Entrepreneurship

1. THINGS TO REMEMBER IN
WRITING A BUSINESS PLAN
Entrepreneurship – Lesson 12

2. Topics to be
Discussed…………..
 Make Strategic Plans
 Make Operational Plans
 Make Financial Plans
 Implement the Plan

3. Make Strategic Plans
 Make strategic plans
(For franchised businesses this is prepared by
franchiser)
 Setting your Vision/Mission Statements
 Establishing Goals and Objectives
 Identifying Strategies

4. Make Operational Plans
 Make operational plans
(For franchised businesses this is prepared by
franchiser)
 First Part
 Setting up Policies, Methods, Procedures and Budget
 Second Part
 Choosing your location
 Planning operation and physical facilities
 Developing sources of supply for goods and materials
 Planning your human resource requirements
 Setting up the legal and organizational structure
 Determining your approach to the market
 Establishing an efficient records system
 Setting up a time schedule

5. Make Financial Plans
 Financial Planning involves determining what
funds are needed where they can be
obtained, and how they can be controlled.
 Important aspects of the financial plan
 Estimating income and expenses
 Estimating initial investment required
 Locating sources of funds

6. Implement the Plan
 Start the Business……………

7. Review…………..
 Make Strategic Plans
 Make Operational Plans
 Make Financial Plans
 Implement the Plan