Easy Business Plans

Easy Business Plans-33
Then, illustrate the process with a simple graphic like the one above.Entrepreneur Patrick Fitz Gerald explains this in more detail, and provides more examples, in this video lecture.

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Along with describing your target customers, you should outline the other businesses that exist in your space.

Although every entrepreneur dreads to reveal their potential challenges, comparing yourself to competitors drives the point home on what makes you unique and advantageous. It’s incredibly rare for a business idea to be so unique that there are no existing competitors.

In order to explain how your business “solves” the problem, you may need to get more detailed.

Consider a separate section that highlights the “front-end” of your products/services – in other words, how your product appears to and is used by consumers.

Try it free for 60 days and then expand your one-page plan into a full business plan using the same process plus over 500 sample plans for inspiration. A business plan takes all the key considerations of your business, from your 1-sentence pitch to your revenue model, and puts it in a single neat document.

Whether you’re a new, established or evolving business, everyone needs to have these answers prepared and reevaluated over time. Even though your business plan is something you’ll reconsider constantly (such as, when competitors come and go), it’s not always necessary to put it down on paper.If you’re selling a physical product, you can take a different approach and simply display your product with arrows pointing to all the unique features.Other ideas include a “before/after snapshot,” which illustrates how consumers went about a problem before and after the introduction of your product.(You’ll describe the backend later on when you get into your business model.)One way to do this is to draw a visual step-by-step process.Think of the 4 to 6 main steps of how your product/service is used.Here’s all the common ways entrepreneurs write business plans today: Regardless of the medium you choose, or whether you’re writing a one-page or full-length business plan, there’s 9 key components all business plans include.While all of these should be considered, you may emphasize, skip, or move around some sections depending on your particular situation: The first part of your business plan is a brief summary of your business: Start it off with your 1-sentence pitch.This is a bite-sized description of your business that explains your unique approach AND leaves the reader’s mouth watering.Here’s an example from a winner of Geek Wire’s 2012 one-sentence pitch competition: The rest of your executive summary should briefly explain your company’s story and introduce your specific products/services/locations.Again, this shows you’re knowledgeable about the industry and market.It will also be helpful when you write your marketing model further below.

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