Business Plan (3Gen Informatics) Essay Example | Topics and Well Written Essays - 2750 words

Business Plan (3Gen Informatics) - Essay Example A business plan is often considered to be a crucial step for an entrepreneur intending to inaugurate new business venture or expand business unit to a newly located marketplace. The plan generally assists an entrepreneur towards performing various operations resulting in attaining superior competitive position in the respective industry. With this concern, this paper intends to prepare a realistic along with a practical business plan for the proposed business venture relating to computer sales and service. In order to increase the viability of the business plan concerning the above depicted business venture, the business plan s would encompass various aspects associated with the type of business. In this similar context, the plan would clearly depict the business including its offerings, sales and marketing strategies, information of management groups and their roles amid other relevant factors. Brief Overview of the Venture 3Gen Informatics is a proposed business organization which would deal with the business of computer sales and service. ... inclusive collection of selling computer systems including hardware, software and network trouble shooting for small, medium and large business industries. The services of the organization will be focused on designing and installing network systems, computer hardware along with software supports and training programs. The objective of 3Gen Informatics would be to provide individuals with wide range of services consisting of providing solutions to network problems, hardware and software upgrades, repairing hardware and many more. Thus, the initial investment will be less as the company will focus on services more rather than selling hardware components. Additionally, the company would also recruit five new members in order to accomplish its different computer sale and service related functions. Choice of Sources of Funds for Your Business with Justification Preparing an effective and valid financial plan can be duly considered as one of the major aspects for entrepreneurs to develop a n effective business plan. The financial forecast of the business plan would typically involve various major outlines of identifying different costs that are required to start and operate the overall process of the organization. An effective and authentic financial plan for a business involves various attributes such as balance sheet, cash flow and profit statement which aids in accomplishing feasible and profitable outcome from the business operations (Byrne, n.d.). In this regard, the initial investment for starting up a business would require greater initiatives from the owners or the partners. In relation to the proposed business venture, a projection of US$ 100,000 can be made in order to start up the venture including all required expenses. In this regard, a sum of US$ 60,000 would