Posts Tagged ‘Business Tips and Info’
How to make a technical study of the business plan
Once you as an entrepreneur has made a thorough market research, which has led you to find your Target, or niche market they will head your products services, you must start the technical study of your business plan. This document is very important because it defines how to produce what is thought to sell and which already has found a market in market research.
The technical study is nothing more than the statement that as an entrepreneur should do, of the aspects to consider for making the product or service delivery, as well as the processes involved there. Understand that if you’ve chosen a business idea is because it is known or can investigate how to make a product or service can deliver better.
Basically in the technical aspects is defined as: Where to place the company or project facilities? Where to get materials or raw materials? What machines and processes used? What is the state of the art of existing technologies? What staff is needed to carry out this project?
Answering these questions is crucial, as these will be inputs to the organizational and financial study, to establish investment budgets and expenditures.
This study also analyzes the elements that have to do with the basic engineering of the product and / or process you want to implement, for it have to do the detailed description thereof in order to show all the requirements to make it work. For this, is of vital importance to the analysis of the optimal size of the plant which should justify the production and the number of consumers who will not to risk the company in creating a structure that is not supported by demand, with which can generate the “installed spare capacity,” which in the financial study will be reflected to be a substantial increase in costs and expenses of the business plan.
So the business plan must show its technical study different alternatives for the development or production of goods or services, so as to identify the processes and methods needed to achieve them, hence make it necessary machinery and equipment suitable for the production, identifying the technologies that have become obsolete, and which exist today tip. Also, you have to take account of the skilled labor to achieve the objectives of product operation, the space organization for implementation, identification of suppliers and creditors that will provide the materials and tools to develop your product optimally, and to establish an analysis of the strategy for managing the process capability to meet demand over the planning horizon. This will have a basis for determining production costs, costs of machinery and the manpower.
If market research and has provided the tools necessary to give as entrepreneurial response to the question who to sell?, The technical study will give answer to the question how? For them initially must identify the inputs and supplies needed by the business project, the matter should identify sufficient supply in quantity and quality of raw materials required for the project. Hence the importance of knowing the suppliers, prices, quantities of supplies and consumables. At this stage it is suggested to have supported through the contributions to establish a commitment to the future supplier.
For technical baseline can use a box containing items such as supplier, input, presentation of the input, unit of measure, quantity, unit cost and total cost. The correct filling out this information will give optimal knowledge for initial drafting more appropriate and meets the needs of the project.
Component of a market analysis of your business plan
I propose something: what if you do the first component of a market analysis of your business plan ?
I invite you to investigate, indagues, ask, read and seek information on the sector that you like, where you have skills, which are and perceive that there are unmet needs to solve and present great opportunities for you and yours.
Once you have all necessary information, resuelvas whatever you ask in the following steps:
1. Definition of objectives. Define the objectives to be achieved with the development of your project, taking into account social, economic, environmental and others you consider relevant.
2. Rationale and background. Justify the reasons for the development of your project taking into account social, economic, environmental and other relevant you consider the justification for your project. It also relates the history of the project.
3. Analysis of the sector. State the study on the technological and industrial development of the sector performance of the sector in the last three (3) years, its evolution and expected trend in the short, medium and long term.
4. Market analysis. Develop a diagnosis of the current structure of the domestic market and / or countries objectives, define target market, target market justification, estimating the potential market, apparent consumption, per capita consumption, extent of need, estimate segment / niche market (size and growth), consumer profile and / or client. Imports and exports of the product / service at the national level and target markets (countries); related substitute products and complementary products.
5. Competitive Analysis. Identification of key participants and potential competitors, analysis of competing companies, guilds relationship existing cost analysis of my product / service from the competition, analysis of substitute products, analysis of sales prices for my product / service and competition, competition image to customers, which is directed segment competition, position my product / service over the competition.
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Posted in Business Ideas, Entrepreneurship, Small Business | 
Tags: Business plan, Business Tips and Info, Entrepreneur, Market analysis, Niche market, Project, Target market | 
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How do the market research business plan
A business plan is a written document that you must have if you want to start a business . You do it because often commit the mistake of not having clarity for sure the type of business you want, do not know your target market, also not know the people or institutions that can help viable your business idea , do not know who can make up your team work, do not know the machines or equipment you require for the production process of the business, do not know how the company is legally registered and also have no clear gains or losses can throw this initiative.
In these times of constant change where the only constant is change, is a mistake to “bet” to all the markets, trying initially to get to various niche markets and above all this, have no differentiating factors of your business versus the competition.
This is where the business plan becomes a management tool that enables you to have complete clarity of what your business is, will and hope to project to your customers, suppliers, competitors, substitutes, government and community. Do not see the business plan as a simple “text”-written on many occasions to fulfill a simple requirement, but as a “weapon” you can use whether you’re talking to investors, partners, prospective employees, suppliers or even with the same clients.
Then, start your business plan you have to start a research process that take you to successfully determine the type of business you have, will head the target to which your product or service, who (individuals or entities) can support you in your entrepreneurship, who will be at your side as a team and how that equipment will use throughout the production process and its different cycles, legal business name and will have your new company, which must record and last but least, that state of profit / loss and balance sheet has to throw this new business.
This process can take its research through the initial search for information in two (2) ways: 1. You can check out books about your topic of interest magazines (local, regional and national), specialized texts, sectoral analysis of your specific area, books on market behavior, and also using the internet. 2. Perform a process that involves the collection methods first-hand information, such as: the survey, interviews, direct observation. These methods can direct them to your prospective clients, your suppliers, your competitors and the community at large that you feel is necessary to question about the new entrepreneurship, and where you can collect the maximum amount of information that will be useful for make your own decisions with greater assertiveness possible.
Once you have analyzed the information-previously collected, you can start with the market analysis of your business plan . Start by clearly defining the objectives of the project, carried out the rationale and background of it, also performs sector analysis, market and competition.
How Your Potential as an Entrepreneur
I propose something: what if initially answer the following five (5) questions to gauge your potential as an entrepreneur?
1. What unmet needs you identified in your environment (community, neighborhood, country, municipality, etc.).?
2. Have you thought why you have these unmet needs?
3. What have you done research on these unmet needs?
4. What do you propose initially to meet those needs?
5. Why are these proposals could respond to these unmet needs?
Friend entrepreneur, you can remember this exercise and those found in other publications of this blog and send them to me email eapalacio@instructorenlaweb.com , I’ll be reviewing it and collaborate the best to build this dream together have own business.
Also, if you liked this article is important for me to let me know with a comment. This will be answered as soon as possible.