1. Read and translate this text:

Introduction

Any worthwhile endeavour requires planning. Thinking through and writing up a business plan will help you to chart a steady course for your new business.

If you don’t know where you are going, you will end up somewhere else.

The business plan is a written document that clearly defines the goals of a business and outlines the methods for achieving them. It serves as your company’s roadmap.

A business plan:

- Acts as the management and financial blueprint for a business start-up and profitable operation of a business venture.

- Explain specifically how a business will function and details how a business will be capitalized, managed and marketed.

Business description

In this section of your business plan, you should provide a detailed description of your business. In describing your business, an excellent question to ask yourself is: “What business am I is?’ Describe your products, services and market. Be sure to include a through description of what makes your business unique.

The description of your business should clearly identify goals and objectives. It should clarify why you are, or what you want to be, in business.

Products and Services

In this section of your plan, describe what you intend to sell, what it does, why buying it will benefit the customer, and what makes it unique or special.

Try to describe the benefits of your goods and services from your customer’s perspectives. Successful business owners endeavour to understand what their customers want or expect from them.

Understanding the customer is most important in winning customer satisfaction and in building profits.

Sales and Marketing

One key to successful selling is to know your customer – their likes, dislikes, needs, and expectations. By identifying these factors, you can develop a marketing strategy that will allow you to understand and fulfill their needs.

Know your competition. Consider their advertising and pricing strategies. If you understand why your competitors succeed, you can better position yourself to compete with them.

Plan your pricing strategy. Whether you price above or below your competition, first establish a policy. Then you can monitor prices and operating costs and adjust to ensure profitability.

Operating Requirements

In this section of your business plan, explain how the business will be managed on a day-to-day basis. Discuss hiring and personnel policies.

Discuss insurance, lease or rent agreements, legal regulations, and other operating requirements of doing business.

Account for any equipment necessary to produce your products or services. Describe the production process and delivery of those products and services.

Financial Management

Sound financial management is one of the best ways for your business to remain profitable and solvent.

To effectively manage your finance, plan a sound, realistic budget by determining the actual amount of money needed to open your business (start-up costs) and the amount needed to keep it open (operating costs).

In this section of your business plan, you need to prepare a sales forecast, cash flow projections, projected income statements, a break-even analysis, and a balance sheet.

Unless you are thoroughly familiar with financial statements, get help in preparing your flow and income statements and your balance sheet. Your aim is to understand the financial tools well enough to gain their benefits. Your accountant can help you to accomplish this goal.

Management Profile

The most important asset your business has is its people. It is important to identify the skills you need as well as those you possess, for any skills you lack will have to be hired.

This section of your business plan identifies the owners and key employees. It discusses the skills and experience they bring to the business.