Most people are under the opinion that writing a business plan is complex. That is not the truth! You can write your business plan within an hour. Most business owners and entrepreneurs are always thinking about their business and strategies to evolve. Hence, it is not a herculean task to get the same on paper.
Insights by Jason E Fisher
There is no need for a business plan to be a lengthy document that takes you weeks to write. It should be an end-to-end and straightforward process for most organizations that helps discover the best business strategy. Jason E Fisher shares some of the aspects you can use in your business plan and write it within an hour.
1. Value proposition
It is essential to add a sentence that elucidates the value that you are providing to the customers. If you had to write a tweet and share about your business, what would it be like? You need to consider only 140 characters and make what you do sound distinctive. Your objective here is to communicate the value you are offering to customers in a way that they can understand.
2. Market requirement
What issue does your business resolve for the consumers? If you are not fixing any problem, then it will take more time to build your brand. If you are unsure, it’s best to communicate with your potential customers and ask them about the aspects they like about your service or product. Ask them why do they select your brand over others? It will help you get the answer.
3. Your solution
How are you resolving your customer’s issues? What are the services and products that you are providing? You need to describe your service or product and know what it’s better than other choices. If anyone asks you what you do or sell, what will you answer? You need to know this to know your solution.
What services and products do your customers select today instead of yours? How is your brand different? What makes your products, service, and business better than other options that are available in the market?
5. Target market
You need to know who your ideal customer is and describe them. You must get as specific as you can. You need to add details like gender, age, shopping habits, and many more. Are you planning to create different kinds of people? If yes, you need to develop different market segments for every group.
6. Sales and marketing
How are you marketing your services and products to your customers? Where are the sales channels and other places where the products get sold? For instance, if you are selling your product online, your online store is a sales channel. On the other hand, if you have a physical store, that acts as another channel. It would help if you also mentioned all that you do market your core business.
If you plan to buy advertising, you need to list the kind of advertising you intend to opt-in for. You need to know that different market segments require various marketing activities so that people notice your product and service.
These are a few of the points that you can add to your business plan and complete within an hour.