The Business Planning Method

gracer

New member
Hello everyone! :)

Every business has to start with a good business plan in order for the owner to be able to open and run it successfully. It serves as the core guide in starting the business that you want. Each kind of business has its own different way of creating a business plan suited for it. Some business owners even go to the extent of consulting a business expert in creating their perfect business plan. In my case, our family business plan was simple but very specific on the business we wanted to start.

In your case and in your own own ideas, what factors are important in creating a good business plan for a supply chain business?
 

Corzhens

Member
Re: The Business Planning Method

Based on my experience, the first thing in our plan was the market prospects. If there is no prospective market then it's not good to put up the business. Second is the source of supply, not just where to buy the supplies but a good source of supplies. I'd say that those 2 elements are the most important when it comes to the business. The rest of the list can contain, b) the business climate like a rural area is not conducive for putting up a computer store, b) peace and order, c) and some other elements in the planning like capital, government regulations, etc. Having a good plan can send you off to a good start because it is not good to be groping in operating the business.
 

Casiox

New member
Re: The Business Planning Method

When it comes to planning your business, I personally think that there are some important tips every single entrepreneur should take into account in order to make their business run properly and reach the success they want for it.

First off you have to analyze the finances, you have to start taking counts and saving up funds for anything you may need in the future, you have to administrate your money properly, otherwise, your business is going to die fast.

You also need to make a starting plan, you have to take note of the things you are going to buy in order to make your first sales and also the items you're going to buy after you reach some popularity and gain some customers, you do not want to get frustrated when that finally happens so you better be ready.

You have to arrange everything related to transport, it's very important to have some vehicles which you're going to use to deliver and transport your merchandise (this is really important).

Be constant and never give up, this is probably the hardest part, most people quit when they realize they're not having as many sales or customers they thought they would have, but nothing's over yet, keep working hard and try to get your name around, contacts are the key.
That's my opinion, though.
 

neural

New member
Re: The Business Planning Method

Business planning is the backbone of any prospective business build. You need to write off a summary that express what your company is about and which kind of goals are you looking forward with it, then you have to explain with more details what are the objectives and mission of your company, establish what are the expectations with current budget and size, future proyects, etc.

There are a lot to write down into your business planning. But the core idea is to remain focused in a determined planning instead of spread and explore all the possibilities, one thing at a time.
 

CarlosTL

New member
Re: The Business Planning Method

This is very difficult to pull off. Typically when you're just starting you have incomplete information, usually imprecise/wrong initial assumptions and no real past data to build upon, rendering any attempt at making a true plan not very much useful.

Having a business plan is good to present for loan / investors but it is not very important in itself, you will be changing a lot of your assumptions as soon as you start.
 

gracer

New member
Re: The Business Planning Method

You all presented good points and different important factors to consider when it comes to formulating a good business plan. :) The uniqueness of each point you have presented is a determinant that business planning also has to be designed in a way that it responds to each specific business. While there are general factors to consider when it comes to all kinds of businesses, there are also unique factors for each kind of business which need to be considered and well thought of.
 

pwarbi

New member
Re: The Business Planning Method

Every successful business will have a plan that they will try and stick to right from the start. In fact it's very rare that a business will even be able to get the necessary funding without showing that they have a plan in place but I also think that it's just as important to be able to change and adapt to situations that arise as well. A business needs to be able to change it's plan as it goes along, and sometimes while having a plan in place right from the start and sticking to it can work, sometimes things crop up that mean that you have to adapt and change your strategy as you go.
 

gracer

New member
Re: The Business Planning Method

I agree. This is one of the things I really appreciate when coming up with a business plan. One doesn't always have to stick with the plan. Modifications can still be done along the way to come up with the best strategy in starting and running a business. A business owner learns the art of flexibility and adapting to sudden changes in plans, and I think this is a good practice in starting a business.
 

Norm

New member
Re: The Business Planning Method

For me the most important part of the plan is the calculations and finding out the options so you aren't left stuck in dead ends when your main plan doesn't go well. You have to be able to at least predict some of the possibilities and know where you can or should cut corners to compensate when you make your plans and even if you can't expect to come up with all the possibilities I think at least having some estimates and options helps out a lot in the of run.
 

pwarbi

New member
Re: The Business Planning Method

One of the least used plans is the plan to be flexible, and I do think that a lot of business owners are too rigid in how they run a business. Everyone's situation is different of course, but if you start off with a plan and stick to it even though you can quite clearly see it's not working, that doesn't make you a fighter that sticks to your guns, that makes a you a person that can't adapt and adjust and for me it questions if you have the right qualities to run a business at all.

