How to Prepare A Business Plan E-Book

Peter Osalor

• Herausgeber: POSAG International Ltd
• Kategorie: Fachliteratur
• Sprache: Englisch

Veröffentlichungsjahr: 2023

Beschreibung

This book is written specifically for people who have made up their minds to be entrepreneurs and want to do things right. As an entrepreneur, the book will help you develop a plan for your business from the ground up taking you from the moment you conceive the idea in your mind to marketing your idea to the world. You are presented with a step-by-step guide to the different segments of a business plan – market analysis, competitor analysis, SWOT analysis, product description, operation and management, profit/loss projections, and much more.

Leseprobe

How to Prepare ABusinessPlan

A Step by Step Guide

Peter Osalor

CONTENTS

PREFACE

FOREWORD

FOREWORD

COMMENTS

ACKNOWLEDGEMENTS

INTRODUCTION

CHAPTER 1

“The only limits to the realization of tomorrow will be our doubts of today.”

CHAPTER 2

“Success is a state of mind.If you want success, start by thinking of yourself as a success.”

CHAPTER 3

“Every time you win, it diminishes the fear a bit.

CHAPTER 4

“To guarantee success, act as if it were impossible tofail.”

CHAPTER 5

“Don’t ask what the world needs. Ask what makes you come alive and go do it. Because the world needspeople whohavecome alive.”

CHAPTER 6

“It’s not what you have; it’s what you do with what you have.”

CHAPTER 7

“All great achievements require time.”

CHAPTER 8

“The price of excellence is discipline. The cost of mediocrity is disappointment.”

COMING SOON!

COMING SOON!

COMING SOON!

PREFACE

My Life’s Journey and Motivation

Iwasbornintoafamilyofsixinthemid-1950'sinWarri,Delta State,Nigeria.Welivedinamudhousewheretherewasnoelectricity and it was difficult to access drinkable water. My fatherwas always in and out of menial jobs and at times, it was challenging for us to get a decent meal to eat. From an early age, I began to fendfor my family by going to the water side to collect firewood to sell.Unlike us, neighbours and friends did not have to struggle to eat,some took their security to ready available food for granted and theirparents would even discipline them or buy them multivitamins whenthey refusedtoeat.

I quickly realised that knowledge was key and began to dig deep, as I wanted to satisfy my growing curiosity on the big social differencesin society. Why where some living in affluence and others in abjectpoverty?Ihadtastedpovertyandhatedit.Itwasthishatethat fuelled my choice to live a life dedicated to finding out exactly whythe worldworks thewayit does.

I went to college as a house boy to a teacher because we could notafford to pay the school fees and that was the best the college coulddoforme.AftercollegeIwenttoworkforPanalpinaWorldTransportation Company in Kano.I bought a house for my motherand established a hotel for her.Then I bought a taxi, started a taxifirm and began to buy more vehicles,however I was not satisfiedwith my level of knowledge. I wanted more. I wanted to become aglobal entrepreneur, not merely a local one. I left for Britain in 1983,where I studied accountancy. While there, I took exams to become an accountant and began to apply the knowledge I acquired to variousbusinesses.

By1991Iwasacharteredaccountantandacharteredtaxadvisor. As I was investing in my global education in Britain, my wife and Ibought two shops in 1995 but had to sell them by 1999 in order tofight bankruptcy.

In 2000, we established East London ITEC an IT and accountancytraininginstitute.From2001-3,IestablishedbranchesofPeterOsalor and Co. in Port Harcourt, Warri, Yenagoa, and Lagos. Wetruly became a multinational global enterprise.Believing I couldmake a difference of the state of affairs in Nigeria, I ran for governor of Delta state in 2007 but was not elected. Throughout my entirejourney, I have gained extensive experience in teaching, accounting,management, capacity and business building. Over time, I began tonotice the consistent, predictable patterns and principles that appearto accompany and govern all business and career success. The mostimportant of these principles is having an entrepreneurial attitude.This is what I aim to teach within the pages of this book. It is mydesiretoguideandmentoryoutoyourpathofbecomingasuccessful entrepreneur.

My purpose in life has been the same for more than thirty years. It isto liberate the in-built potentials of individuals by giving them ideasand strategies to fast-track the benefits and rewards they can achieveas successful entrepreneurs. I intend to motivate people by makingthemrealisethatsuccessisachoicetheyhavetomakeandANYBODY CAN BE SUCCESSFUL if they choose to be.

Putting into practice my vision for entrepreneurial development inAfrica, Ihave establishedseveral initiatives:

-I have established Success in Your Business, a UK registeredcharity committed to eradicating poverty by equipping individualswiththeentrepreneurialspiritandtherightskillssucceedinbusiness.

-I have an on-line TV program

-As part of my awareness creation strategy for entrepreneurship, I run a weekly TV programme called Success in Your Business onAfricanIndependentTelevision,Abuja.A programmeformerlyaired on Ben TV London, NTA Warri and Port-Harcourt.

-IwriteaBusinessBlog.IamaregularcolumnistfortheVanguard Newspaper, commenting on the Nigerian economy andpolicy needs.

-IamafoundingmemberoftheAfricanandNigerian Entrepreneurs.com

-I amthe CEO of Posag Consulting - a financial consultancy and businessadvisoryserviceproviderwithofficesinNigeria,theUnited States of Americaand Europe.

-Ihavewrittenseveralbooksonentrepreneurialsuccessincluding: The Entrepreneurial Revolution: A Solution for Poverty Eradication,WhyandHowtoStartyourownBusiness,andHow to write your BusinessPlan.

