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עמוד הבית > Writing business plans
Writing business plans

From my point of view, preparing a business plan is the foundation for any business, big or small, and an essential management tool.

The purpose of the business plan is to define in advance the company's goals as well as defining the day-to-day modus operandi with an eye to achieving these goals and primarily to enable one to track monthly the program against the actual performance. This gives the business owner an important control tool to ensure attaining the goals and requirements laid down.
Because of the essential importance of the business plan, it must be prepared very carefully, foremost by professionals who are skilled and experienced.

In addition to the importance of the business plan in the day-to-day running of the business, there is also the need for preparing one when negotiating with banks concerning the required credit line, when examining the possibility of adding an additional business partner, when assessing business valuation for whatever reasons, and in additional cases.
The business plan I prepare for each client is based on the following principles:

The first stage
At this stage it is important to focus on defining the goals and objectives to which the client aspires. The definition of the goals and objectives is in monthly terms for the immediate year and in quarterly terms for the two years thereafter.

The second stage
Once the goals and objectives have been defined, one can progress to the second stage which is planning the application and steps necessary in order to meet the goals and objectives which were laid down.
In the second stage a modus operandi, or operation method, needs to be defined, in other words, the business positioning, defining the different types of clients and the sales and marketing policy, defining the different types of suppliers, the number of employees (while at the same time defining the workers' areas of responsibility), the optimal stock and inventory levels, with regard to the raw materials as well as the finished products. One must also pay attention to and deal with efficiency and lowering operating and administrative costs, discontinuing money-losing activities while at the same time increasing the proportion of the more profitable activities.

The third stage
The third stage is preparing for the future profit and loss statements of the business.
At this stage, one checks the profitability achieved by applying the data from stages one and two.
The stage is characterized by examining the business activity outcome, stopping activities causing losses, or those which are not profitable enough and also by finding methods and activities to enhance the business profits.

The fourth stage
The fourth stage is preparing the future cash flow of the business, necessitated by the business activity as defined in the third stage.
At this stage, the business will be tested to see whether it can implement the program by means of its available funds (its equity and credit received from banks or other sources). If the amount of credit available to the business does not suffice to carry out future activities, then at this stage it should be decided on ways to bridge the gap, in other words, to find additional financing, the method of financing (long or short term), the method of linkage for the additional credit as well as the ability of the business to put up securities to guarantee the new credit.

The fifth stage
The fifth stage is assimilating the plan.
After completion of the fourth stage in preparing the business plan, it is important to present it before the key people in the business, to clarify for them the significance of the plan selected and clearly define for them the tasks which they must fulfill. This part is of utmost importance for the success of the plan and for meeting the objectives which were established.

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