ANALYZING BUSINESS OPPORTUNITIES AND BUSINESS PLANNING ASPECTS

Abstract

The ability to incorporate innovative, creative, and brilliant ideas as well as ideas with high economic and commercial value into a mature and realistic business plan is one of the keys to successfully starting a business. With the existence of business opportunities that we will run. Moreover, if you follow up by writing down these ideas so that they can be shared with others. What plans a business will do in the future includes how to allocate resources, pay attention to important factors, and address problems and opportunities. A business plan generally includes a Summary, Mission Statement, Key Factors, Market Analysis, Production, Management, and Financial Analysis, including Break Event analysis, among others. If we are going to run a business, a business plan is absolutely necessary because it functions as the business equivalent of a map and compass. We can identify our main business goals, prioritize tasks, and estimate cash flow with the help of a plan. Meanwhile, if we have a good business plan, our chances of success will be higher. A good business planning process is more than just a plan. Examples of good business plans are: easy to use (with practical and convenient features); Specific (specific in terms of time, personnel, and budget); Complete (complete with all components) and Realistic (in terms of goals, budget, and time targets)