Establish and writing our business plan requires structure, focus and attention to detail. According to the “Harvard Business Review”, strategic planning begins with an analysis of the strengths, weaknesses, opportunities and threats (SWOT). This analysis requires a detailed investigation of your market, your competition and how you will position your product against competition. Your SWOT analysis and the rest of your business plan will guide you in structuring and positioning of your company in the market.
Establishes and write your vision statement. Addressing your reason for starting the business, what you hope to accomplish and what your business address market needs. Describe your product or service.
Perform market research to determine who will buy your product or service and where. This includes gender and age and where your prospective customers are willing to buy (eg, city, local mall, your point of sale, over the Internet).
Identify and analyze your business proposal business proposal in front of your competition. A SWOT analysis will help you determine the competitive advantage and create a plan for positioning your product in front of your competition.
Use research and information gathered in steps 2 and 3 as a guide for developing your business strategy. Your strategy should include activities and step by step actionable plans.
Evaluates and determines how it will position your products and services to meet the strategic objectives you have set in Step 4. For example, suppose you have established a vision clear of your product or service in step 1. Your SWOT analysis and strategy may require I initially centers on just one aspect of your product or service, or specific demographic or market segment.
Write your marketing plan. Includes local marketing and Internet marketing. Includes marketing with ad copy, separating text ads to target population groups. You should seek to write your marketing plan relatively simple after you successfully complete steps 4 and 5.
Determines type and operating plans necessary to carry out your business plan. Includes operating structure, office facilities, number of employees, office equipment and requirements necessary startup inventory.
Investigate and determine the capital you need to finance your business. The more detailed you are in Step 7, you can more accurately calculate your capital requirements.
Write your executive summary. The bankers and potential investors or venture capitalists read the summary to decide whether or not to take a closer look at your business plan for funding. Use the summary to condense research and information gathered in steps 1-8 in a convincing proposal. Includes central concept of your business, products and services, the need for the market to which you are headed, critical success factors and your financing needs.