How to make a business plan and what are the essential elements for success
All of this allows the business idea to be express, with all the details necessary to evaluate and make the decision to start the company. The business plan is in fact a document that includes the essential aspects of the company and the market: the opportunity, the product, the context, the strategy, the team, the resources, the financing and the profits, which demonstrates the viability of the business elements for success .
The executive summary is design to capture the attention of the company’s decision makers. It should include the main messages of the business plan, highlighting the product’s qualities, the value it offers elements for success to the customer, the markets it is intend for, management capacity, financing and return on investment.
“The business consists of creating a classifi ads
website with offers and requests for surplus production and remnants of series, together with a business directory. The sale of a package with add value services for sellers. 40,000 Euros are ne for the creation elements for success of the website, as well as to have sufficient equity for the first 2 years. In the 18th month the break-even point will be reach. With a total of 200 clients and a turnover of 15,000 Euros per month” (“Barcelona International Management Business School”, 2010”)
2. Product or service
Analyzing market trends and how the product could work within it is also essential. For example, if it would mean rapid growth since marketing is done online and there are 4.54 billion internet users in the world ( Marketing4ecommerce , 2020). And if in such a case, would there be any problem since there is no platform for the local australia telegram phone number list business where the products would be sold.
In addition, it is necessary to analyze whether it is a local, national or international business. We must also expand the information with the type or types of service that this business offers. An example would be CityScape, which offers basic, deluxe or catalog services. In this case, the services are expand as the user’s payment increases. In which the services are expand as the user increases the payment.
3. Management team
The management team is essential valentine’s day email marketing guide in structuring the business plan and how members increase the company’s chances of success. The company must have a team with a common vision and clear objectives regarding the business. Teamwork is essential. Groups of 3 to 6 people are ideal.
It is also important that, in addition to analyzing the current situation of the company, the management team considers the company’s past successes and how they have been achiev. They also analyze elements for success the successes of the competition and how they have been achiev.
At this point we must be clear about the attractiveness
of the market and the ease of attracting customers within it. To do this, we must carry out market studies indicating. The size of the market and its growth, market segmentation (why we chose one group of customers and not another) and identify the competing companies that have the most potential, adding why customers would aleart news choose our product and not that of the competition.
In addition, we must know the nes of the
5. Marketing and sales
In marketing and sales , the main objective will be to plan how the product will be sold in the business plan. In this section, specific characteristics of the product are add, such as price, distribution channels, promotions (to companies and consumers) and commercial alliances.