How to Write a Business Plan?

Introduction

A business plan is a formal statement of a set of business goals, the reasons they are believed attainable, and the plan for reaching those goals. It may also contain background information about the organization or team attempting to reach those goals. “wikipedia”

 

According Kiyla Fennel of UltimateBizSystem.com a simple business should contain the following:

a.  Mission/Vision.

The first step is to write your dream into a one sentence  mission statement. Describe your vision

b.   Goals

Identify your goals. What is success for you? What is your term.  Is it going to be a short term?  Short term runs for  12 months, Medium term are for 3 years,  and long term are for those that  are to run for  more than 3 years.

d. Unique Offering.

Determine your unique offering (niche). Make sure your message is very simple. If people don’t understand you, you wont be able to sell so many. It should be Narrow and tight. You don’t wanna service everybody. The perception of your unique offer to you customer mus be one of  very high value.

e. Marketing.

Once you have defined your unique offer, How are you going to get the word out to people. In marketing there’s a certain “price point”. Price point is the price where people are willing to  buy.  If you sell too high, you won’t be able to sell. If it’s too low, You might “devalue” your product.

You have to identify the message. What do you want the customer to feel about your product and services. You have to plan how to send the message out to your customer.

f. Demand.

You need to research the demand by studying your competition.You also have to study saturation.  Saturation is how many business is out there doing the same as your.  You need to make sure that your market is strong when you enter in.

g. Market

You have to study if  the business you are entering is  declining or booming. Don’t enter if this is a dying industry.

h. Customer.

You have to know who is going to be giving you the money for what you are offering. The more focus you are to the customer the more beneficial it will be. Know their 5 w’s.

The  most important thing to remember.

The most important thing to remember is that your marketing plan should align to your passion. Something that will make you interested to get out of bed every morning.

 

 

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