Tips For Painless Business Plan
Most people get frightened when they here business plan. They think of this long elaborate document. I believe in keeping things simple. When you are starting out that’s exactly what your business plan should be-SIMPLE! Here are some tips to creating a simple business plan.
First start out by asking yourself a few questions why do you want to start your business, how do you envision your business once you start, and what problem are you solving for your customer.
The next step is do some research. Whose problem are solving with your product and service? Once you have figured out who they are ask them questions about how much are they willing to pay, what are they interested in, and what are some of their problems and concerns. You can find your ideal customer by going to the places they hang out such as Facebook groups, forums, and events they may attend. Take notes of what they are telling you it will help you in the long run
After you have chatted with your customers take a look at your competition. Ask yourself the following questions: Why would your customers buy from you instead of the competition? What advantage do you have over the customer? I wouldn’t look at the competition to long just see where you are better or where you can improve to have a competitive advantage.
Once you have checked out the competition decide will your business be a one woman/man show or will you have to hire employees? If you have to hire employees what qualities and skills will they need?
If you are providing a product think about what supplies will you need and where will you buy them from?
Now that you have an idea of product or service you will be providing. Now it is time to think about how you will get the customers to notice the products and services you provide?
You have your product/service and target market so now you need to decide how will you run the business. Will the business be online, home based, door to door sales or storefront?
Lastly let’s talk about part of the reason you went into business-MONEY, MONEY, MONEY. How much money do you need to start the business? How many products or sales do you need to have to make a profit?
Once you have written down the answer to the questions above you have your business plan completed. See that wasn’t so bad was it?