A Few Business Planning Tips
A global business plan is required by those entrepreneurs, who are seeking business opportunity internationally. It requires a lot of energy from entrepreneurs and executives of a company, to do research and study of the intended market. A global business plan is not
A global business plan is not just document of your strategies; it actually becomes your communication throughout global operations.
Although, the basic function of the global business plan remains the same like a normal business plan, but it becomes different in-terms of sales and marketing strategies that are focused towards attracting international market.
Following are some of the attributes of the global business plan.
- It focuses on factors that require achieving success globally by evaluating intended market situation, objective based on reality and commitments with suppliers.
- It is targeted at a potential market internationally. Focus on intended market’s customer, pricing constraints and strategy to market your product.
- It covers difference of currency between the global operation of a company and any financial or legal obligation that exist in the international market.
Preparing a global business plan is a difficult job, and its outline depends own various factors. Following is the outline of a global business plan that is common in most cases.
Starting from title page; the summary will tell about the goals and targets set by the entrepreneur. Following are the main components of the summary:
- Business Overview: Description of the company, market, and product that is in operation.
- Financial Highlights: Description of important financial results such as sales, profits, and capital growth
- Funding requirement: Statement regarding investment requirement for business operations such business expansion, controlling losses and or simply for a new startup.
Description of Market:
This section will focus on analysis derived from in-depth research and market study where the company is operating or planning to operate. This section covers following key factors of the market:
- Market Size & Share
- Positioning of Products
- Competition with Key Players
Operations and Management Plan:
This section deals with business operation factors such as supply, production, marketing, and distribution. Management plan covers strategies and policies that management will implement to ensure smooth running and achievement of targets.
This section describes organizational structure based on personnel hierarchy with respect to responsibility and designation. It provides a good look for the investors to make them understand that their funds will be utilized by competent and experienced personnel.