How to write a business plan in under an hour
- Value Proposition – one descriptive sentence about your business – the “idea”.
- Market Need – the “problem” your product is responding to by being in the market.
- Your Solution – a description of your products (photos are always appreciated).
- Competition – who else in the market is doing a similar thing and why are your products better?
- Target Market – who buys your product (or will buy your products)?
- Financials, Budgeting and Forecasting – how much does it cost to produce one of your products? How much do your products cost, how many of them will you sell this year and how will you make a profit?
- Sales Channels and Marketing Activities – how do (or will) you market your products?
- Milestones – what are (or what will be) your business achievements?
- Management Team – who are you and why are you the right person to lead your venture?
- Funding Needs and Use of Funds – Optional – how much money do you need to launch or grow your business; and what specifically will you use the funds for in your business?
Remember, a Business Plan is a living, breathing document that changes and adapts to the flow of your customer feedback – it is not static, but it is a reference point!
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