So, you’ve decided to embark on the exciting journey of building your own business. You've had an amazing business idea and are ready to take the jump, while earning a living doing what you love. That's fantastic!
Your business plan is the tool you’ll use to convince people that working with you or for you, becoming a new business partner — or investing in your company, is awesome!
But how do you make it a reality? How do you get started?
One super easy way to is to start with FREE resources. How does it work? Click & Grab a set of pre-made templates, where you just need to FILL THE BLANKS either yourself or Book a FREE Consultation session, to walk you through the "how" and help you.
The Free Starter Pack includes an easy to follow Business Plan template. Check it out for already created templates. No need to re-invent the wheel!
Why Create a Business Plan?
Why is Everyone buzzing about Business Plans and Pitch Decks NOW? Is it the new idea and the super exciting business you want to jump into, or are you looking to apply, compete and shark tank your business into one of the so many events around town?
If you are just starting in the entrepreneurial journey, you business plan will help you run your business. It will allow you to be prepared, to strategize, to forecast and get Clarity. It is a smart choice to get started!
If you have started your business and are looking to "test the market", you can use your Business Plan to present your business idea, business model and projections to various stakeholders and potential investors, to engage, promote and also to collect feedback.
Some entrepreneurs believe they are ready and want to start engaging with VCs, angels and various investors, to get funded. While this is a journey on its' own, entrepreneurs need to understand the investor perspective. Investors want to feel confident they will see a return on their investment. A well drafted Business Plan must address the risks investors will take by engaging with your venture.
What Should my Business Plan Include?
A basic business plan guides you through each stage of starting, managing and growing your business. You will use it as a roadmap for how to structure, run, and elevate your new business.
If you are just starting, keep it simple!
Your business plan can present your way to think through the key elements of your business, how to be aligned with your stakeholders, and continue to be focused on your vision and mission at all time. Some key elements to include in your plan:
Funding request, if raising funds is the purpose of your business plan
Company description, including your "WHY"
Market analysis to demonstrate that the market needs your product
Organization and management, including CVs of key participants
Service or product line and how it is expected to fit in the market
Marketing and sales strategy, including go to market
Financial projections — keep it simple at first
Include your plan for growth
Appendix: use your appendix to provide supporting documents to include product pictures, letters of reference, licenses, permits, patents and other elements depending on your audience
After finalizing your first draft, make sure to answer this question: is your Business Plan articulated to get the buy-in from your target stakeholders?
Pick a Business Plan Format that Works for You
There’s no right or wrong way to write a business plan but you must ensure you write for the right audience. Initially, keep it simple, keep it short.
If you are looking to raise funds, you need to go ALL OUT, provide details that will give your investors comfort around your business. What’s important is that your plan meets the needs of you audience.
Do You Have Clarity & Full Belief in your Business?
While you may not have full clarity initially, it will grow. The important thing is to figure out your unique talents and the services or products you can offer that set you apart from the competition, to give you the edge in the market.
Use your business plan as your roadmap for your business but expect setbacks, as they are inevitable when you're building something new. Embrace them as a necessary step toward success. Each failure provides an opportunity to learn and grow.
Don't Walk Alone! Find and Connect with Your Tribe
One key ingredient of success in your business is to make connections with other entrepreneurs, attend industry events, and stay up-to-date with the latest trends. Networking can lead to valuable opportunities and collaborations that may drive your business to the next stage.
Don't be afraid to push yourself beyond your comfort zone. It may be intimidating initially, but taking risks can lead to incredible rewards and growth for your business.
Take the Next Step: Book a Free Demo!
Ready to take the next step in your business journey? Our team is here to help you get started. Book a free demo with our experts to explore how we can support your vision and set you up for success. Discover tailored solutions and personalized strategies that will give you a head start. Don't wait—reach out today and let's turn your dreams into reality!
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