| What is a Business Plan? |
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It defines your business, identifies goals and becomes your company's "introduction" |
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It should clearly state your operations and goals |
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Essentially economic in nature, it helps you allocate your resources properly. |
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It will help tide over unforeseen complications or difficult times |
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A plan will help you stay focused, and make sensible business decisions |
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This is an invaluable document, should the need arise for taking a loan for your business.
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What are the essentials of a Business Plan? |
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Define the service or product
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State how it will be useful
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How is your product superior / different?
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What is the need in the market, for your product?
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Who are the potential customers?
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Why would they buy from you?
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How would you approach these customers? |
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Your financial resources in terms of capital and to run the business. |
Knowing well-enough, the importance of a business plan, many people still drag their feet when it comes to putting one down on paper! Remember, a Business Plan will certainly make your outfit look more professional, and is necessary to make that first impression! Treat it like a road map- it tells you where you are going!
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The role and responsibility of entrepreneurs is changing as India changes. This is an important issue to think about, because the nature of entrepreneurship is different in India- it is more complex, complicated and more granular than the West. 
List out business ideas and make your choice. Once you have identified your business idea, find out what you will require eg. Staff, inventory, storage space, communication network, stationary etc 