Business plan 1
First start plans for business
Your Executive Summary is essentially a brief overview of your business plan as a whole. The goal is to break down each key section into a sentence or two to convey a birds-eye view of your business and prepare the reader for the content to come. See more:
The Company Description will serve as a “big idea” statement that introduces your company, what it does, and why it matters. It conveys to your readers the direction your company is going, and the scope of the business you’re building.
Every great product or service starts with a clear and specific problem that it’s setting out to solve. What problems do your target customers face that your product/service solves for them?
If you don’t articulate the problem you’re solving really well, then the solution (and rest of your plan) falls by the wayside.
Once you’ve explained the painful problem you’re setting out to solve, highlight how your product/service connects back directly to that problem and solves it beautifully.
How big is your total addressable market?
Is it growing? By how much?
Is the market big enough for potential investors to get excited about?
Have there been any notable exits from similar companies in your space?
See more:
F. Product (How it Works)
Give readers an overview of your company’s products and services, their key features, with a special emphasis on what makes them unique from existing solutions in the market.
How does (or will) your company make money?
How are you pricing your product/service?
How does your pricing compare with similar products in the market?
What are your revenue projections for the next 5 years?
While your Revenue Model explains the ways you’re going to make money, your Operating Model is all about the clever ways you’re going to manage costs and efficiencies to earn it.
Identify other similar companies working in your same space:
What are your their strengths and how do you plan to neutralize those strengths?
What are their weaknesses and how do they translate into an advantage for your company?
See more:
J. Customer Definition
Define your customer to help readers get a crystal clear understanding of who is most likely to use and buy your product:
What are their personas?
What are their demographics?
What motivates them to take action (make a purchase)?
See more:
K. Customer Acquisition
What strategies will you implement to actually acquire your customers?
What acquisition channels will you explore (direct sales, paid ads, SEO, social media, etc.)?
What are the cost assumptions for each channel?
L. Traction
List any accomplishments that signal to readers that your company is making moves:
Where are you in the product development process?
Have you established a production or manufacturing partner?
Have you secured any notable partnerships?
Do you have any patents for the technology or ideas behind your company?
See more:
M. Management Team
Introduce your team and how you’ll work together to bring the business to life. Each team member bio should include:
The team member’s name
Their title and position at the company
Their professional background
Any special skills they’ve developed as a result of their prior experience
What makes them uniquely qualified to drive success at your company
N. Funding
How much money do you need to meet your next milestone?
What are your terms (in other words, what will investors get in exchange for their investment)?
How will you use the funding that you secure?
O. Financials
Determine what assumptions you need to target in order to make the business viable. Typical assumptions include:
Sale Price per Product
1.Cost of Goods Sold
2.Customer Acquisition Costs
3.Staff Costs
Comments
Post a Comment