This is part 1/12 of Write Your Business Plan: Part 1: Basics of the Business Plan Series.
Are you wondering if it is time to put in writing a business plan? If you are watching this, the answer is yes.
Simply put, having a business plan will enable you organize your thoughts about what you plan to do and the way you plan to do it. Your plan may change as your business launches and grows – in fact, it almost actually will – but writing it out now can be a excellent spot to begin and help potential investors understand your vision.
So what must you include in your business plan? Although they will vary greatly in length and detail, any solid plan will include the following elements:
- Your core business concept. What is your product or service and how will it fit into your customers’ lives?
- Your sales strategy. What goals do you have for your company? And how do you plan to succeed in them?
- Your competitive benefits. What sets you apart? Why will customers need to buy products and services from you and not from your competitors?
- Markets you’ll follow. Who will your customers be? How to draw and keep them?
- Your management team and key employees. Who are the people involved and what do they create to this particular company?
- Your financial needs. What will you might want to launch and sustain your start-up business?
Concise and clear answers to those questions will enable you, your team, and potential investors stay on the same page.
To get began, read on or order a copy of Write Your Business Plan at (*1*).com Bookstore.