{"id":9084,"date":"2020-05-04T08:13:11","date_gmt":"2020-05-04T08:13:11","guid":{"rendered":"\/blog\/?p=9084"},"modified":"2020-05-04T09:34:38","modified_gmt":"2020-05-04T09:34:38","slug":"things-you-should-know-for-a-great-business-plan","status":"publish","type":"post","link":"https:\/\/tata-blog.osian.dev\/blog\/loan-for-business\/things-you-should-know-for-a-great-business-plan\/","title":{"rendered":"Things you should Know for a Great Business Plan"},"content":{"rendered":"\n

A\nbusiness plan is a list of priorities that defines the what, when, how – and\nmost importantly – the why of your fledgling business idea. Over the years,\nbusiness plans have evolved. They have gone from an elaborate roadmap of how\nyou will launch, manage and grow your business to a simple one-page document\nthat answers only the key questions that investors may be interested in.\nHowever, it is indispensable from the perspective of business loan approval.<\/p>\n\n\n\n

Know More<\/a><\/div>\n\n\n\n

How to make a business plan<\/strong><\/p>\n\n\n\n

A\nbusiness plan should give investors insights into how the various aspects of\nyour business will work together to create value for others. Think about every\nstakeholder that you will interact with or will be a part of your operation,\nincluding vendors, employees, customers, investors and even government\nauthorities.  <\/p>\n\n\n\n

The\nbusiness planning process incorporated in your business plan should consider\nthe following stages:<\/p>\n\n\n\n

Pre-launch stage<\/strong><\/p>\n\n\n\n

This\npart of a business plan should offer a sound understanding of why you think\nyour business idea has potential. It should describe your product and its\nadvantages relative to the competition, including a description of the market\ngap you seek to exploit. You can also include the estimated time to break-even.\nOutline your ideal customer profile, including demographic factors like income,\nage and personal interests.<\/p>\n\n\n\n

Start-up stage<\/strong><\/p>\n\n\n\n

\"Business<\/figure>\n\n\n\n

A\ngreat business plan should then draw attention to the target market in which\nyou will be operating. It should describe your ideal customer profile,\nincluding demographic factors like income, age and personal interests. It\nshould also outline the initial costs of setting up the business such as rent,\nequipment, supplies and labor.<\/p>\n\n\n\n

Getting\na trade license from the local municipality and setting up a bank account are\nincluded in this phase. If you are an SME, you can avail a loan for business at\na preferential rate of interest via the government\u2019s MUDRA scheme.<\/p>\n\n\n\n

Ramp-up stage<\/strong><\/p>\n\n\n\n

This\nstage should describe how you expect sales and marketing activities to shape\nup, including working capital needs and product development strategy. It should\nhave an overview of your marketing and sales strategy dwelling briefly on\nbudgets, performance milestones and managing payments.<\/p>\n\n\n\n

Growth stage<\/strong><\/p>\n\n\n\n

This is the part where you lay out your plans for expansion, including adding new products and services to the company portfolio. Further, you should go on to describe the growth threshold in terms of revenues and market share. This will help you set realistic targets that are aligned with the overall objectives of your business. Throughout the process, make provisions for sufficient funds to meet projected infrastructure and logistics costs, including GST.

Summary<\/strong><\/p>\n\n\n\n

This section is best saved for last as it is a synopsis of the overall plan you have in mind for starting and growing your business venture. It should be a brief and concise description of what your company does and why. Seize the opportunity to get an instant business loan from Tata Capital worth up to Rs. 75 lakhs. Whether it is to buy machinery or rent new office premises, Tata Capital\u2019s business loan<\/a> helps you meet every possible need with confidence.<\/p>\n\n\n\n

Apply Now<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"

A business plan is a list of priorities that defines the what, when, how – and most importantly – the why of your fledgling business idea. <\/p>\n

Read More<\/a><\/p>\n","protected":false},"author":1,"featured_media":9085,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[26],"tags":[],"class_list":["post-9084","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-loan-for-business"],"yoast_head":"\nList of things you should know for a great business plan - Tata Capital Blog<\/title>\n<meta name=\"description\" content=\"Learn how to write a great business plan and watch your business grow. Here's the list of things you should know for going a great business. 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