Free Essay on Personal Business Plan

A personal business plan which is sometimes known as the personal development plan is a guide that follows some principles of life and is similar in one way or another to the business plan. An individual writes a business plan to review his or her personal goals relating their career, financial development, and family. Once an individual writes a business plan, it is upon the person to execute that business plan. The personal business plan can be modified during its execution process, and this allows the person to meet the market demands at that particular moment. Therefore, my personal business plan is as follows:

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Vision and Opportunity

It is my vision to achieve and accomplish my personal goals and objectives. After studying in the college and completing my HTC education, it is upon me to set a personal business through the application of the skills that were learned while undertaking the HTC education.

I plan that in the next three years; I would have established my business and would be enjoying the profits from such a business. I aspire to become an entrepreneur in future because I plan to be my boss and achieve personal growth. Furthermore, I plan to be an entrepreneur so as to create job opportunities for the unemployed people and contribute to the building of the countrys economy.

If I do not start my business, I plan to be employed and deliver the best services that would drive the organization or the company to higher levels. I plan to dispense my knowledge, skills and talents in producing quality services that will attract customers to the company that I work for.

There is a huge market in the current world and require people who can come up with services that satisfy the needs of the customers. I, therefore, believed that with my skills concerning the HCT, I will be able to come up with goods and services that meet the market needs.

Marketing and Implementation Strategy

My market position statement is Producing high-quality products and services that satisfy the customer needs, respects the environment and meets the globally accepted standards for business. The most important advantage to my personal development is the availability of the customers who will consume my products in the industry. By utilizing the acquired skills and knowledge, I will be in a position to create services and products that will be competitively placed in the domestic and global market.

If I decide to be employed, my employers will benefit from my extensive knowledge that will be utilized in the production of high-quality goods and services. I believed that I will add value to the company that will employ me in the future as the efforts will be dispensed to serve the organization to the best of my knowledge.

Even though some other students might have the same knowledge with mine, but what will differentiate me from other people with the same knowledge is the behavior. Respect is the behavior that allows me to relate well with my fellow employees and the employers as well. Furthermore, the business communication language that I have will ensure that I work well with the employees within and outside the company. I also respect the customers as the core stakeholders in any business since all the goods and services created are geared towards meeting the particular target market. What is more, the international relations education and experience I have will allow me to work in all the parts of the word which also differentiate me with others people with the same skills and knowledge.Risks and Mitigation

The future success might be faced with a myriad of risks. The risks might affect the successful serving of the public even when the knowledge and skills could be utilized. The risks include the competition from other people who have the same knowledge. In the current world, most of the workers are employed based on their skills, knowledge and experiences. The experience might bar me from being employed by the particular company. The company might state the persons being employed are required to be having some minimum experience and during that time, I might not be having the experience. This is a risk that can limit me from joining the company. Furthermore, nepotism, bribery, and corruption can limit my joining of the various organizations. In the current world, some employers might employ their workers based on the relationship with particular employees or stakeholders of the company. This will be a big risk that might impair my ambition of serving the public diligently. When it comes to entrepreneurship, the business might be faced by such external factors as the competition from the already established businesses, and thus it might be difficult to enter into the market and achieve the market share. However, these risks can be countered through the acceptance strategy. It will be important to accept that risks are there and this will allow for coming up with strategies for handling the risks and eventually attaining the set personal goals and objectives.

Ethics

Ethics are important norms that will allow for achievement of the set goals and objectives even if problems are witnessed in the environment. I will ensure that I adhere to set ethical standards governing the society. In the workplace, it would also be important to follow the set rules and regulations. Mentors will be of great importance and by following their steps, I believed to achieve the personal goals and objectives.