What the ” Max Amsterdam says that “Business is the art of extracting money from another man’s pocket without resorting to violence. Literally business is considered as activity but to perform economic activity. Well, it is tact of expand your business. No one can think about business without thinking about what, when, how ,why, and where about Business, That’s called the Business Plan.
Let us define you above five questions of business plan:
1-WHAT? what product you have for your client or what services you are providing them, what is your strategic planning for your business. A proper selection from your mind you have to select product or list of many items and from market demand. In spite that you have no proper idea what to sell and want to do business, you need to survey your local market to check, what are the products that people are buying in a great number and what are your abilities towards that work.
2-WHERE? Where you will be discussing your business, where your customers belong to and where you should place your business. The points where you may succeed or can have competition more, can fail.
3-HOW? How u you manage your capital, maintain your accounts, how you inhibit and decreases the chance of break through. How you compete with your competitors and raise your flag up, and most important how to maintain quality at the best degree of your business (quality control). commerce or E-commerce people you required for best handling of financial methods as well as accounting. How to impress the clients using full intelligence of attracting and quality making.
4-When? when it is best to start business and presents in front of others is worth to you. When you develop something new for market and when you need to take a turn for survival. More, when you are updating financially, adding more or not?
5-WHY? Why people comes to you, Is there any specialty or different in you which they cannot find any where or hard to find. Are the services are of best prices they can hardly found. Why they trust on you, Have you established your marked reputation among business society and market.