My Dream

If you have a chance to open a business on your own, what kind of business do you have in mind? As for me, I would like to start a small business first. The one does not need big capital and less people to run. There are a lot out there. But all this while, I had been thinking about setting up a laundry service shop. It’s just a dream anyway. I don’t even know whether I will ever have the opportunity to realize it, but hopefully soon, when the time is right maybe.

Well, I have been looking for information about this idea from the internet and asking questions from friend who have done it before. Actually, most and foremost, I have to think about where can I get a capital to get it start. And actually there are some organizations out there that are willing to help people who wish to start their own business by providing financial assistance.

But again, I need to prepare a business plan/model proposal, which should well explain the criteria below:

The Executive Summary should talk about the business opportunity, technology, product, market and management; the proposed financing amount and use of the funds; and contain a five-year income statement and capital requirement summary.

The Business Opportunity section should describe the product and technology, and talk about why a customer wants it and how well will it performs.
The section on Business Strategy and Key Milestones should list down business strategies including financial strategy, technology strategy, and product development.

The Marketing Plan should address customer needs, market segmentation, distribution channels, sales strategy and plans, competition and positioning.
The Operations Plan should include engineering and manufacturing plans, facilities and administration plans.

The section on Management and Key members of the Personnel, should give detailed resumes of key personnel, organisation charts, the staffing plan and headcount projections, and information on incentive & compensation programmes, if any.

The Financial Projections should include five-year pro forma forecasts - including profit and loss, balance sheet and cash flow statements; together with financial assumptions.

Your proposal will be evaluated then, and if everything seems good, then the first ladder is completed. There are many more ladders to go anyway.

This is just a guideline. There are many ways to go about doing it. So those of you who interested, please prepare your proposal and get your Trading Licence ready.