Growth Sustainable Business Plan

This report discusses the creation of a growth sustainable business plan for a new organic beauty products business. It covers topics such as proposed future business, customers, competitors, skills analysis, funding sources, and management information systems. The report also includes a vision for the business idea and concludes with a summary of the key points.

Growth Sustainable Business
Plan

Table of Contents
INTRODUCTION...........................................................................................................................1
MAIN BODY...................................................................................................................................1
Proposed Future Business............................................................................................................1
Customers....................................................................................................................................1
Competitors..................................................................................................................................2
Skills analysis..............................................................................................................................2
Projected 2 year profit and loss account and proposed 2 years cash flow forecasts including
break-even....................................................................................................................................3
Finding, evaluating and selecting suitable sources of funding to grow the business opportunity
.....................................................................................................................................................3
Your plans for obtaining your resources, both tangible and intangible between now and either
1-2 year ahead..............................................................................................................................4
The type of organization and the management information systems required to effectively
control the business......................................................................................................................4
Vision for your Business Idea......................................................................................................5
CONCLUSION................................................................................................................................5
REFERENCES................................................................................................................................6

INTRODUCTION
A business growth plan is a type of framework used by the companies for meeting the objectives
and setting strategies for achieving the goals. For growing a business more successful there are
four types of strategies like market penetration, market development, product development and
the last one is diversification (Fani, and Subriadi, 2019).in this report we will analyze the skills
and resources required for developing a business and plan the development of a business.
MAIN BODY
Proposed Future Business
The business idea that an entrepreneur is having in order to establish a new business is of selling
organic beauty products. The name of the new business started is supreme sparkle. The main
aim of establishing this business was to provide organic products to the customer for having
smooth and glowing skin. These products are good for skin and have no side effects because of
the herbal products used in this.by researching properly on the internet and knowing the target
market of the organic beauty products this product is launched in order to give more benefits
than the competitors. This innovation was brought into market after influencing from social
media and after COVID-19 pandemic side effects as after suffering from this pandemic every
individual wants to prefer organic materials for food as well as for beauty products. For
protecting the newly started business there are some intellectual property rights. The intellectual
property rights are the rights which are intangible in the nature and this gives the organizer a
right to use his creation for a limited period of time (Baran, and Zhumabaeva, 2018). There are
many intellectual property rights which are used in protecting the business like trademark, points
to consider while adopting a trademark, enforcement of trademark rights, patents and the last
one is copyright. All these rights of an organization helps in protecting the business they are
starting or running.
Customers
The target market of the business started for producing organic beauty materials are basically
girls and women as the company produce organic beauty products like face wash, foundation,
lipstick and many more.as girls and women buy more cosmetics and beauty products so it will
be beneficial for the company in earning profit in the target market. The USP of using organic
beauty products of this company is that they are using coffee, chocolates, turmeric and herbal
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products and absence of harmful toxins and chemicals in the products which are very beneficial
for skin and have no side effects as well. Customer always want to buy a product which is cost
worthy and also beneficial for making their skin glowing and natural. The segmentation of the
products in the company is basically started from the age of 20 to the age of 50 and it is also
available online for the customers of UK. For promoting the products social media promotions,
email and text messages promotions have to be adopted by the company for increasing the
growth and productivity (Vänskä, and Ylhäinen, 2021). The positing of the supreme sparkle
company is to produce the beauty products which makes the skin sparkling and this influence
the customer for buying the products. The company can further gain profit and value in the
market by providing customized products to the customers as every individual have different
skin tones and prefer some best solutions for their skin tone.
Competitors
There is a high competition in the market for the beauty products and cosmetics as there are
many companies that produce organic materials for cosmetics like Mama Earth, wow and many
more. The supreme sparkle produce the organic products which includes honey, turmeric , aloe
Vera, coffee and many more herbal products which makes the product more beneficial than
products produced by competitors. There are some market opportunities which should be
followed by the company in order to get success from the newly started business (Sommer,
2018). The company should provide political guidelines related to manufacturing, there should
be reasonable price of the products, the product should benefit the customers socially as well and
by using new technologies the company can earn more profit. There is a porter’s five forces
model which helps in identifying and analysing the five competitive forces which makes the
company more profitable. This includes in understanding the competition in the industry,
understanding the potential of new entrants, power of suppliers, power of customers and threat
of substitute products.
Skills analysis
For running the business and making it more productive some good skills and attributes are
required. The business activities is carried out by various departments of the organization like
marketing, operational, human resource, production etc. The marketing department is
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responsible for the promotion of the business by marketing skills, the operational department is
responsible for all operations and this team should be determined and hard working. The
production department is responsible for the manufacturing of the product and human resource
department is managing all the trainings sessions and helps in getting the benefits of
compensation (Polcz, 2021). Furthermore the skills can also be identifies on the basis of SWOT
