What Is a Business Plan? A business plan doesn’t need to be a 75-page document that you write, print, and place proudly on a shelf in your office. Those days are long gone — thankfully. A business plan can be done on one page, and should merely have brief descriptions for each of the following 10 categories. Channel Twitter in that each section should not contain more than 140 characters: A one-sentence description about your business. (Value Proposition) The “problem” your product is responding to by being in the market. (Market Need) A description of your products (photos are always appreciated). (Your Solution) Who else in the market is doing similar things and why your products are better? (Competition) Who buys your products (or will buy your products)? (Target Market) How much does it cost you to produce one of your products? How much do your products cost, how many of them will you sell this year, and how will I make a profit? (Financials: Budgeting & Forecasting) How do (or will) you market your products? (Sales Channels & Marketing Activities) What are your business achievements? What are you working toward? (Milestones) Who are you, and why are you the right person to lead your venture? (Management Team) Optional: How much money you need to launch or grow your business, and what specifically will you use the funds for in your business? (Funding Needs & Use of Funds)
Posted on: Tue, 20 Aug 2013 19:59:34 +0000
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