Creating a Successful Business Plan: Key Factors

Creating a Successful Business Plan

A business plan is a document in which a business idea is defined in a clear and synthetic manner. It details the tools to be used by the main promoters and describes its advantages.

Advantages of a Business Plan

• External: Facilitates obtaining funding.
• Internal: Helps determine project viability and plan, organize, direct, and control the production factors necessary to make the activity a reality.

Key Elements of a Business Plan Design

The design of a business plan should include:

• Natural Resources: Primarily energy and natural supplies.
• Labor: Direct or indirect workforce.
• Capital: Property investments and financial resources.
• Entrepreneurial Organization: Administration, management, and direction.
• Technology: Procedures and techniques that combine production factors.

Essential Points to Include

1. Creation of the Idea: The basic idea upon which the entire business project is based, specifically referring to the activity and novelty the business will bring.
2. Future Endeavors:
   1. Implementation of activity due to a new technological innovation.
   2. Addressing entirely new needs.
   3. Franchising: Assignment to an independent firm to use the rights and elements.
      • Benefits: Proven success formula.
      • Drawbacks: High entry cost; a portion of billing goes to the promoting company.
3. Identification: Finding the right people with technical expertise for development and management.
4. Location: Proximity to raw materials and markets; selective localization.

Total Project Feasibility Analysis

This involves analyzing data of interest to the project, as well as the characteristics of the environment, to determine if the business can succeed. The creation of a company depends on this study.

• Internal Data to Analyze: Entrepreneurship, business idea, availability of material and financial resources, and professional knowledge and techniques.
• External Data: Location, market availability, public infrastructure, economic connections, and business environment institutions.

Commercial Viability

This involves a market study, SWOT analysis, and a marketing plan.

Market Research Process

Examines consumer behavior, the degree of competition, and the characteristics of the general environment of the company.

Analysis

1. General Environment: Study of the legal, economic, technological, and social environment.
2. Competition: Study of companies manufacturing the same products.
3. Consumer: Study of consumer behavior and purchasing habits.

For the study of internal and external viability, a SWOT matrix (Weaknesses, Strengths, Threats, and Opportunities) is used.

Marketing Plan

A document describing the business objectives, action programs, resource requirements, and timing of each action.

Stages

1. Establish Objectives: Define the type of business and its objectives.
2. Situation Analysis: Analysis of the company's environment.
3. Identification of Marketing Strategies: (Product, placement, promotion, price) – choosing the most suitable strategy.
4. Implementation and Monitoring: Verify that the selected strategies are achieving the desired results.