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If you can add following 10 points into your business plan, it will cover all major aspects of the Business Plan.
- Identify Need / Problem
From wallet to your bike we can see need for improvment in everything. Identify the need and covert it into business.
Need:
Solution: - Executive Summary:
Give shape to your business plan in this paragraph. It can act as a executive summary as well for the - Goals and Objectives
What’s the purpose of your Business list down the major objectives of your business plan. - Your Market
Check the potential of your market.
Total Market Size:
Locations target:
Percentage target: - Know your customer
Estimate the size of population you can cover.
Research and estimate the demand for your product.
Total population:
%age target: - Budgeting and Funding Every business needs investment and funding. How are you planning to fund your idea. It can be interms of Loan, Venture capitalist, Self funding or Crowd funding. Estimate the costs of product development, marketing, employees, property rents. 1st year investment: 2nd year investment:3rd year investment:4th year investment: 5th year investment:
- Define Marketing strategy
Building a excellent product is good but if not supported by good marketing strategy. So talk about your marketing plan here. You can employ and one of more of the methods given below:
Print media marketing
Co-branding and affinity mktg
Social media marketing
Point of sale mktg
Internet marketing
Content marketing
Referral marketing
Networking events - 5 year growth plan
Estimate the growth plan for the next five years. Forecast the expected Sales, number of products sold
1st year revenue:
2nd year revenue:
3rd year revenue:
4th year revenue:
5th year revenue: - Profitability
Forecast the demand and pricing of your product so that you can estimate the revenues. It’s normal for startups to have negative profits for the first few years and growth in the future.
1st year profits:
2nd year profits:
3rd year profits:
4th year profits:
5th year profits: - Execute idea kickoff
Visualise how the company will look like. Where will be the first office, where will be first product sold, how many employees and products.
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