Write Your Business Plan

Write Your Business Plan-74
COMPETITORS Lastly, what competitors are out there and how do they tackle this problem?

COMPETITORS Lastly, what competitors are out there and how do they tackle this problem?A lost of people think, they don’t have competitors. Either you have competitors that offer a similar product or at least you will competitors who try to solve the customer problem in another way.Why make the effort and writing 30-40 pages when you could focus on product development or sales?

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In this article I’ll show you (1) what a business plan is, (2) why, when and for whom to write the business plan, and (3) the elements of a good business plan.

A business plan is a 30-40 pages long description of how you want to build your company.

In the business plan you want to explain what customers you want to target via which marketing channels, what makes you different from competitors, who the management team is, how you are going to make a profit, and what the milestones are for achieving your business plan.

So, in a nutshell a good business plan follows the following story.

It is totally fine to have a first business plan covering the key business model drivers and milestones you want to achieve on 3-5 pages.

Write Your Business Plan

Once you learn what customers really want and how to profit then you increase the detail of your business plan (e.g.

If you have any sourcing or production related partnerships, then state them here. You have your product defined and why customers should buy your product.

Now, you need to show which advertising and sales channels you want to use for approaching potential customers.

Make sure you describe why your product or service solves the problem in a more effective or efficient way, so you will have a value proposition over competitors.

Your business plan should also specify the customer benefits of your product (making something faster, cheaper, more reliable, more effective, more beautiful).


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