A business plan is a document that outlines the goals, objectives, and strategies of a business. It is used to help entrepreneurs secure funding and create an actionable plan for achieving success.
Making a business plan is one sign of the seriousness in running a business. A business that is run without a clear plan will easier to fail.
Everything written in the business plan must be detailed and realistic. This document will be the guide when running the business. In addition making busiess plan must be clear ad easily understood by other people such as employees, business partner, or other parties who maybe involved, such as investors.
A business plan can be as simple as a few pages or as long as 200 pages. It can be written by the entrepreneur or created with the help of a professional consultant. The process typically includes market research, financial forecasting, and competitive analysis.
The following are some important points to consider when developing your own business plan:
- What are your goals?
- How will you achieve them?
- What resources will you need?
- Who are your competitors? What do they offer that you don’t?
And after that steps you can streghten your business plan with the business canvas model that will guide you through the following poits:
- What are the value propotition?
- Is the value that is communicated and provided by the company to the customers when they choose the products or services offered. This value can help the business to be unique from the others so the business will competitive.
- What is your customer segment?
- The main purpose of customer segmentation is to determine customer behavior so that marketing method will more targeted and on target, so that advertising and promotion cost will be more efficient.
- What the key resources of the business are?
- What are the key inputs and assets for the business to function. This can be financial or non financial aspects such as human, intellectual and goods. And this also can be owned or rented.
- What the key activities of the business are?
- What are the main things that the business must do to develop and maintain the business and the competitiveness of the business. What the company must do to make the business run.
- Who are your main partner?
- Who is the network of the company, who are the other entities that help the company to run the business.
- What chanels will you use to deliver the products?
- The way or how the company delivers products or services to customer directly or indirectly. One channel can reach one specific customer segmen or more. And the company can have multiple channels for the business.
- What will you do to retain your customer?
- This customer relationship important to keepe customer loyal to the company. There will be efficiency in marketing if the company can retain the customer for long time.
- What is the cost structure ?
- This describe how company spends its resources to create values. It can be fixed cost and variable cost. It describe the overall expenses.
- What are the revenue stream?
- The money that company generates from all products they have to all customer segments.
Planning The Business.
- The money that company generates from all products they have to all customer segments.
