan. There are people (and there are many) who like to see a mini-copy of a business plan - a kind of outline plan, to briefly review the document and see if they are interested in the proposal enough to listen to it in full.

You can learn even more about writing a business plan at the resources provided:

How Movement Affects Student Learning

How to Pass Exams Successfully: Tips from Pragmatic German Students

Tips for graduates: How to spend your last days in college and what to do next

  10 Ways to Study Faster and More Effectively10 Ways to Study Faster and More Effectively


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