There are ten things to put into your business plan. But lets not get into overwhelm! So start a draft thinking of it as a facebook post or tweet for each section. This then gives you a starting pint to expand on later.
- Describe your business. (Value Proposition)
- What ‘problem’ are you solving in the market? (Market Need)
- Describe your product and since visuals sell, include an image. (Your Solution)
- Who is your competition and why is your product better than your competitors? (Competition)
- Who is going to buy your product? (Target Market)
- What’s it going to cost? i.e. How much to produce the items, and how much are you going to charge your customer? Go for gold and decide how many you are going to sell and what profit you are going to make. (Financials: Budgeting & Forecasting)
- How are you going to market your product? (Sales Channels & Marketing Activities)
- What have you already achieved and what do you want to achieve? (Milestones)
- Time to introduce yourself – why are you the right person to lead the team? (Management Team)
- How much money do you need to launch the business and how are you going to spend the money?(Funding Needs & Use of Funds)
Once you have your overview you can then go on to expand each section.
Once you have expanded don’t forget to then include a cash flow so you can see how you estimate the business will go and how the cash will effect what you want to do.
need a cash flow template? Just contact me and ask for one!