Introduction
Businesses have become competitive with budding entrepreneurs and aspiring business professionals are implementing new ideas. To help in the journey of business planning excellence, Surana Evening College in Bangalore conducted a workshop that has equipped many students to understand the knowledge and tools to prepare a winning business plan.
Workshop Overview
On April 28th, 2023, Surana Evening College hosted an informative workshop that left its mark on aspiring entrepreneurs and business enthusiasts. The Workshop on “How to Prepare a Business Plan” was a testament to the college’s dedication to equipping its students with the proficiency and talents required to navigate the complex business world.
The highlight of the event was the distinguished speaker and Assistant Profession of Surana College – Mr. Tabrez Pasha, whose extensive experience in entrepreneurship and business planning brought a wealth of knowledge and inspiration to eager students.
Differentiating Business Model and Business Plan: A Key Lesson
Mr. Tabrez Pasha began the session by shedding light on a fundamental aspect of business: the difference between a business model and a business plan. He emphasized that while a business model outlines how a company plans to generate revenue and create value, a business plan is a comprehensive document that details the strategies and tactics to achieve those goals. This crucial distinction set the stage for a deeper exploration of business planning.
Guiding Students Through Important Steps
Mr. Pasha’s guidance extended beyond mere definitions. He navigated students through the essential steps involved in crafting a robust business plan or proposal. These steps included market research, defining the business, setting financial projections, creating marketing and sales strategies, and assessing and mitigating risks. Each step was explained with real-world examples and practical insights, making the learning experience both enriching and applicable.
Elements of a Comprehensive Business Plan
The workshop’s core focus was on the elements that constitute a comprehensive business plan. Mr. Pasha meticulously outlined the contents that must be included, such as an executive summary, company description, market analysis, organizational structure, product/service offerings, financial projections, and the implementation plan. Additionally, he introduced valuable tools and techniques to enhance the presentation and visual appeal of a business plan, underlining the importance of a compelling narrative.
Conclusion
Overall, the workshop on “How to Prepare a Business Plan” at Surana Evening College was a success in providing valuable insights and skills to aspiring business professionals. With the guidance of Mr. Tabrez Pasha and the dedication of the college, students were equipped with the necessary tools and knowledge to create a successful business plan.
