Doing Business in India For Dummies®

Creating a Business Plan

Think of your venture like building a house in unfamiliar territory. Your architect’s plan needs to take into account the peculiarities of the terrain and the climatic conditions and resources available and then tailor them to best fit your needs and build the best possible house. Drawing up a plan for a business venture in India should be done in the same way. In this section I fill you in on some important items and concerns that shouldn’t be ignored when writing up your business plan.

Do your homework before starting your business plan. Chapters 2 and 3 of this book give you a good overview of what you need to know about the fundamentals of India, and Chapter 5 tells you about the possible entry strategies.

Making sure your plan is versatile

Though the components of a solid business plan are roughly the same everywhere in the world, India has its own take on everything. Your Indian business plan needs to be versatile enough to serve as an effective means of communication, management, and planning. The next three sections explain the nuances from the Indian perspective.

Promotion

Your business plan needs to communicate important information to a variety of different parties. For example, your plan needs to do the following:

✓	Assist in courting joint venture partners and strategic business partners (key service providers, vendors, and so on). To woo ...