Archive for May 2018

Business Projects: How to handle it properly

The use of images and graphics not only makes the development of a business projects more bearable, but also allows to better describe or explain the elements that make it up, as well as making it more attractive for the reader.

Use images and graphics throughout your business plan; For example, use images of the products or services you are going to offer, flowcharts with the process or business processes, flowcharts with the areas or departments that will make it up, and plans with the location of the place where you will operate or with the disposition of the elements of this.

Do not hesitate to ask for help

As much as one has experience in the development of business plans or even knows all the particularities of your business, a little help to develop one will always be a way to simplify its writing and save time and effort. Whether or not you have experience in the development of business plans or know or not all the particularities of your business never hesitate to ask for help for the development of your plan if you consider it necessary, which would not necessarily have to come from professional advisors, but simply from friends or acquaintances who have developed one before or who have experience in the type of business you want to do.

Remember that a business plan is a flexible document

Finally, remember at the time of its development that a business plan is a flexible document that can and must be constantly updated, makes it easier to write as it takes away from the pressure to make a perfect or final plan. Strive to make a formal business plan, review it well several times, take care not to have misspellings that could detract from seriousness, but avoid the desire to make a perfect or final plan, remembering that a business plan, especially in the world Today’s change is not a document written in stone but a flexible one that can and must be constantly updated by adding, removing or correcting information.

Do Remember the Business Objectives

If the main objective of your plan is to evaluate the feasibility of launching a new product, avoid explaining too much the operation of this and give greater emphasis to the study of the market; and if the main objective is to obtain financing, avoid explaining too much technical issues and give greater emphasis to the financial evaluation and the description of your executive team.

Customers are the Final Decision Maker

If your plan is aimed at credit institutions, focus on the business opportunity and the projections of income and expenses; and if it is aimed at investors, also focus on the business opportunity but keep in mind that for these before the most important projections is the return on investment and, therefore, focus on this.

  • Partner links