By Abdel Steijns at April 28 2019 07:20:35
Some of the questions a growth business plan might ask you are: _ Are you comfortable that the market wants and is willing to buy your product or service? _ Is your product or service priced so it is competitive in your market? _ What's different about your product or service? Why would a customer purchase it over someone else's? _ Is your market big enough to support your business? What about 15 years into the future? _ If you wanted a better lifestyle, what would your business need to do to give you that lifestyle? _ How much sales would your business need to generate to give you that income? _ How much sales would your business need to generate to give you the income you want 15 years into the future? _ What will be the cost of your labor and material? _ What will your expenses run? _ How much will it cost to overcome the capacity constraints that will occur as your business grows to meet your income requirements? _ Will your profit give you the income you want in the future and at the same time maintain a healthy business for you as well?
In Summary _ Planning out your business on paper first gives you long_term benefits with potential investors, employees, vendors, and suppliers. The business plan becomes your roadmap to success, with pertinent data that shapes the course of your business start_up and lets you adjust your journey as contingencies arise. Business planning templates are readily available and data sources abound at your fingertips. You will achieve a solid understanding of your business as you work through each section of your plan.
So why make a business plan? I want to show you a totally different kind of business plan. What if you made a business plan that focused only on what you want for your life? You have dreams about what you would like your lifestyle to be, right? Why not make a business plan that could give you those dreams? What would your business look like if it gave you exactly what you want in life. What kind of salary would your business need to give you? Why not build a business plan around that? Decide how much salary you would need to support your dreams and then build a business plan that would show exactly how your business could give you that. Wouldn't it be better to have your business work for you instead of the other way around?
Marketing _ How is the product or service priced? How will it be distributed? How will it be promoted? Will it be promoted by the venture or an outside agency? What agency? How have you determined what amount to set aside for marketing? How have you determined product or service forecasts? Possible Data Sources: on_line searches; Amazon; local outlets; trade journals; industry attorneys & accountants; salespeople.