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This discussion will later help you to pitch your product to potential customers.
As a starting point you can use this or that free business plan template.
This means you’ll have to be very specific about your business model, because investors get hundreds of business plans every month, so make sure your business plan stands out from the crowd.
In the business plan you want to explain what customers you want to target via which marketing channels, what makes you different from competitors, who the management team is, how you are going to make a profit, and what the milestones are for achieving your business plan.
So, in a nutshell a good business plan follows the following story.
In this article I’ll show you (1) what a business plan is, (2) why, when and for whom to write the business plan, and (3) the elements of a good business plan.
How To Write A Business Plan Report
A business plan is a 30-40 pages long description of how you want to build your company.If you have any sourcing or production related partnerships, then state them here. You have your product defined and why customers should buy your product.Now, you need to show which advertising and sales channels you want to use for approaching potential customers.Make sure you describe why your product or service solves the problem in a more effective or efficient way, so you will have a value proposition over competitors.Your business plan should also specify the customer benefits of your product (making something faster, cheaper, more reliable, more effective, more beautiful).The external purpose of the business plan is mainly to receive funding (equity or debt), thus the potential addressees of the business plan can be: It is important to frame the information in the business plan to the needs and investment profile of the investors.For pitching equity investors you should focus on the disruptive factors and upside potential of your business while for debt investors you should clearly state the risks and position yourself as a risk minimizer (I mean, your business has no risk it cannot handle, hasn’t it 🙂 ).For this, you will need to write a very detailed business plan which will be the basis for investors to make their decision to invest in your business or not.This fully fledged business plan is what we are talking about in this article.You need to show which channels have the lowest customer acquisition cost, amount of customers and product perferences of customers.Generally, you can advertize your product via these advertising channels: Furthermore, your business plan should state whether you already have some signed marketing or sales partnerships. When you have developed a specific product and you can piggy back on a larger distributor to sell your product to thousands of people.