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Business plan in Pakistan
Business plan in Pakistan
There are some basic requirements when starting a new business in every part of the world. One of the universal aspects of starting a business is to provide a business plan. This is basically a written report which shall contain everything related to your business. It contains your company overview, equity plans, business activities, missions and visions for your company, the target market and how you plan on capturing them and so on. It is basically a portfolio containing everything related to your business that will be submitted to your potential investors to make them invest with you.
So if you are planning on starting a business in Pakistan then you should start working on your business plan. Listed below are some of the essential points that you must include in your business plan.
Cover Page- One of the most important factors about any sort of plans or reports is the cover page. It may seem silly at first but it makes a good impression on your investors and shareholders. The cover page should contain your contact number both personal and company. This ensures that if your investors have any queries then they can easily reach you without going through the entire plan for your contact information.
Executive Summary- Arguably the most important part of your business plan is the executive summary. This is the one part where you should spend most of your time and effort on. In the majority of cases, investors will only take a look at the executive summary before deciding if the entire plan is worth reading. The executive summary should contain a little introduction about your company, what are your goals for the business and how you want to implement it, your financial situation and what improvements you want to make. Let them know all the company strengths and in what way you plan on utilizing them. The executive summary is going to make or break your case for these potential investors.
Company Overview- Since you are starting off a new business in Pakistan, most o the local investors probably haven’t heard of you or don’t know much about you. This is the part where you get to talk about your company. Let them know when it was formed, how many employees are currently there, what the vision of the company is and where you want it to be in the next five years and so on. Remember, this section will be the first impression you will get to make on your investors in Pakistan, so make it special.
Equity-The whole point of a business plan is to attract new investors. They will be deeply interested in the equity situation of the company. So instead of making them ask all the questions, you should put the facts and figures in front of them. Explain the current financial conditions. Let them know how much assets the business has and how much revenue it is generating. Include long-term loans and how you envisioned paying them off. And finally, include a section where you propose how much capital you expect to raise from them and the return on investment they are likely to receive.
Industry Analysis- Pakistan is a country where the industries are very lopsided. Some industries are blooming while others seem to have no growth potential. The industry analysis should help your investors understand where you want to venture into. Talk about in depth about the current conditions of the industry in which your business is active in. Mention any sort of trends or revolutions that may come in that industry and why you should start working now to capture that market.
Customer Analysis- With the industry analysis out of the way, you now head over to the customer sector. The people of Pakistan can be very hard to pursue, especially if your product and services have too much western influence and go against their traditional beliefs. So you will need to tread this section very carefully. Come up with your target audience and mention how you are targeting them i.e. geographically, demographically, etc. The analysis should also include how you are planning on capturing the market otherwise the investors won’t have any faith in you to invest in your business.
Competitive Analysis- As mentioned earlier, Pakistan has a very lopsided market. The industry that is doing well has got a lot of companies operating there while the ones that are average have little competition in them. So based on that, you need to come up with your competitive analysis. This is crucial because you will be highlighting your company here and let your investors know what it is that makes your company stand apart from the rest of your competitors. Highlight the factors which will enable you to capture the market and generate healthy flow o revenue and make all your investors and shareholders very happy.