Entrepreneurship Development
8
Entrepreneurship Development Topics Pitfalls to avoid in making business plan Check list of a business plan Presented to Prof. Dr. Kazi Ahmed Nabi Dean, FBA, USTC Presented by Mehedi Hasan 1114 7th Semester [email protected]
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Transcript of Entrepreneurship Development
Entrepreneurship
Development
Topics
Pitfalls to avoid in making business plan
Check list of a business plan
Presented to
Prof. Dr. Kazi Ahmed NabiDean, FBA, USTC
Presented by
Mehedi Hasan1114
7th Semester
Entrepreneur
He is a person who establishes
business unit and utilizes the other
factors of production like land, labor
and capital.
Entrpreneurship
The process of organizing,
managing and assuming the risks
of a business.
Pitfalls to avoid in Making Business
Plan
Pitfalls 1: No Realistic Goals
- Lack of attainable goals
- Lack of priorities
- Lack of action steps
- Lack of a time frame
Pittfals 2: Failure to Anticipate
Roadblocks
- No recognition of future
problems
- No contingency or alternatives
plans
- No admission of possible flaws
or weakness
Pitfalls 3: No commitment or
dedicatoin
- Starting is good but the
spirit an initiative declines
- Desire to make a “fast
back” from a hobby or a
“whim”
- No desire to invest
personal money
- Excessive procrastination
- Missed appointment
Pitfalls to avoid in Making Business
Plan
Pitfalls 4: Lack of Demonstrated Experience
- No experience in business
- Lack of understanding of the industry
- No specific area of the venture
- Failure to take clear picture of hows and whys of venture
implementation
Pitfalls 5: No Market Niche
- Uncertainity of product customer
- Unclear about product quality
Consider the customer through wrong perception of the producer
Checklist of a Business plan
1. A business plan to be
complete in order to satisfy the
needs of the entrepreneur
should include the following:
a. Introduction
b. HIstory
c. Description of the
business
2. Basic consideration
a. Acceptability of products
or services
b. Legality of products or
services
3. Accounting and Finance
a. Balance sheet
b. Income statement
c. Ratio analysis
d. Cash flow analysis
e. Break even analysis
f. Profitability
The art of preparing a good business plan should include nine section:
introduction, basic consideration, competitive advantage, production,marketing, management, accounting & finance, conclusion and appendixes.
This be seen below:
Checklist of a Business plan
cont..4. Competitive Advantage
a. Potential market share of
the proposed enterprize
b. Market share of the
existing company
c. Likely response of the
competitor
5. Production
a. Choosing a product or
services production
delivery
b. Maintenance and
servicing
c. Insurance
d. Controlling wastage,
pilferage etc
machinery
g. Quality control
h. Delivery schedule
6. Marketing
a. Product or service
description
b. Advertizing and
promotion
c. Price determination
d. Distribution
e. Target customer
f. Market
demand/competition definition
g. Marketing area
Checklist of a Business plan cont..
7. Buying habits and capacityof target customers.
8. Management
a. Management skillrequirement
b. Personnel-managementpolicies
c.Organizational hierarchycommittees
d. Customer relation policies
e. Inventory control
9. Conclusion
a. Individual and overall
impressionof the study by theconsultant
b. Benefits gained byowner
c. Additional referencesfor business owner on the
subject matter
10. Appendix
a. Maps
b. Trade associationmaterial
c. Layouts
d. Flyers
