Why Prepare a Business Plan - Sadika Kebbi

Sadika Kebbi "Equipping Others"

IBGR.Network- Profit Radio and to the show Equipping Others Episode P4.09.3– How to prepare a business plan and why it is important to create one?


Greetings from Beirut, Lebanon! And now here are my greetings in Arabic Marhaba, 2ahlan wa sahlan sharftouna—translation: hello, you are most welcome to my show, it’s an honor to have you with me today.

You are listening to IBGR Network, better known as International Business growth Radio Network—IBGR is our call sign for our radio station, but we are more than that- we are a family of entrepreneurs that came together to create a shared space of collaboration where you can join us to help you start your business, enhance your business, grow your business, or reinvent your business. Anything you need to become an exemplary entrepreneur you can find it on our website especially by joining our community of Commerce where you can connect and obtain an answer to all your questions. 

Connection is the secret to all your inquiries, as it is also the solution for a better world. Before launching any business, or before starting a new venture, one should plan carefully, and today I am going to try and shed some light on the importance of planning your business. This might help you accomplish your objective and gain a greater understanding of the venture you are about to start. 

Introduction: 

I am Sadika Kebbi, your host, coming to you live from Beirut, Lebanon. I am a business consultant, a DISC consultant and trainer, a certified John Maxwell trainer, coach, and speaker. I am also an NLP practitioner and a meta coach. I created my NGO, or my non-profit organization in 2016, under the name of Being Human, or Kon Ensan in Arabic, with the aim of achieving social cohesion, peace building and women and youth empowerment. I am also a TEDx speaker and would like to invite you to listen to my talk entitled when your enemy becomes human. When I decided to create my organization, I had to plan carefully, and write a full business plan that would lead me to clarity in my mission, vision, objectives and eventual aspirations. I set out to carefully write and develop every phase of my plan.

1. History and position to date:

Here I described my organization, my idea so far as I have already developed it. I explained my aims, objectives and aspirations. I also introduced my team, myself included, and showed how our skills and experiences relate to this venture. 

1. Market research:

This involves identifying the data needed both to validate the need for what I am proposing and to decide upon the best start-up or growth strategy. In this phase, I gathered market research data from as many sources as possible.

1. Business strategy:

This involves how I will operate each element of my business based upon the information I collected and analyzed in earlier phases.

1. Staffing and operations:

This involves detailing all the activities required to make your strategy happen. It includes such subjects as purchasing, employing people, legal matters and insurance. 

1. Forecasting results:

Based on the strategy evolved so far, in this phase I carried out assignments that enabled me to forecast the expected results of my NGO. 

1. Business controls:

Here I demonstrated how I will keep track of my organization, both as a whole and for each individual element. As well as a bookkeeping system that I will need.

1. Writing up my business plan.

Show Objectives: 

1. Write a plan to avoid mistakes in the marketplace.
2. Write a business plan to feel more confident.
3. Know how much money is needed for your venture.
4. Get an insight into the planning process. 

Key Issues:

1. Write a business plan to understand your venture and where it is heading.
2. Do your market research.
3. Create a competitive business strategy.
4. Demonstrate your skills in running your business venture.
5. Forecasting your results.
6. Keep track of your business.
7. Write up and present your business plan. 

What You Need to Know:

Perhaps the most important step in launching any new venture or expanding an existing one is the construction of a business plan. Such a plan must include your goals for the enterprise, both short and long term—a description of the products or services you will offer and the market opportunity ties you have anticipated for them; and finally an explanation of the resources and means you will employ to achieve your goals in the face of likely competition. Time after time, research studies reveal that the absence of a written business plan leads to a higher incidence of failure for new and small businesses as well as inhibiting growth and development. 

Preparing a comprehensive business plan along these lines takes time and effort. Nevertheless such an effort is essential if you are to crystallize and to focus your ideas, and test your resolve about entering or expanding your business or pursuing a particular course of action. Once completed, your business plan will serve as a blueprint to follow which like any map, improves the users’ chances of reaching their destination. 

Previous episode: Episode P4.09.3– How to attract winners?

Next Episode: Episode P4.011.3— Describe Your Business.

By Sadika Kebbi 

If you would like to know more about your host, or get in touch check the links below:

https://www.youtube.com/watch?v=ee6JrASKiD0
https://www.facebook.com/sadika.kebbi
https://www.facebook.com/kebbisadika/
https://www.facebook.com/be.human.2017/?ref=bookmarks
https://www.instagram.com/skbeinghuman/
https://www.instagram.com/kon2ensan/
https://www.linkedin.com/in/sadika-kebbi-a424a51a/

https://www.amazon.com/Temptations-Flesh-Madame-Bovary-Awakening/dp/3844326278/ref=sr_1_3?dchild=1&keywords=sadika+kebbi&qid=1604905871&s=books&sr=1-3

https://www.amazon.com/Hidden-Face-Scheherazade-Stories-Behind/dp/1733077502/ref=sr_1_1?dchild=1&keywords=sadika+kebbi&qid=1604905871&s=books&sr=1-1

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