A typical entrepreneurial process consists of the following 5 stages
Your Business Plan
Think of your business plan as a formal document that can help you organize your thoughts. The entrepreneurial journey begins as an idea; a solution to a problem; a need that you think exists and your solution can satisfy it. Your business plan starts as a reference document around your idea.
Do not shy away from writing your thoughts down. Even if you are unable to fill in all the blanks, you should be able to identify the following:
What is the Opportunity?
- See opportunity as a means to solve a problem. Hence, problem itself needs to be understood to see if it is worth a solution. Remember to focus on why? Why your idea? Why your product?
- Also try to jot down the solution that you propose for the problem you identified.
- Click to download a template for writing your opportunity; problem statement along with your prescribed solution.
What is your target market?
- Target Market refers to your customers. Who are your key customers? What are their attributes? Are your targeting a specific group of customers (called segments)?
- Click to download your target market template.
Who are your competitors?
- Identifying your competitors is a key variable for your business success. Competitors are all other businesses offering products or services regarding the same problem.
- Do keep in mind the competitors might not be offering products similar to yours however, they are perceived to solve the problem you have identified.
- Click to write down your competitors
A good business plan template can help you get your thoughts organized. It can provide a guideline, so that you’re not stuck looking at a blank page trying to figure out where to start. Although there are thousands of templates available for a business plan, we have identified a simple, yet comprehensive template to give you a jump-start. You can download the template.
Guide To Businesses
A partnership is an arrangement where parties, known as partners, agree to cooperate to advance their mutual interests. The partners in a company may be individuals, businesses, interest-based organizations, schools, governments, or combinations. Organizations may partner to increase the likelihood of each achieving their mission and to amplify their reach. A partnership may result in issuing and holding equity or maybe only governed by a contract.
According to the Companies Ordinance, 1984 there can be three different types of companies:
- A company limited by shares
- A company limited by guarantee
- An unlimited liability company
There are certain rules that you have to follow for…
- General Partnership
In a traditional partnership model, all the partners share in the profits and risks of the business. Each partner has unlimited liability for the debts of the company – your assets can be seized if your business owes money. If your partners do anything wrong with the business, you are also held responsible.
- Limited Partnership
Limited partnerships have two different types of partners….
Availability of Name
- The applicants will connect to https://eservices.secp.gov.pk/eServices, to signup, if he or she is a new user. The applicants will receive an e-mail containing the user activation link. The user account will be
activated by clicking on the link,
- The client will log in to eServices and will have to select “Fast Track” option in order to enter information and for the submission of the application.
- After that, the applicants have to pay the prescribed fee…
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