analysis. The strength can be defined as the availability of different size of products and using
high quality products for cosmetics. The weakness can be high competition in the market and
having less popularity and margin as it is anew business. The opportunities can be organization
can gain market share and brining new and innovative products into the marketplace. The threats
can be entrance of new companies and financial problem due to high competition.
Projected 2 year profit and loss account and proposed 2 years cash flow forecasts including
break-even
Profit and loss management of the company helps in taking financial decision of the enterprise.
A profit and loss statement divided the profit and loss into net profit earned by the company and
the net less faced by the company. Creating statement is one of the major task for managing the
profit and loss of the organization. The company should also keep in mind about the financial
profit and loss statement of the competitive company like mama earth, wow and etc. A profit
and loss statement is divided into two parts the first one is revenue statement and the second one
is expense section (Bhimani, 2022). The revenue section describes the overall revenue earned by
the company and the expense section describes the overall expenses of the business. Similarly
cash flow forecasting is the process of determining an overall estimate of the company’ future
position in the market. This is basically based on the payment ad receivables and it also helps the
owner in understanding the cash position at present and for the future by analysing the upcoming
revenue and expenses.
Finding, evaluating and selecting suitable sources of funding to grow the business opportunity
For starting and running any business it is very essential to have strong resources for providing
funding in order to grow the business more successfully. There are basically eight stages for
evaluating the funding for a newly started business like pre seed funding stage in this funding
comes from family or friends, seed funding stage in this the entrepreneur provide company
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equity in return for larger amount of cash provided by the investors, series A funding in this
share of the organization have been offered in exchange of capital. Series B funding helps in
expanding the business globally, series D funding and beyond, mezzanine funding and bridge
loans in which loans are given to a mature business whose worth is at least $100 million and the
last stage is IPO(Lubrano,2019) . Initial public offering can be defined as pinnacle of start-up
business.it is offered for the public to purchase and it increases the growth of the company.
Bootstrapping is also one of the resource for funding such as personal savings, personal
computing equipment’s and personal premises to run a business. Crowd funding is also a way of
making funding for the business by raising money from large number of individuals.
Your plans for obtaining your resources, both tangible and intangible between now and either 1-
2 year ahead
For determining the feasibility of the business of organic beauty products there is tool available
named as “First screen”. This tool will help in track the potential employees that want to be a
part of your team, also helps in researching the target market thoroughly, in knowing the
competitors, in accessing the technical feasibility, in tracking financial feasibility, helps in
making a risk assessment plan and the last one is in seeking the strategy for investment. The
company can be provided the Affordable office space, Lab space, manufacturing space, or space
to launch a service business, can available the contract manufacturers or service providers, Key
management employees, Key support personnel ,ability to obtain intellectual property protection
and ability to form favorable business partnerships(Baerwald, 2018).
The type of organization and the management information systems required to effectively
control the business
For running the business the system should have following things for controlling the business
like accounting and bookkeeping, payroll, invoicing, task management, email, scheduling and
calendars, productivity suite and embracing the unique needs. System standardization is the
process of setting rules that how people in an organization are supposed to complete the
assignment or task given to them. There are many benefits of standardizing any system like it
improves the clarity, gives a guarantee of the product quality , helps in promoting productivity,
boost the morale and confidence of the employees and the last one is it provide a perfect
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customer service(Daniel,and Inim Victor,2019). Another tool is CRM system which is customer
relationship management is a process in which interacts with the customers and helps them by
solving their queries.it helps the system to connect with the customers at personal level for
feedbacks and reviews. Management information system, decision support system and business
information system are the frameworks used for decision making, controlling, analysing, and
coordinating the information of the organization.
Vision for your Business Idea
Vision includes the qualities of the product that distinguish it from the other products and helps
the organization to have focus on the long- term goals. The vision of the Supreme Sparkle is to
merge the idea of the natural and organic products by using the pharmaceutical. As it is very
essential to have for customers and skin care is the most and simple thing that every customer
must look for. The future goal of the company is to produce the beauty products with total herbal
and natural ingredients which is beneficial for the customer and have no side effects (Defreitas
Pedroso Gonzalez,2020). The company wants to have best products in the competitive
environment of beauty products and provide the products with customer satisfaction. Further the
company can also expand their business by customizing the products according to the skin type
of the customers.
CONCLUSION
From the above report it has been concluded that by using a good business growth plan
entrepreneurs can establish ad run a business. Further by the help of PEST and SWOT analysis
the internal and external factors of the organization can be identified and by Porter five forces
model the competition of the target market can be examined and several alternatives can be
provided for getting more growth and development comparatively.
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REFERENCES
Books and Journals
Fani, S.V. and Subriadi, A.P., 2019. Business continuity plan: examining of multi-usable
framework. Procedia Computer Science, 161, pp.275-282.
Baran, A. and Zhumabaeva, A., 2018. Intellectual property management in startups—
problematic issues. Engineering Management in Production and Services, 10(2).
Vänskä, T. and Ylhäinen, M., 2021. Customer-centric Approach in Starting a Cosmetics
Business.
Sommer, C., 2018. Market orientation of news startups. The journal of media innovations, 4(2),
pp.35-54.
Polcz, K., 2021. Pitching as an Entrepreneurial Soft Skill in the World of Startups. GiLE
Journal of Skills Development, 1(2), pp.5-6.
Bhimani, A., 2022. Financial Management for Technology Start-Ups: How to Power Growth,
Track Performance and Drive Innovation. Kogan Page Publishers.
Lubrano, S., 2019. Studying The Characteristics And Efficiency Of Venture-Capital Funded
Startups.
Baerwald, T.J., 2018. Strategies for Obtaining Funds from Government Agencies and Other
Organizations.
Daniel, C.O. and Inim Victor, E., 2019. Impact of Accounting Information System as a
Management Tool in Organisations. American Journal of Humanities and Social Sciences
Research (AJHSSR), 3(4), pp.14-20.
Defreitas Pedroso Gonzalez, I.V., 2020. THE MANAGEMENT OF CHALLENGES
RELATED TO THE INNOVATION PROCESS: A MULTI-CASE STUDY IN
INDUSTRIES OF THE COSMETIC SECTOR. Brazilian Journal of
Management/Revista de Administração da UFSM, 13.
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