Business plan

The most interesting subject in this semester is Food Process Design where include topic like costing, plan set up and last but not least, how to be an Entrepreneur! I never imagine i will be an entrepreneur one day, coz i am so coward to take a big step, used to be follower long time dy. However, after this course, i start to admire and respect those local entrepreneur, regardless succeed or failed.

By doing business plan, we learn all the things from tip to toe for plant set up. A lot of calculations involved.Firstly, we need to calculate the capital cost, then production cost, then estimate the profit tat u wan to gain, from that you can calculate the transfer price of your product (ex-factory price), then estimate the margin of the retailer and wholesaler,finally you can get the market price of your product.Next, u need to calculate ur payback period, internal rate of return, and turn-over ratio,etc etc etc...This is just a very simple flow of the calculation, and it is only one part of business plan. U still need to have ur company profile, product description, advantages and selling point of ur product, consumer target, market target, organization chart of ur company.It is far more complicated tat u and i can imagine...and it takes a long time to do it before u really start ur business.Besides, a good plan strategy is very critical in designing a business plan, because "If you fail to plan, you plan to fail". And..if u fail to plan, u cant get loan from bank, then u will not have money to invest and buy equipments for ur production run...

So? Wan to be a entrepreneur and start ur own business? Better think twice before u really engage into it.