A Business Plan is a written statement of your business which helps you to give way a to analyze and expand your business through detailed projections which help to meet the need of the future.
|Business Plan – How to write a Business Plan|
How to write the Business Plan step by step process?
Before doing any plan for the business you must ask some questions to yourself, the question I mentioned below for you may be bitter in nature but they will help you to know the actual model of your business.
- What problem do I solve for my customers?
- Who is my targeted customer?
- How will I communicate with my targeted customers
- Where will my business be located?
- What hours will I operate?
- Who will work for me and how he will get paid?
- What are the competition’s strengths and weaknesses?
- How I will advertise and promote my business?
- Who will handle critical tasks like selling, ordering, bookkeeping, marketing, and shipping?
- How am I different from the competitors, as seen through the eyes of the customers?
The requirement to write a Business Planning :
1. Value Creation
As we know that there are only a few things that create money in business and i.e a value. The higher the value you provide to the customer through your business the higher you earn. Earning will be money, respect, name, etc.
How to implement your business planning in the actual market?
- It is very easy to explain and make business planning in written form but it is very hard to implement in the real market that’s why I mentioned this question at the end of the post.
- Break down your goal into small-small pieces and start achieving it one by one by making it simpler and easier. It will motivate you and increase your focus on work.
- Don’t try to take the big step in beginning.
- Dream big but start with small.