Your business plan is a reflection of you so make sure it is up to the mark. It is the first step to get your ideas known to the world. If you are looking for funding or investors, having an efficient and effective Business Plan that conveys your message saves your energy and makes your life easier. The following points are needed in order to create a business plan that not only fits your needs but the requirements of the investors.
For the First Part, 5 Key points are listed in which your Business Plan will surely be a WINNER!
§ The executive summary is the primary part of the business plan. You need to start by giving a brief explanation of:
· What your company does?
· What it aims to achieve?
· How it will accomplish its goals?
§ In a concise manner, describe the unique attributes of your company that will lead to its success and provide an outline of your financial projection for the next 3 years. This will entice the readers and enhance their trust towards your company
3. Industry Analysis
§ This particular section includes two sub-sections which are listed below.
· Market Overview
§ In this part, the size and characteristics of the market will be discussed
§ Sectors in the market
§ Market trends
· Market Size
§ Taking into account the market share, the section on market size includes the projected annual revenue of your company,
§ The number of customers you are targeting,
§ The sum of services you are offering
§ The amount of money that the clients are willing to spend
§ This particular section included two sub-sections which are listed below.
· Target Customers
§ Containing current and intended client base
§ Discussing the demographic data
· Status (Married or Single)
· Customer Requirements
§ You need to stipulate why the clients will choose your products or services
§ What is your company providing which the other companies do not have
§ What are the consumers focus on
§ How to get their attention
5. Competitive Analysis
§ This particular section includes three sub-sections which are listed below.
· Direct Competitors
§ Provide an outline of your direct competitors
§ Analyze their strengths and weaknesses
§ Highlight the main aspects that make you stand out or different
§ Indirect Competitors
· Provide an outline of your indirect competitors
· Analyze their strengths and weaknesses
· Highlight the main aspects that make you stand out or different
§ Competitive Advantage
· Identify the factors that will make you effectually compete against the direct and competitors
· Define certain points that showcases your leverage over the competitors
· Highlight positive elements when customers choose your products or service
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