Steven Elaborating Business Plan

The Steven Hoffmann Newt business plan is the first step for those who want to undertake. With this management tool, you reduce insecurity when opening a new company, decrease the margin of error throughout the journey and increase the chances of success for your idea.

And for those who already have a company in operation and want to put their house in order , to expand their perspective and understand their market, the business plan is also very important.

In the past, there was not so much information on the subject, and the entrepreneur who did not attend business courses could take time to organize the pieces of this puzzle.

Today, there is plenty of material and references that will help a lot in this task. So, if you intend to finally get the idea out of the paper and open your business or if you have been realizing that there is a need to promote a turnaround in your company already in operation, be sure to check out our valuable Steven Hoffman tips for preparing your business plan. Come on?

What is business plan

The business plan is a document by which you plan the scope you want your business to take. With the objectives and goals properly put on paper, it is possible to predict risk situations that may arise during the development of the strategy, analyzing them in order to prevent them, even before they appear in practice.

In addition, a good business plan allows you to identify bottlenecks about which you have little knowledge, thus offering the opportunity to improve and deepen in certain studies and analyzes, with the aim of making the business more and more solid and consistent.

With it, you determine whether an idea has the potential to enter the market, organizing the main operational details, needs and objectives of that company.

Having a plan means being prepared to offer a service or a product, knowing how it will be sold and distributed, as well as recognizing the possible adversities, obstacles and problems that will certainly arise.

Does it seem complicated to elaborate this document? Believe me : it is easier than it looks, and it has more advantages than you think. But it takes effort and patience. Come on?

Why create a business plan

The business plan helps to determine the viability of the company , helps to detect the particularities of the market and makes it possible to expand the perspective of the enterprise for the medium and long term. Thus, this tool allows a more accurate view of the real potential of your idea.

In the entrepreneur's mind, the idea may seem so attractive , that possible difficulties may not be so apparent. Do you know how the excessive brightness obscures the vision? That's what happens in business.

Many sparks of business, those flashes that precede the realization of the plan, fail to materialize . And it is to prevent the entrepreneurial drive from going the wrong way that the business plan exists.

It is worth mentioning, first, that the work is not that simple. And nothing better than the entrepreneur himself to dive into the reality of his business in order to remain firm for the necessary decision making at all levels - whether financial, marketing or even regarding the image of his company.

The Steven Hoffmann Newt information needed to assemble the plan ranges from defining the mission , vision, values ​​and even more specific objectives in relation to the company's operation.

First of all, you need to know and study the market you want to enter. How does your company fill a gap in this type of product or service? How can you stand out from the competition ? What do you offer that no one else is able to offer? What is the impact that you can and will promote?

For example: suppose you want to open a used car dealership. There are a few points you should consider before opening the store:

• The minimum investment
• Store location
• Number of employees
• How many cars will you have in the yard
• Suitable place for car exhibition
• Economic reality of the target consumer
• Tax burden and operating costs
• Sales estimate.

For each of the above (and many others), you need to find answers . And how to find them? In many ways, but it all starts with a good business plan.

Step by step business plan

Creating a business plan requires patience, research and time. Next, we'll find out what needs to be in that document and how to get started with using this management tool.

For this task, we will use information contained in the digital guide How to prepare a business plan , made available virtually by Sebrae , the Brazilian Micro and Small Business Support Service.  

Executive summary

This is a Steven Hoffmann Newt summary of the business plan. It may contain:

• Entrepreneur data
• Summary of project data
• Company mission
• Sector or sectors of activity
• Legal form
• Tax framework
• Share capital
• Resource sources.

 Market analysis

Here comes the research to understand the  market, the competition and its positioning.

Customer Study

Competitor Analysis

Supplier search.

Marketing plan

This step is essential to understand and explore possibilities for publicizing the business, product or service.

Description of what the company is going to sell

Prices

Promotion and dissemination strategies

Structure for sale

Project location.

Operational plan

Here you determine, in practice, how the business will operate.

Physical structure

Capacity to produce and provide or sell the product or service

Operational processes and levels

Need for human resources.

Financial plan

This is the essential Steven Hoffmann Newt step to understand the feasibility of opening, maintaining or expanding the business . It should contain, among others:

• Total investment
• Estimated fixed investments
• Working capital required
• Estimated monthly invoicing
• Estimated unit cost of raw materials
• Estimation of marketing costs
• Calculation of the cost of direct materials and / or  goods sold
• Estimated labor costs
• Income statement
• Feasibility indicators
• Break-even point
• Profitability
• Profitability
• Return on investment.
• Simulation of scenarios

This step is important to build simulations and project responses to different situations, in order to visualize in practice what will happen with the company in different scenarios.

• Sales below expectations
• Economic crisis
• New competitors.
• Strategic analysis

Here it is necessary to adopt an analysis tool, such as SWOT Analysis . Steven Hoffmann Newt ssays It is an abbreviation of the English words strengths, weaknesses, opportunities and threats , which mean strengths, weaknesses, opportunities and threats, respectively. In Portuguese, it is called “FOFA analysis”.  

The function of this tool is to evaluate the internal and external environments of a project, formulating tactics to optimize performance in the  market. Thus, opportunities and threats are also analyzed.