Are you trying to start a business? Learn how to write a business plan guide 101, and outline how the company will operate, declare goals, and develop strategies on how you will attain each goal.
How to write a business plan to start your own business
When writing a business plan, it must include the following six pages:
1. Overview: It gives a basic understanding of the company's structure and what it does.
Legal business structure
A short description of what your company does
Mission-the driving force behind your company's plan and what you plan to achieve
Accountability chart: It describes those accountable for running different tasks in the business. The three major areas in businesses include finances, operations, marketing, and sales.
2. Message: Have a clear message of what you would like to communicate to your clientele base.
Your message should answer the following question:
Why should customers choose you?
Who does your company serve?
Why do you do the business?
What solutions does your company offer your customers?
What results does your company create for the customers?
How does your company make those results?
What's your company's business plan step by step for creating those results?
These questions show your customers how you will attain what you promised them. At the same time, it shows what sets you apart from your competition.
3. Marketing: Define your target market by their;
Psychographics -centers around their interests, desires, and fears.
Demographics -that include where they live, their age, their income.
Where you can find a group of your target customers.
The size of the target market
Visibility strategy-How will people find out about your products and your business?
Lead generation strategy-It explains how you will establish contact with your prospective clients.
Conversion strategy: How will you turn the leads you have generated into paying customers?
4. Product: A product could be digital, physical, or service. Choose one product that you will focus on to make your simple business plan development easier.
Identify the primary product
Discuss the results the product creates-
The impact that the product creates-How the customer's life is affected by the outcome.
5. Production and delivery: This part of the business plan will be unique to your company because production and delivery vary from one company to another.
Afterwards, you can list down the other products, discuss their results, and impact your customers.
6. Goals: If you're starting or have been in business for a few years, set goals instead of projections. Set between one year and five-year goals. This helps you understand where you're currently and what you plan to achieve in the long run. However, focus on;
No of sales
Total revenue e.g. profit
Impact –No of customers
Goals should be specific, measurable, and have a timeline of when you plan to achieve your target.