6 STEPS TO WRITING A GOOD BUSINESS PLAN

1. Your Company’s Core Values

Create a business mission statement and company overview.

Choose the core values of your company in order to express them in your products or services.

2. Describe your Products or Services

Describe what your products or services are and who your target market is. Also research into your competitors.

Answer when, where, why and how should these target customers buy your products or services? Also identify your several potential target markets.

perdm-business-plan

3. SWOT Analysis and Competitor Analysis

Write down your strengths, weaknesses, the threats to your business and the opportunities you can capitalize on.

Competitor analysis and bench marking – study the strategy, objectives, and assumptions your competitor has and know their resources and capabilities.

4. Marketing plan

Decide upon your business strategy – which of the cost leadership or differentiation strategies do you want to adopt? Know your customer profile and price your product or service accordingly. Choose the advertising channels and marketing techniques subsequently.

5. Operations

What are the roles and responsibilities needed to form your internal business team? Who are your suppliers, which areas will you need to outsource and who will make the final decisions?

6. Financials

Break-Even Analysis
- Estimate your capital requirements in order to break-even and estimate when your break-even period will be.

Opportunity to scale – Forecasting how your company will evolve is very important for your investors, partners or other stakeholders.

 

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