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Before starting your business, make sure to have a comprehensive business plan written by an expert. It helps you clarify your business idea and list down your long-term objectives. It provides a blueprint for running your business and a series of benchmarks to track your progress.It can be the single most important document for your investors, banks as well as key stakeholders.
To start off, begin with “why” are you getting into your desired venture. What value are you going to add to the market that you plan on entering? How are you going to be different from the competition if there is any? It is also important to highlight any weaknesses that may exist from the beginning and what is the plan to overcome these.
A business plan will be incomplete without the following sections: the business and the product, markets (geographical/demographical) and competitors, sales & marketing strategy, human capital planning, operational process, realistic financial forecasting, capital options and risk assessment.
There are plenty of templates available online for making a business plan, however, it is always best to take assistance from a Professional who has the first-hand experience of the market you plan to enter. There are a handful of consultancies in the UAE who can furnish a proper business plan, A&Z Management Consultants is one of them.