When we all first start out we will be to nervous to change things but as the time goes on, we soon realising that by not changing things then it's that what can cost us the most in life as well as not just when it comes to owning and running a business.
 

gracer

New member
Re: The Business Planning Method

I agree a whole lot with the flexibility thing. I think that this is one of the most important things a business owner needs, especially while running his/her business. There are many changes and uncontrollable factors along the way that being flexible will surely be a great advantage. A business owner has to learn how to adjust to factors he/she can't control in order for him/her to effectively run his/her business despite a lot of changes.
 

Corzhens

Member
Re: The Business Planning Method

I agree a whole lot with the flexibility thing. I think that this is one of the most important things a business owner needs, especially while running his/her business. There are many changes and uncontrollable factors along the way that being flexible will surely be a great advantage. A business owner has to learn how to adjust to factors he/she can't control in order for him/her to effectively run his/her business despite a lot of changes.
Easier said than done, flexibility of the business would largely depend on the business. This is one disadvantage of contractors of government projects because their business plan is fully tied up with what their contact had stipulated. The only flexibility that the business can do is in stocking on supplies and materials. Take the case of a rice supplier of the government's rice control program, they seem to have no leverage or leeway in terms of prices because it has been fixed according to the contract. So what happens if the market prices dictates an increase? The business could suffer but still they cannot do anything except to request for a repricing which is usually difficult to get.
 

pramod

New member
Re: The Business Planning Method

In light of my experience, the main thing in our arrangement was the market prospects. On the off chance that there is no imminent market at that point it's bad to set up the business. Second is the wellspring of supply, not exactly where to purchase the provisions but rather a decent wellspring of provisions. I'd say that those 2 components are the most essential with regards to the business. Whatever is left of the rundown can contain, b) the business atmosphere like a country zone isn't helpful for setting up a PC store, b) peace and request, c) and some different components in the arranging like capital, government controls, and so on. Having a decent arrangement can send you off to a decent begin since it does not regard grab in working the business.
 

pramod

New member
Re: The Business Planning Method

Having the capacity to comprehend what will cost what, and furthermore realizing what will influence the business when you begin it up. you may choose to begin a business some place and there is as of now a law that has been passed where the business assessment will increment 10%. In the event that you figure those things, you can basically figure out what your commitments from the begin.

I feel like many individuals begin their organizations, and after that they simply find out about those things later, and afterward endeavor to manage them when the business is in its basic stages. That is bad for business. You have to know everything that will shield your business from breaking into progress when you begin it.
 

SuperPlast

New member
Re: The Business Planning Method

Hi,
if you want to grow your business in next level, you should promote your business in online or offline. recently i saw some of the companies are promoting here business in plastic carry bags, garbage bags, bio degradable, packing bags etc.. because without plastic bags we cant survive. recently i also promote by business in bags with help of SuperPlast
 

walter

New member
Re: The Business Planning Method

for a starting company (entrepreneurs view)
how big the opportunity is (market)
how much capital do you need (financial capacity)
how to operate will follow(operation)
the rest will follow
START: the effort is very high but the income is very low
SEMI MATURE/MATURE: effort is low but the income is high
 

noah015

New member
Re: The Business Planning Method

Based on my experience one of the first step in the creating new business is naming. You can make an ideal business plan, but lose because company's name or logo are not associated with your product or with quality. Of course at first you should chose a niche, calculate start spending. But you shouldn't forget about creating and promotion brand, what about creating it depend on kind of your business, region e.t.c. About promotion you own brand I can recommend you to make branded production http://www.conceptplus.ca/ like visit card, souvenir production for presents or something similar. This way helps you create a business which people will know.
 

noah015

New member
Re: The Business Planning Method

Based on my experience one of the first step in the creating new business is naming. You can make an ideal business plan, but lose because company's name or logo are not associated with your product or with quality. Of course at first you should chose a niche, calculate start spending. But you shouldn't forget about creating and promotion brand, what about creating it depend on kind of your business, region e.t.c. About promotion you own brand I can recommend you to make branded production like visit card, souvenir production for presents or something similar. This way helps you create a business which people will know.
 
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