Main sources of information for business planning
Wednesday, 16 November 2011 04:08

Main sources of information for business planning

Any business plan reflects quantitative and qualitative characteristics of a project, which emphasize the profitability of this business without considering existing risks. The core of the business plan is the information which ensures the success of a project.
This information includes:

- marketing research;
- expert opinions;
- information on how investors can exit a project.

Marketing studies reflect the capacity of the market. The capacity of the market is the potential volume of sale of products and services determined by the market demand. To determine the market capacity you need to undertake a number of studies based on specific techniques. In the first place you need to research supply and demand. In this case a consumer survey can serve as the primary source of information for determining the market capacity. This survey should have a certain structure.

Initial market research also makes it possible to determine its market conditions: the economic situation in the market, the demand and supply, market activity, price fluctuations, sales.

The next source of information for writing a business plan is various letters of recommendation from stakeholders on the relevance of the chosen project. If your project is innovative, you need to find companies dealing with expertise similar to your innovation project, and take their expert opinion about your project. It is imperative that an expert opinion was positive. If it is possible for your innovation to go through the certification procedure, do that before writing a business plan which will make your presentation more weighty and well-grounded.

To attract attention to your project, you need a good description of exit strategies for your investors. Information that will win confidence of your business plan's external users is the articles of association, an extract from the record in the Uniform State Register of Legal Entities and other documents proving impeccable past and future of your company.

Information mentioned above should be of high quality and easily verifiable.
Last modified on Wednesday, 16 November 2011 04:36

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