This book is written specifically for people who want to start theirown business i.e. they want to become an entrepreneur; be their ownbossandabsolutelysucceed.Thisbookwillteachyouhowtoidentify your passion and attract funds to manifest your passion asyour business. More so, for people working in the business worldwhowanttomaximizetheirpersonalpotentialandgetthebestquantityandqualityof business satisfaction, thislittlebook willserve as a veritable compass. As you read, put into action what youread. Remember, if you do what successful people do, you will getthe result successful people.

Best Wishes.

FOREWORD

One of the major socio economic issues confronting the Nigerianstate is the high and rising number of the unemployed in the country.Theproblemisevenmoreacuteamongtheyouth.Anecdotalevidence indicates clearly that the youth constitute the significantproportion of the unemployed and underemployed in the country.

The events of the last three decades have been characterized by some unprecedenteduncertaintythathasunusualthreatsaswellasopportunitiesinthesocio-economic,political,technologicalandcompetitive environments of businesses, which have automaticallychanged the frontier and landscape of the Nigerian entrepreneurs and enterprises.Retrenchments,retirements,restructureandre-engineeringarenowcommonfeaturesinthemanagementofbusiness enterprises.

This book is predicated on the philosophy of creating jobs by theentrepreneurs, emerging from the quagmire of unemployment caused bymanyyearsofmismanagementoftheNigerianeconomy.As entrepreneurs and potential entrepreneurs, this book will help youdevelop a well researched and easy to understand business plan. Thebook presents you a step-by-step guide to the different segments of abusiness plan without becoming overwhelmed with the process ofdeveloping a business plan.

The book is well written and clearly focused to tackle unemployment bymeetingthechallengesofdoingbusinessinNigeriaandthe inculcationofthecultureandspiritofentrepreneurshipintothe entrepreneurs, potential entrepreneurs and individuals. The book ismade up of eight chapters which are well discussed. Peter Osalor’scontribution will go a long way to filling the gap of lack of adequatetexts inthe area of how to preparea business plan.

It is very easy to read and comprehend. It is therefore, a must foreveryonepracticingentrepreneurship,would-beentrepreneursand the students who will also find the book indispensable as a referencematerial. It is our opinion, therefore, that the book will go a long way towardsactivating,cultivatingandinculcating“entrepreneurshipspirit” and culture intothe readers.

Prof. Sarah O. Anyanwu

Department of Economics and

Former Director, Centre for Entrepreneurship

University of Abuja

FOREWORD

The economic turbulence in our world today which has made jobsecuritiestobevolatilehasprobablycreatedagroundswellfor interest in business ownership and the expression of entrepreneurialskills.In spite of the presence of university education in our worldfor almost 1000 years, no school offered a degree in entrepreneurship untilthe1970s.Inthe70stherewereonly16universitiesthatoffered courses in entrepreneurship in the whole of the USA, today,over1,600do.Priortothat,everycoursedirectedpeopletolearn how to manage a business on behalf of others. There are severalreasons why the ownership of business is preferable to job seeking or the pursuit ofemployment.

A business gives you the opportunity to take your future in your own hands.LiketheysayinLatinCarpeDiemseizethemoment. A business quite unlike employment can be inherited by your children,therefore giving you the opportunity to create generational blessingsand prosperity for your family. That is why today we see the FordMotor companies, Heinz, Rolls Royce, which was started by Mr.Rolls and Mr. Royce. The examples are endless.The best that cancome out of employment is a salary and a possible pension. Whereas, a business can help you to build equity into the future. At a particular age,thestatutorylawsofemploymentofacountrymakeyourdeparture from gainful employment mandatory. While in your ownbusiness, youcancontinue to run in your golden age.

Furthermore, if anything makes the desire to have a business evenmorelikable,itwillbethefactthatyoucanmakeadifferencein yourworldasyourcompanygetsinvolvedincorporatesocialresponsibilitiesthroughtheuseof its profitor moniesset apart tohelp meet social needs. You are able to provide employment forothers and become part of the solution in your world. We might justrest our argument for business by saying that it helps you to leave alegacy.

However,what is the use having such adesire to run business andyet be poorly informed on how, why and which way to run it.

The author of this book, Mr. Peter Osalor takes us into the world ofbusiness by introducing to us four books that can set us in motion tostart, perpetuate andrun a successful business.

•Why and How to start your own business

•How to prepare a business plan

•How to identify and fund your business

•Theentrepreneurialrevolution–asolutionforpoverty eradication.

He brings in a fresh insight on the modalities for starting a businessthatwilllast.Yes,businessesthatwilllastbecause80%ofbusinesses started here in the UK for example fail within 5 years.However, Peter has helped us with the effective steps that can help asuccessful business. He gives us a step by step guide on how toprepare a business plan and how to run it effectively.

Many businesses also die because they do not know how to leverageby seeking for funds that would make such vision run well. Using his training as a chartered Accountant and Tax specialist, Peter helps usto grasp the possibilities of a successful business as he gives us tradesecrets for succeeding in the world of entrepreneurship.

The books of Peter Osalor come highly recommended firstly because of his educated mind. Secondly, because of the practical experiencehe has had with over 30 years of involvement in business and thirdlyas a man who has opened up business in Europe and across Africa.

His experience traverses continents and any investment in this workswill be more thanvaluefor money.

Matthew Ashimolowo

Speaker, Entrepreneur, Philanthropist