Writing a Business Plan...
Writing a business plan essentials help you get started in the critical decision making steps towards the future of your business. Prepare for a successful business venture.
Another good reason to doing this is that it helps organize ideas and information that gives valuable insights into whether a business idea has potential.
Putting things in writing forces our brains to dig deeper and analyze better for clear thinking.
Writing a Business plan essentials to help you get started in the critical decision making paths towards the future of your business. Prepare for a successful biz planning path with these easy steps!
It is absolutely necessary. If you don’t put it in writing is like someone who wants to build a house without a blue print. How is he or she going to do it if at all? It helps organize ideas and information that gives valuable insights into whether a business idea has potential.
Putting things in writing forces our brains to dig deeper and analyze better for clear thinking. Another good reason is that it helps us remember valuable thoughts. Doing this will be a real eye-opener. This is a discovery journey.
In addition, writing a business plan works as a sales tool to help you determine the value of your business idea. If it can convince even one person that it's worth pursuing, its more likely to be so.
However, we should first be able to identify the kind of information needed to actually start writing a business plan. So for this purpose, you will next find 3 easy steps that will get your neurons firing and fueling the writing process.
The first step is to identify the opportunities, problems, concepts, or ideas that need to be tapped, solved, and tested. Here we are getting into the market research territory. We need to answer the Who, What, Where, How? of the equation to create an hypothesis that we’ll later test.
Then, start actually writing and organizing your thoughts and ideas. Also, start gathering actual information to help put flesh into these bones. The market research process is explained in more depth here.
The second step for writing a business plan is to determine the resources we need to create the value proposition. The Value Proposition is no other than the product or service that you’ll create to tap into an opportunity or that will solve a problem.
Write and describe with as much detail as possible the product or service that will tap into the discovered opportunity, that solves a problem, or that tests a biz concept or idea. Identify the resources necessary to create such value proposition. In addition, the key activities needed to create and develop the value proposition should be described here.
The third essential step for writing a business plan in general is to figure out and define which is the best possible way to deliver the product or service created (value proposition) to the end consumer.
These are called marketing channels or distribution channels. Think about making your delivery process easy enough for you and cost-effective so that you can pass on the savings of an efficient delivery process.
In addition, it must be as convenient as possible for the clients to get your product so that this could become one of your competitive advantages. Deliver the product when, where and how the client wants it.
So, there you have it. These are the essentials for writing a business plan. This is a great brainstorming session that will help you with the decisions you’ll need to make next. Remember that making good business decisions involves analyzing every aspect of the business plan as for the resources and activities you need to get started.
This is an important analysis that provides support to the whole process. Next, let’s take a look a sample business plan and remember we will focus on future online businesses or those already established local businesses that want to develop a successful online presence and leverage it further.