Business Plan Part 2 Q.1 What Kind of Business Will I Operate

Business plan part 2
Q.1 what kind of business will I operate
Business is defined as trade, service or any kind of purchase and sale of goods to earn profit.
The business I like or I want to operate is clothing brand business. We realize that every individual need
the incredible brand and the most ideal norm with the best cost. I have generally organized in cost and
quality viably that can carry fulfillment to the clients. Clothing should be trendy with the goal that it can
effect on people and it is perhaps the main things for humans. Especially, there are two kinds of dress:
formal and casual. The brand I will create is formal clothing brand. I will offer different types of dress for
both ladies and gents. People who will spend for my company, they get the sensation of sure, confident,
and stylish.
I have thought to retail and open stores in city regions so buyers can without much of a stretch get our
goods from their encompassing shopping center and markets. I will also develop website and social
media platforms for online access to the customers.
Each religion and culture can wear my dress. Our clothing will suit with customers who are keen on
recently fashion planned dress since I will make my items flawlessly. Overall. I will make plans on a
specific choice for the climate conditions.
Price would be elastic as the demand of people will be increased. People always compare prices and
quality of different brands.
I will also focus on the advertisement through magazines, social media, electronic media and banners. I
will provide my customers with high quality products at reasonable cost.
Q.2
10 skills required to operate a business as an entrepreneur
1) Skill to manage money
Basically, if you can’t oversee money, you can’t deal with a business. Do you Know where your income
goes? Do you live less than what you get? On the off chance that the response to these questions is no,
you’ll battle to deal with a business financial plan too.
2) Skill to increase money
You need to know how to get money, yet how to convincingly form a defense that your business is a
less danger also.
3) The capability to be productive
An entrepreneur have to be productive in his business. New and unique ideas are keys to successful
business.
4) The capability to find out strength and weakness
You don’t should be amazing at everything. However, You need to get where you’re solid and where you
are weak.
5) The skill to hire right people
This is effectively perhaps the main ability any business person could have. Having incredible people in
your group will give you admittance to new qualities. Recruiting the responsible people is fundamental
to get where you need to go.
6) Skill to train staff
It will build the responsibility level of good representatives and will give you grounds to circle back to
wrongdoing.
7) Skill to manage staff
When you have the right employees, you have to manage them properly. So this pays to be viable.
8) Ability to focus on the choice of customers
Ensure the entirety of your pitches, items, and services are centered around genuine client needs.
9) Patience and skill to deal with failures
An entrepreneur must have skills to deal with failure and flaws. As every successful person has a list of
failures.
10) Wish to improve your business
You must have the positivity in your thoughts and plans that you can change the world with your great
ideas. An entrepreneur focuses on the improvement of the his business in every possible way. Unique
and new trends in business can motivate a business man to be more specific.
References
Patel, S. (2015). The 17 Skills Required to Succeed as an Entrepreneur. Retrieved from
https://www.google.com/amp/s/www.entrepreneur.com/amphtml/242327
Q.3 importance of market analysis for business

• Market Analysis is a particularly essential interaction while dispatching an product or working on
existing results. Moreover, it keeps you one step ahead in the competition from other
entrepreneurs. In like manner, it gives the clients all the pertinent data for making right business
choices.
• Company research is the interaction of assortment of information to select if the product will
exist in the market. Helpful research is getting significant experiences into the trends and traits
of clients.
• The situation of business sectors change from day to day. It is fundamental for repeat every one
of the focuses and strategies before going to proceeding with market investigation.
• Competitors are continually attempting to take your clients. They attempt to do market
research before you to know what the clients need.
• Testing products is so fundamental before entering into the universe of business. You need to
know whether the product merit standing in business sectors. Besides, by testing the items, you
will be getting a good deal on the extra costs. What’s more, you will be stopping yourself from
conveying bad quality products in markets.
• Large companies stay in the market since they know the legitimate method of Market analysis.
For example, Nokia neglected to comprehend the client needs and couldn’t make due in market.
Apple and Netflix could do their exploration right and used every one of the step they could.
• Sales analysis; sales check whether discount can be given to the clients on the items. Further,
make a report step by step while doing business analysis.
References
Litman, P. (2021). Importance of Market Analysis in Business Growth. Retrieved from
https://www.google.com/amp/s/m.jpost.com/special-content/importance-of-market-analysis-in-
business-growth-661433/amp
Q.4 objectives of my business
1) My 1st objective to introduce my clothing brand is to give the opportunity to all kind
of people to avail the high quality clothes within reasonable prices. There is a large
sector of poor people who can’t afford quality products. So, my main focus is this
poor community.
2) My second reason to introduce my company is my creative thinking. Fashion or
clothing is all about creative ideas. I think I have many great ideas to put my
creativity in my brand to introduce something new to the world.
3) Most important objective of business is profit earning. Money making ideas are
always attractive to entrepreneurs. By operating a business we not only earn
money but also earn customer relationships.

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Business plan part 2

Q.1 what kind of business will I operate

10 skills required to operate a business as an entrepreneur

1) Skill to manage money

2) Skill to increase money

3) The capability to be productive

5) The skill to hire right people

6) Skill to train staff

7) Skill to manage staff

8) Ability to focus on the choice of customers

9) Patience and skill to deal with failures

10) Wish to improve your business

Patel, S. (2015). The 17 Skills Required to Succeed as an Entrepreneur. Retrieved from

Q.3 importance of market analysis for business

Litman, P. (2021). Importance of Market Analysis in Business Growth. Retrieved from

Q.4 objectives of my business

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