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10 Fundamental Steps for a Business Plan

To secure financing, partners, and engage in business, every entrepreneur must have a well-prepared business plan that serves as a concise, clear, and concrete introduction. In this context, the Economist Pedro Rodríguez, director of MINA, shared in an exclusive interview with the Fundación Compartamos Mujeres in Ecuador the 10 fundamental steps for creating a successful business plan.

It's essential to highlight Pedro Rodríguez's extensive experience, having served as the Director of the Human Resources Office in the City of Philadelphia and played key roles in various organizations. This background qualifies him as a valuable advisor for entrepreneurs. Although creating a business plan takes time, Rodríguez simplifies the process for entrepreneurs to have a clear understanding:

Key Steps for Creating a Business Plan:

1. Executive Summary: Clearly explains the business idea to capture the audience's attention.

2. Company Description: Provides details such as the company name, location, type of business, and partners. Includes mission, vision, values, and objectives.

3. Market Analysis: Investigates data on competition, the number of similar businesses, and customer behavior.

4. Products or Services: Details of relevant aspects of the products or services offered.

5. Marketing Strategy: Defines the strategy to sell and attract customers.

6. Company Organization: Presents the formal structure and functions of each role.

7. SWOT Analysis: Analyzes the strengths, opportunities, weaknesses, and threats of the company.

8. Operational Plan: Describes the physical space and operations of the company.

9. Financial Projections: Provides realistic data about the company's finances.

10. Growth Strategies: Proposes concrete ideas on how the company will grow year after year.

In MINA's training program, entrepreneurs will have the opportunity to delve step by step into how to create this business plan with personalized guidance. This approach facilitates understanding and practical application at each stage of the process, providing participants with the necessary tools for business success.

Watch the full interview at:

Editorial: Norma Bolaños

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