Steps to success for rural entrepreneurs:

PREPARED FOR

Faculty of Economics,

Süleyman Demirel University,

Almaty, Kazakhstan

Table of contents

INTRODUCTION.......................................................................................................................1

Welcome to this handbook...................................................................................................1

Entrepreneurial spirit............................................................................................................1

Success factors......................................................................................................................2

Starting a business……………………..........................................................................................2

PERSONAL GOALS AND SKILLS..............................................................................................5

Why do you want to go into business?.................................................................................5

Is starting your own business right for you?.........................................................................5

What skills do you have and what will you need help with?................................................6

THE BUSINESS PLAN................................................................................................................8

Why should you write a business plan?................................................................................8

Why do you need this handbook?........................................................................................9

Is your idea feasible?............................................................................................................9

Business plan outline............................................................................................................12

STEP 1 – EXECUTIVE SUMMARY............................................................................................14

Preparing to write a strong executive summary..................................................................14

Writing the executive summary............................................................................................16

STEP 2 – BUSINESS DESCRIPTION.........................................................................................17

Gathering information for the business description section................................................17

Writing the business description..........................................................................................18

STEP 3 – INDUSTRY OVERVIEW............................................................................................21

Gathering information for the industry overview section....................................................21

Writing the industry overview..............................................................................................22

STEP 4 – MARKET ANALYSIS..................................................................................................24

Gathering information for the market analysis section........................................................24

Writing the market analysis..................................................................................................26

STEP 5 – COMPETITIVE ANALYIS..........................................................................................28

Gathering information for the competitive analysis section................................................28

Writing the competitive analysis..........................................................................................30

SWOT analysis.......................................................................................................................32

STEP 6 – MARKETING STRATEGY.........................................................................................34

Gathering information for the marketing strategy section..................................................34

Writing the marketing strategy.............................................................................................36

STEP 7 – OWNERSHIP, STAFFING, AND MANAGEMENT PLAN.........................................38

Gathering information for the ownership, staffing, and management plan section...........38

Writing the ownership, staffing, and management plan......................................................40

STEP 8 – FINANCIAL PLAN......................................................................................................42

Gathering information on your business startup.................................................................42

Gathering information on your business operations............................................................43

Writing the financial plan......................................................................................................48

Financial management of your business..............................................................................49

STEP 9 – IMPLEMENTATION SUMMARY..............................................................................51

STEP 10 – CONCLUDING COMMENTS....................................................................................53

APPENDICES

Estimated start‐up costs worksheet....................................................................................57

Estimated revenue worksheet.............................................................................................58

Estimated fixed costs worksheet.........................................................................................59

Estimated variable costs worksheet....................................................................................60

Profit and loss statement.....................................................................................................61

Balance sheet.......................................................................................................................62

Cash flow statement............................................................................................................63

GLOSSARY................................................................................................................................64