Book review: Writing Winning Business Plans

4.Support documents (Supporting Material) Different according to the type of business, generally there is a history. Reference letters, credit reports, legal documents, agreements, contracts, etc. Just compile the relevant documents to reference the 3 above.

• learned thatDoing business for money It is not a mission that is strong enough to fight our problems. A good business mission must be able to meet the needs of our customers. The more you respond. The more a business makes, the more money it makes. Business start time Please think of people before money. The more people a business serves, The more money will flow in.

• learned thatAn executive summary is a summary of business information that mentions only the important details of the business. It tells the whole picture. considered very important Because it is the first part that investors and financial institutions will read as soon as they receive the business plan. Even in the first part of the plan But please write it in the last place. Because if there is something to adjust It will be easier to do. Things that must be specified in the executive summary include name, business type, form of establishment. Required funding information Both joint investment and borrowing Purpose of using the money Reimbursement plan Returns that investors or financial institutions will receive Including ideas for starting this business.

• learned thatWe don’t have to be good at it. There are highlights in every story. For example, we might own a car repair shop that doesn’t know how to repair cars. But has leadership skills, good at marketing The remaining work is hired out to other employees to do instead, etc.

• learned thatA disadvantage of new entrepreneurs is their lack of experience in business management.and history of success This problem can be solved by setting up an advisory board of successful entrepreneurs who are ready to provide guidance throughout the startup phase.

• learned thatForm of sole proprietorship or general partnership It does not help protect personal assets from the liabilities of the business at all.

• learned thatSupport that requires co-ownership or joint investmentThat means we give up part of our business ownership in exchange for financial support. By dividing ownership in the form of “shares” as agreed upon. Investors will receive returns in the form of dividends from the profits of the business.

• We learned that if we prepare a business plan for management, it must showAnnual estimates But if we prepare a business plan to attract investment capital, the performanceMonthly estimateswould be more appropriate

• Learned that the equation to findBreak-even point Can be thought of from = Fixed costs + (1-variable costs/sales)

• learned thatBusiness plan for managementThere is no need to enter our history. Reference letter Report financial characteristics, no need at all.Plan to raise fundsDifferent information is required depending on the source of loan or investor. Prepare information appropriate to what the reader expects to know and the situation we face.

This concept makes us understand the dimensions before starting a business. Because doing business well, you must always have a good business plan first. Doing business without a good plan to support it In addition to not being able to apply for a loan There is also a risk of working without direction.

Therefore, having a business plan It’s not just about successfully applying for a loan. But it is the pillar on which we will follow the plan we have laid out. Including a backup plan for when what we have done is not as expected.

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