History has taught us how each king or emperor reigns over their kingdom for a period. Similarly, I feel that each subject sets a new trend that reins the educational field. Until another new subject succeeds it.
Recent statistics of traditional degrees and courses show the new and most accepted courses. They are ranked from most to least favoured:
- Business Administration
- Liberal Arts
- Mechanical Engineering
- Computer Science
- Marine Biology
Well, during my childhood days engineering was favoured by many students, but it seems Business Administration has seized the privilege from engineering. Most students nowadays prefer business to others.
Why is the subject Business so popular?
The combination of academic challenge and practical focus makes it easy for the students to grasp the concept of the works.A wide range of job opportunities in different sectors requires a Business graduate. Different roles of jobs for companies’ graduates are:
- Human Resources
- Business consultancy
Skills and experiences in the business field fetch career progression with promotions and salary increments.
The subject Business Plan is a necessity for both types of students, who want to engage in designated jobs or those who want to start their own business. Now, before discussing the details of the same, let us learn;
What is Business Plan?
- A strategic description of your Business’s future
- Documentation of the plans of your Business
- Details of how to prepare your Business
- Starting from the resources you have today to the greater profits in the coming future
Points to consider before you start with your business plan:
The scribbles of your plans on the back of your envelope or your copy have to be refined and documented properly. You have to consider the minute folds and steps of the business. The initial idea may ignite the urge to start a Business, but a proper business plan will provide shape to your thoughts.
- The length of your plan:
You should try to keep it summarised and short. Try to limit your plans to 20 to 30 pages. Your prose should be straightforward and easy to read. Do not use critical words and naked bullet points. Use of Business charts is demanding. It shows your detailed research and numbers clearly. Polish and summarise the overall look and feel.
- Determine your goals and objectives:
Try to find the ultimate goals of your business. Close your eyes and answer the following questions to seek the goals.
- Your level of determination to succeed
- Will you invest your money and time and lifestyle for your business?
- Do you have an alternative plan? If the business venture doesn’t work out what will be your condition?
- In Business plan always consider the negative outputs, so that you can be prepared for your down times
- How many employees will the company have?
- The amount of annual revenues
- Will your business remain private and independent?
- Plan your investments
- Marketing Details: Perform a detailed research about the market needs and competition
Problems you will face while studying business Plan:
Without experience and dexterity, it is hard to figure out the plans and minute details of the business. The most usual issues the students face while studying the subjects may vary from person to person.
- A fragile Genesis plan:
Your business idea may be unique to you, but it may not be robust enough to hold the market. If your Business plan fails to explain the fruitfulness of your business, it will be hard for you to get investments and later hamper the progress of your firm. For instance, I know a person who was funded by a banker because of the unique idea of an open restaurant on the streets with natural ambience.
- An imperfect documentation:
Avoid grammatical, punctuation errors. They do not pose a threat, but a good presentable documentation will raise the confidence, the investors put on you.
- A disorganised presentation:
An excellent presentation is a key to any unlocked door. Proofread your documents and presentation. If possible, seek somebody else to correct it. You should not miss page numbers, headings for tables and charts and empty tables. Your documents are ready to be presented when it is successful in drawing a clean pictorial image of your business ideas.
- A plan without future:
When you pen down your plans, you should consider the future of your company. Estimates about customers, market, price, services are to be taken into account. You should include the competitors, the management teams and employees you will employ in the future. An estimated cash flow and annual balance sheets are a must.
An indistinctive or too detailed plan is a turn off for the investors.
- Imaginative or unrealistic assumptions:
Full of imagination and irrational calculations and ideas about the market can turn down a sponsor. Try to keep your plan to the point and emphasise your objectives and goals.
- Inadequate research:
You should perform a blow-by-blow research, about the market needs, affordable price, purchasing habits, etc. Make a graph or chart for these statistics.
- Riskless venture with no competitors:
A business with no risk is a myth. Also, a company with no competitors is possible in a fable. Never to mention your business doesn’t have both.
You have to smooth the rough edges of your documents. You should be prepared to answer the doubts of the investors. To make your documents the answer to all questions shot, you need to;
- A careful thinking
- You should go over the research details with a fine-tooth comb
- Get feedback about your plans. Each critic should motivate you to perform better and not mortify you.
- Hire professional help for artistry results
So, dealing with the subject should not be hard. A smart and witty approach will reduce hours of hard work. Things that can improve your concept:
- Attending the course Classes
- Revision of class notes
- Completing the assignments
Every subject is difficult to cope with. But with expert advice and guidance, it can fetch you good grades. If you have Biology as your subject, you can ask for assignment help from What if you avoid doing Biology assignments?