Management

Concepts
And Principles.

A business must
have a business
plan. If there is no
plan, then there is
no business.".

Determine the business you want to start and

determine:
Your qualifications for the business.
The feasibility of making that business
profitable.
Conduct research on your industry, target
market and
competition.
Select a location and analyze it for traffic,
parking, and customerand delivery access.
Investigate all start-up procedures specific to
your industry.

Checklist:
Write a business plan that includes your strategies
for management, marketing, production and
financial contingencies.
Develop a list of all potential monthly expenses.
Determine potential sources of financing for your
type of business.
Develop a list of all equipment and purchases
required to
start your business. Identify the costs of each.
Research potential suppliers and investigate credit
terms with each.
Develop descriptions of all duties within your firm
and
determine the person responsible for each. Identify
future educational needs.

FOUR AREAS OF
INTEREST IN
STARTING A
BUSINESS
Research
Investment/startup
Marketing
Savings/expansion

Description of your business and industry

Your business
The industry, its history and its anticipated future
Features and advantages of your products/services
Description
Competitive advantage and market niche
Proprietary position
Future potential
We should consider including some products or sales literature as
exhibits.
Market research and analysis
Existing and potential customers and markets
Critical customers (over 10% of sales)
Market size and trends
Competition and strategy for competing
Estimated market share and sales
Marketing plan
Marketing strategy
Pricing
Sales tactics
Service and warranty policies
Advertising, public relations and promotion

Product design and development plans

Development status and tasks
Difficulties and risks
Costs
Operations plans
Production or service delivery process (flow charts may be
helpful)
Geographic location
Existing facilities and projected improvements for future needs
Strategy and plans
Labor force
Product/service distribution
Availability of material and supplies
Dependence on critical suppliers
Unique or novel processes used
Management team
Organization and ownership (charts are helpful)
Key management personnel (credentials)
Management strengths and weaknesses
Management compensation
Board of directors
Key business advisers
Professionals retained (accountant and attorney)
Include personal financial statements of principal owners as
exhibits.

Overall schedule
Timing of critical activities before opening (obtaining funds,
incorporating the company, selecting the location, ordering
supplies, hiring employees, starting operations)
Timing of critical activities after opening (expansion,
product/service extension)
Response to critical risks and problems
Working capital shortage
Price cutting by competitors
Unfavorable industry-wide trends
Design/operating costs over estimates
Low sales
Difficulty obtaining supplies, raw materials
Difficulty obtaining credit
High inflation
Lack of trained labor
Recession
Financial statements and projections
Five years of annual historical financial statements (or from the
period the business has been in operation, whichever is shorter)
Profit and loss forecasts for each month of the first full year and
for each of the first three years of operation

THANK YOU!!
Made by:Palak Jadwani(10),
Purvi Mevada(19),
Chinar Sharma(41),
Amrit Raj(33),
Dayashankar Nair(04),
Jagdeesh Srivastava(11)