CHARTERED INSTITUTE OF PERSONNEL MANAGEMENT SRI LANKA (Inc.

Chartered Qualification in Human Resource Management

Assignment

Level DPHRM

Assignment No. Assignment 01 - Mini Business Development Plan

Start-up Businesses and Entrepreneurial Skills
Topic of The Assignment
[DPHRM-S14]

Index Number 0001435

0711900926
Contact Number
yashasviwsenapathi@gmail.com
E-mail
960113012V/199601103012
NIC No.
2024/01/04
Date of Submission

For Office Use Only:

1. Final Marks : …………………………..
LATE SUBMISSION
2. Remarks : …………………………..
NO OF DAYS
(To be filled by the Examiner)
services.

A business development plan lays out the tactics that a company will use to grow and expand. It
usually consists of an evaluation of the company's present situation, target market identification,
competitive analysis, and detailed action plans for expanding the clientele and boosting sales. It
might also include methods for establishing alliances, branching out into uncharted territory, or
launching fresh goods or services. Usually a Business Development Plan should follow a 10 step
process and should include sound qualitative and quantitative information to fit the purpose.

The 10 steps are,

• An executive summary
• Customers of the business
• The target audience of the business
• Opportunities
• Competitors & competition
• Financial plan
• Marketing plan
• Operational plan
• People
• Simplicity in planning

This is a Business Development Plan for an online reselling business.

A high-level synopsis of the business idea, its USPs, target market, and expected financial
performance will be included in the executive summary of the business development plan for an
internet reselling company. It will function as a succinct synopsis of the complete plan,
emphasizing its main features and goals. Determine which particular market sector the company
wants to serve. Examine their requirements, inclinations, and actions to determine how the
company may best satisfy their wants.

We will list the clients of the internet resale company in this area. It will entail analyzing and
segmenting the prospective customers who are most likely to use the online platform to make
purchases. Comprehending the requirements, inclinations, and conduct of these clients will be
essential in customizing the company's products and advertising tactics. Within the designated
client category, focus on the intended audience. In order to customize the business offerings, this
phase entails analyzing the target audience's psychographics, buying habits, and demographics.
To improve the efficacy of marketing initiatives, the target audience within the defined client
category must be narrowed down. This stage entails examining the target audience's
psychographics, purchasing habits, and demographics in order to create customized marketing
campaigns and raise consumer engagement. Determine which market opportunities the company
can take advantage of. This entails carrying out in-depth market research to find any unmet needs,
new trends, or market gaps that the company may capitalize on.

To find prospects in the online resale sector, comprehensive market research is essential. Potential
market gaps, new trends, unexplored niches, and creative product categories that offer
opportunities for growth will all be covered in this section. The opportunities that have been
discovered will be supported by quantitative data and market analysis. Examine the market
environment to determine direct and indirect rivals. Assess their advantages and disadvantages,
market share, pricing policies, and client feedback to create a competitive edge for the company..

Understanding the advantages, disadvantages, and business tactics of direct and indirect rivals
requires a thorough analysis of the competitive environment. This section will list and evaluate
the main rivals operating in the online reselling market. It will concentrate on their market share,
pricing tactics, perception among customers, and any differentiators that make them stand out.
Create a thorough financial strategy with forecasts for cash flow, expenses, profit margins, and
revenue. It should also specify the amount of funding needed and how the money will be used to
advance the expansion of the company.

Creating a thorough financial plan is essential if you want an investment bank to fund you. Cash
flow estimates, profit margins, spending breakdowns, and revenue projections are all included in
this section. It will give a thorough rundown of the capital needs and how it will be used to propel
firm expansion and yield returns for investors. Describe the marketing approaches and techniques
that will be used to connect with and draw in the intended audience. Determining the value offer,
price plans, marketing initiatives, distribution routes, and client acquisition techniques are all
included in this.
It need a clear marketing strategy to reach and draw in the target market. The marketing
techniques and approaches that will be used, such as influencer alliances, social media marketing,
search engine optimization, and content development, are described in this section. Additionally,
pricing methods, marketing initiatives, and customer acquisition techniques will be covered. Give
a thorough rundown of the business's operational components, including the supply chain
management, facilities, equipment, and technological needs, as well as the manufacturing
procedures. Take care of any legal, regulatory, or compliance issues as well.

An extensive summary of the procedures involved in the internet reselling business will be
provided by the operational plan. Product procurement, inventory control, order fulfilment,
shipping logistics, and customer support are all included in this. In this part, legal, regulatory, and
compliance issues will also be covered. Talk about the people resources needed to manage the
company well.
This covers the important players, their tasks and duties, credentials, and methods for attracting, d
eveloping, and keeping talent.

Any business's ability to succeed largely depends on its employees.

The essential employees needed to manage the internet reselling company efficiently will be
covered in this part. It will list their credentials, duties and responsibilities, and methods for
attracting, developing, and keeping talent. The business development plan will be strengthened by
stressing the need of having a competent team. Stress how crucial it is to keep the planning
process simple. Simplify intricate concepts, plans, and financial estimates to make them
understandable to prospective lenders or investors.

Planning should be kept simple to ensure that potential lenders or investors can understand it
easily. This part will emphasize how crucial it is to communicate intricate concepts, plans of
action, and financial estimates in an understandable and clear way. Better understanding will
result from the presentation of data and information using visual aids like charts and graphs. A
comprehensive understanding of the company idea, its market potential, and its financial
feasibility will be provided by integrating both qualitative and quantitative information
throughout the BDP. Getting funding from an investment bank is more likely if you present a
thorough and well-researched plan
Conclusion:

To sum up, the main goals of this thorough business development plan for an online reselling
company are to pinpoint the market, support the decision, and create a solid strategy for obtaining
funding from an investment bank. Key elements covered by the 10-step process include the
executive summary, target market, customers, opportunities, competition analysis, financial
strategy, marketing plan, operational plan, people, and the importance of planning simply. In
order to give a comprehensive picture of the business idea, market potential, and financial
sustainability, the plan integrates qualitative and quantitative data.

References :-

1. https://blog.hubspot.com/marketing/executive-summary-examples
2. https://www.bplans.com/business-planning/how-to-write
3. https://www.linkedin.com/pulse/business-plan-template-how-write-10-steps-advance-
accounting--olmmf?
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