Entrepreneurial Planning
Laying Out The Business Plan
An entrepreneurial mind is rare, and hence such a mind that comes up with a start-up idea has to be nurtured – to ensure that the idea flourishes, and does not die down due to lack of resources or a proper entrepreneurial planning process.
Hence, it’s highly essential to take care of your business idea and groom it at each level by having clear answers to the following 4 questions of WHY, HOW, WHO and WHERE.
Four questions you need to answer about your business idea
Planning Process
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1As an entrepreneur the first question that you need to ask yourself is “why have I come up with this Idea?” Whether it’s solely for wealth creation or wealth creation coupled with Job creation, with an intention of fulfilling and satisfying customer needs. Have a clear answer to this question so that your vision ahead is clear and not disillusioned.
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2Ones’ you have a clear vision, try to work out a detailed skeleton of your entire planning process inclusive of all the parameters required for a business setup. This would help you to plan out the entire process in a systematic and well defined manner.
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3At every stage of our life we have had to take guidance from individuals and experts who have been instrumental in shaping our lives and careers today, and the same goes for budding entrepreneurs too. Hence it’s important to source well qualified, trained and experienced mentors, specialized at various aspects of setting up a business, to guide you through the entire process.
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4A Business idea meets its completion only if it has the financial support to function and to stand its ground. Hence finding the perfect funding partners and sources forms a crucial aspect of the entire process.
