We have been doing a lot of research to identify the key factors that stop young people from taking the leap into the entrepreneurial pool and starting their own business. Barriers in the business environment can have a negative impact on entrepreneurs, who generally lack experience and access to professional networks. Some of the socio-cultural aspects that limit young entrepreneurs from living their dream are listed below. Social and Cultural attitudes It has been analyzed that there is a lack of positive attitude to entrepreneurship in various economies, where entrepreneurship can be viewed as a viable career choice. The educational system
“Ideas are easy. It’s the execution of ideas that really separates the sheep from the goats.” – Sue Grafton We often hear that an idea can change the world. It’s true, it can. However, an idea alone does not mean anything. It’s the execution that really counts. Over the years, we have helped several startups and entrepreneurs right from the ideation phase to implementation. One thing, which we can confidently say, is without the power of execution, your ideas are as good as nothing. Our firm belief and our advice to all entrepreneurs is: Execution is more important than Planning.
“ A killer business plan does not guarantee funding but definitely increases your chances to get funding.” Funding depends on a lot more factors than just a business plan. For example, the management team, business model, risk associated and various other factors influences the decision of an investor. With our experience of working with over 250 entrepreneurs across 40 countries, we can definitely vouch that in today’s competitive landscape having a well-documented business plan is definitely a key to attract investor’s attention. Each investor has specific preferences on the business plan format based on the sector they specialize in or
BPlanExperts.com a global leader in business planning and consultancy has started its operations in Bengaluru and New Delhi. The firm already has a presence in Kolkata and New York. Having worked with over 250 businesses across 40 countries, BPlanExperts.com is set to expand its presence across India. Today, start-up entrepreneurs, small and medium sized businesses have become very professional and demand world class services. “BPlanExperts.com is uniquely placed to leverage its experience of working with entrepreneurs across multiple domains and geographies, according to Arnab Ray, CEO”.
Business plans are decision-making tools. There is no fixed content for a business plan. Rather the content and format of the business plan is determined by the goals and audience. A business plan should contain whatever information is needed to decide whether or not to pursue a goal.
This might look apparently as a redundant article to “Usage of a Business Plan” but these two are different. This is mainly from your perspective, why you need a business plan. If someone assumes that a business plan is a management gimmick or a waste of time, they cannot be any farther from the truth. Business plan gives you the direction, the plan and many other vital decision making points discussed below.
There are many important reasons for drawing up a business plan. Some of the most significant are the following: * Getting an integrated view of your business By preparing your business plan, you get an integrated view of all issues regarding your business. For example, it helps you to identify better your target clients, outline your market segment, shape your pricing strategy and define the competitive conditions under which you must operate in order to succeed. Business planning ensures that all these considerations are consistent and properly harmonized. Also, the business plan process often leads to the discovery of a