The first step in the preparation of an action plan:
Identifying the project idea, which must be attractive and innovative, in order to achieve the income targeted by the project owner. This requires reckoning ideas and identifying the feasible ones, which can be carried out to establish a successful small project.

 

The second step in preparing the action plan:
To prepare for a preliminary feasibility study which starts by a market study qualifying you to define the gap, which represents the difference between supply and demand, on the product/service you wish to offer to the market. After identifying the marketing gap a marketing study must be carried out, as the market mix will be studied in a clear methodological form in which the product/service and its specifications will be identified and also its technical specifications to enable defining the various methods of production.

 

Also the price has to be studied and decided, which plays an important role in increasing sales of the goods or services, in a way which allows generation of income, which in turn will allow product development. Also the different methods of promotion for every product/service have to be defined to allow designing an intensive advertising campaign leading to increase in percentage of sales. We cannot overlook the importance of the location of production, as production can take place in areas close to distribution sites and dealers, which will contribute to achieving sales planned for accurately.

 

After completing the previous steps, the technical study will be defined, through which methods of production and locations of distribution and all technical needs of the small project are identified.

 

Finally, a financial study of the funding required to execute the project, also revenues and expenses of the project, is carried out. In case a loan is required, the amount and interest of the loan have to be calculated and the ability of the project to pay back the loan and the period of redemption.