Winning Business Plan

May 12th, 2015
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Strayer University
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Analyze the steps involved in crafting a wining business plan and make at least one recommendation for improving the process. Explain your rationale for making the recommendation you did.

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Winning Business PlanAnalyzing the Business planThe success of any business is crafted by making efforts in selecting the right business idea. Selection of the target market, financial assessments, risk managements, supply chain methodologies and organizational vision are few important factors to be analyzed for a winning business idea. Formally written proposal clearly describing all these assessments and making recommendations for further improvements is considered a very competent tool for making these assessments possible. Personal EvaluationA winning business idea starts from the evaluation and visionary clearance of the idea holder or the entrepreneur. It should be of the prime importance to understand how much interest an individual have for the business and the reasons for starting it [Candice Landau (2015)]. Market AssessmentMarket assessment includes understanding of the market size and target audience. A business cannot make great profits unless it has very strictly identified market to generate its sales. No organization has unlimited resources and financial budgets to reach every single individual for sales and promotions so successful organizations narrow down their market and audience and hit it with the available resources and generate maximum profits and sales [Candice Landau (2015)]. Legal RegistrationLegally registered organizations can easily build trust among their audience and it can help the organization to keep an improved system of

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