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8/7/2019 Methods and Procedures to Start Business
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Methods andMethods and
Procedures to startProcedures to startone·s own Businessone·s own Business
Made By:Made By:Sonia SoniSonia Soni
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IntroductionIntroduction
Planning is the first & Crucial step for Planning is the first & Crucial step for starting a Businessstarting a Business
A Business Plan is a Road Map for A Business Plan is a Road Map for starting And Running a Businessstarting And Running a Business
A well Crafted Business Plan Leads to A well Crafted Business Plan Leads to
The Success of The pl
anThe Success of The pl
an It provides information i.e. Marketing,It provides information i.e. Marketing,
Finance, Operations & HRFinance, Operations & HR
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Business PlanBusiness Plan
Business Plan is the Blueprint of theBusiness Plan is the Blueprint of the
step by step procedure that couldstep by step procedure that could
be followed to convert a businessbe followed to convert a business
idea into a successful Businessidea into a successful Business
VentureVenture
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Objectives of a businessObjectives of a business
planplan To visualize the conceptTo visualize the concept
To guide the Entrepreneur To guide the Entrepreneur
To give directions to the vision formu
lated byTo give directions to the vision formulated byentrepreneur entrepreneur
To objectively evaluate the prospectus of theTo objectively evaluate the prospectus of thebusinessbusiness
To Monitor the progress after implementing theTo Monitor the progress after implementing the
planplan To persuade others to Join the businessTo persuade others to Join the business
To seek Loans from Financial InstitutionsTo seek Loans from Financial Institutions
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Objectives of a businessObjectives of a business
planplan To visualize the conceptTo visualize the concept
To guide the Entrepreneur To guide the Entrepreneur
SWOT Ana
lysis of the
PlanSWOT Ana
lysis of the
Plan
To clarify ideas and identify gaps in Mgt.To clarify ideas and identify gaps in Mgt.information about their business ,competitors &information about their business ,competitors &the marketthe market
To identify resourcesTo identify resources
To document ownership arrangements, futureTo document ownership arrangements, futureprospects & projected growths of the businessprospects & projected growths of the businessventureventure
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Business PlanningBusiness Planning
ProcessProcess Preliminary InvestigationPreliminary Investigation
Idea GenerationIdea Generation
Environmental ScanningEnvironmental Scanning
Feasibility AnalysisFeasibility Analysis
Project Report PreparationProject Report Preparation
Evaluation, control & ReviewEvaluation, control & Review
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Preliminary InvestigationPreliminary Investigation
Review available business plansReview available business plans
Draw key assumptionsDraw key assumptions
Scan the internal & external Envt. ToScan the internal & external Envt. To
assess the Swotassess the Swot
Seek Professional advice from a friend /Seek Professional advice from a friend /
Relative or a Person Who is already intoRelative or a Person Who is already into
similar businesssimilar business
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Idea GenerationIdea Generation
First stage of business planning processFirst stage of business planning process
Involves generation of new concepts,Involves generation of new concepts,
ideas, Products or services to satisfy theideas, Products or services to satisfy the
Existing, latent & future demands of theExisting, latent & future demands of the
market.market.
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Sources of new ideasSources of new ideas
Consumers /CustomersConsumers /Customers
Existing CompaniesExisting Companies
R&DR&D
EmployeesEmployees
Dealers, retailersDealers, retailers
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Methods of GeneratingMethods of Generating
new ideasnew ideas Brain StormingBrain Storming
GDGD
Data CollectionData Collection
Invitation of ideasInvitation of ideas
Market researchMarket research
Contests on TV i.e. business bazigar onContests on TV i.e. business bazigar on
Star TV.Star TV.
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Environmental ScanningEnvironmental Scanning
Scan the Environment
External
Environment
Internal
Environment
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External
Environment SocioSocio--Cultural AppraisalCultural Appraisal
Technological AppraisalTechnological Appraisal
Economic AppraisalEconomic Appraisal
Demographic AppraisalDemographic Appraisal
Govt. AppraisalGovt. Appraisal
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Internal
Environment
Raw materialRaw material
Production/operationProduction/operation
FinanceFinance
MarketMarket
HRHR
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Feasibility AnalysisFeasibility Analysis
It is done to find whether the proposedIt is done to find whether the proposed
project would be feasible or notproject would be feasible or not
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The various dimensionsThe various dimensions
areare Market AnalysisMarket Analysis
Technical AnalysisTechnical Analysis
Financial FeasibilityFinancial Feasibility
Drawing functional PlanDrawing functional Plan
Marketing PlanMarketing Plan
Production/operation PlanProduction/operation PlanOrganizational PlanOrganizational Plan
Financial PlanFinancial Plan
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Pro ject Report PreparationPro ject Report Preparation
Written Document that describes Step byWritten Document that describes Step by
Step the Strategies involved in startingStep the Strategies involved in starting
and running a businessand running a business
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Preparing a Pro ject ReportPreparing a Pro ject Report
Cover sheetCover sheet
Table of contentsTable of contents
Executive SummaryExecutive Summary
The BusinessThe Business
Funding RequirementFunding Requirement
The Product or servicesThe Product or services
The PlanThe Plan
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The PlanThe Plan
Marketing PlanMarketing Plan
Production/operation PlanProduction/operation Plan
Organizational PlanOrganizational Plan
Financial PlanFinancial Plan
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Preparing a Pro ject ReportPreparing a Pro ject Report
Critical risksCritical risks
Exit StrategyExit Strategy
Appendix Appendix
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Evaluation, control &Evaluation, control &
ReviewReview Because the competition in Today'sBecause the competition in Today's
Wor ld is intense & technological changesWor ld is intense & technological changes
are taking place at much faster rateare taking place at much faster rate
It is important so as to keep up with aIt is important so as to keep up with a
dynamic & changing Marketdynamic & changing Market
