Навчально-методичний посібник для студентів спеціальності «Переклад» І студентів економічних спеціальностей A. Sukhova business english



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Sukhova Business english 2016

What is a Business Plan? 
The primary value of your business plan will be to create a written outline 
that evaluates all aspects of the economic viability of your business venture 
including a description and analysis of your business prospects. A business plan 
is an essential step for any prudent entrepreneur to take, regardless of the size of 
the business.
First and foremost, it will define and focus your objective using appropriate 
information and analysis. You can use it as a selling tool in dealing with 
important relationships including your leaders, investors and banks. You can use 
the plan to solicit opinions and advice from people, including those in your 
intended field of business, who will freely give you invaluable advice. Your 
business plan can uncover omissions and weaknesses in your planning process. 
Six Steps to a Great Business Plan 
Start-up entrepreneurs often have difficulty writing out business plans. To 
make it easier, here are six steps that will get you to a worthwhile plan: 
1. Write out your basic business concept. 
2. Gather all the data you can on the feasibility and the specifics of your 
business concept. 
3. Focus and refine your concept based on the data you have compiled. 
4. Outline the specifics of your business. Using a “What, where, why, 
how” approach might be useful. 
5. Put your plan into a compelling form so that it will not only give you 
insights and focus but, at the same time, will become a valuable tool in dealing 
with business relationships that will be very important to you. 
6. Review the sample plans. 
Factors Producing a Successful Business
A sound business concept. The single most common mistake made by 
entrepreneurs is not picking the right business to begin with. The best way to 
learn about your prospective business is to work for someone else in that 
business before beginning your own. There can be a huge gap between your 
concept of a fine business and reality. 
Undertaking of your market. A good way to test your undertaking is to 
test market, your product or service before you start. Do you think you have a 
great kite that will capture the imagination of kite fliers throughout the world? 
Then hand-make some of them and try selling them first. 
A healthy, growing and stable industry. Remember that some of the great 
inventions of all time, like airplanes and cars, did not result in economic benefit 
for many of those who tried to exploit these great advances. For example, the 
cumulative earnings of all airlines since Wilber Wright flew that first plane are 
less than zero. (Airline losses have been greater than their profits.) Success 
comes to those who find businesses with great economics and not necessarily 
great inventions or advances to mankind


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Capable management. Look for people who you like and admire, have 
good ethical values, have complementary skills and are smarter than you are. 
Plan to hire people who have the skills that you lack. Define your unique ability 
and seek out others who turn your weaknesses into strengths. 
Able financial control. You will learn later the importance of becoming 
qualified in accounting, computer software and cash flow management. Most 
entrepreneurs do not come from accounting backgrounds and must go back to 
school to learn these skills. Would you bet your savings in a game where you do 
not know how to keep score? People mistakenly do it in business all the time. 
consistent business focus. If you think of specific products or services, 
you will find that specialists will outperform non-specialists. Zero in on 
something you can do so well that you will not be subject to competing with 
someone with a lower price. 


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