Importance of Business Plan for Starting a New Business

This presentation discusses the importance of a business plan for starting a new business, with a focus on a small start-up cafe called 'Coffee in your own style'. It covers the goals, methods, and time frame for achieving success, including market analysis, customer preferences, and brand image. The presentation concludes that a clear plan and strategy are essential for achieving business goals and objectives.

New Business

Table Of Content
 Introduction
 Business Plan
 Conclusion
 References

Introduction
Business refers to an organisation or enterprising entity which
is engaged in commercial, industrial and professional
activities. It is an occupation or trade and the purchase and
sale of products and services in order to make profits.
Business is important because it helps in terms of improving
the quality of life in various ways.

Business Plan
A business plan refers to the formal written document which
contains the goals of a business, methods for attaining goals
and the time frame for achieving goals into positive manner.
The business type which is followed in this business plan is
basically a small start up for a cafe. This cafe is named as “
Coffee in your own style”.

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The cafe provides different kinds of coffees and range of coffees to their
customers in order to give them an enjoyable experience. The cafe not
only provides different kinds of coffees but also provides fast food
products as well so that customers can finish their small starvation on
immediate basis with these small refreshment items. For starting a cafe
it is necessary to deeply analyse the market into positive manner so that
they can identify their start up competitors and what is required to do the
cafe in order to provide products and services into unique manner.

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In order to deeply analyse their customers they have taken initiative for
understanding their customers through their specific tastes and
preferences as well. The cafe has also tried to customise their services
so that people realise that the cafe do care about their taste and
preferences into positive manner. The operational plan for cafe is
designed in such a manner that they communicate to their customers for
purpose of starting the cafe. The cafe has targeted a goal within two
years to achieve first-rate live entertainment without a cover charge.

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In terms of growth and development of a cafe, it is required that cafe
has to focus on specific customers and need to focus on building their
brand image so that cafe comes into the eyes of number of people.
They have to think about their sponsors and investors and also need to
manage their reviews whether it is on online basis or on offline basis.

Conclusion
The above stated report concludes that business is very important within an
economy for their further growth and development as well. It has been concluded
that for starting a new business it is required that to make a proper plan and
strategy for it so that business can achieve their business and goals into realistic
manner. It has been determined that business should be clear about their goals and
objectives as well.

References
 Andreassen and et.al., 2018. Business model innovation and value-creation:
the triadic way. Journal of Service Management.
 Holotiuk and et.al., 2017. The impact of blockchain technology on business
models in the payments industry.
 Kahre and et.al., 2017. Beyond business-IT alignment-digital business
strategies as a paradigmatic shift: a review and research agenda.
 Lewandowski, M., 2016. Designing the business models for circular
economy—Towards the conceptual framework. Sustainability, 8(1), p.43.
 Saura and et.al., 2019. Digital marketing strategies based on the e-business
model: Literature review and future directions. Organizational
transformation and managing innovation in the fourth industrial revolution,
pp.86-103.

Thank You