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Extremely Simple Business Plan with Template

5/20/2016

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Every business needs a business plan.
Think of it as a game of chess - know the rules, the board, your opponent, and play to win.
Strategy and information diagram
It helps you to focus your intentions, teaches you about your market, gives you the confidence to step forward into action.

Many entrepreneurs dread the thought of creating a business plan - so many of the templates & guidelines are complex & convoluted. 

Yes, it can be daunting, but not if you follow this guide. You don't need a 50-page thesis - this guide covers the important aspects simply & effectively. If you have a high level of commitment, you can do this - check your level of commitment here.

Download the template here, and work with me as I guide you with the Actions.

After creating your plan, you'll have the What, When, Where, Who, Why, & How of your business. How soothing is that? This is what you need to progress your business goals with confidence.

Why you really do need a Business Plan

  • As a guide to establish & grow your business
  • To clarify your ideas & direction, and set your goals
  • To share with others for feedback & input
  • To formalise your thoughts & ideas
  • To discover & solve potential problems
  • To serve as tangible proof that you're serious about your business
  • For investors / banks, if you decide to apply for funding.

What is your Product / Service?

  • Retailer who creates value by mediating between the manufacturer & the consumer (buy in bulk, repackage into smaller volumes for sale, market the products, etc.)
  • Information products creator who creates value by providing information & electronic forums for members to explore topics through interaction (eBook sellers, bloggers, membership site owners, etc.)
  • Service provider who creates value by exchanging services for payment (barber, dry cleaner, therapist, coach, etc.)
  • Essentially - what form does the thing take, that you sell?
  • Action: create a description of your product / service in 140 characters or less.

What tools / materials (resources) do you need?

  • Software
  • Hardware
  • Machines
  • Skilled people
  • Action: create a list of what you need.

What partners will you involve, and what will they contribute?

  • Business partner
  • Marketing agency
  • Shipping partner
  • Supplier (services / products)
  • Action: list your partner resources & contributions

Who will support you outside your business?

  • Business Coach
  • Mastermind Group
  • Entrepreneurs Group
  • Accountability Partner/Goup
  • Action: list your support sources.

Who & where are your customers - how will you find them, how many are there?

  • Consumers, or businesses
  • Once-off buyers, or repeat clients
  • Demographics - what age range(s), gender, lifestyles, income group(s), etc.
  • Location - local, regional, national, international, global
  • Special Interest Groups - joggers, card-players, beer-drinkers, science fiction readers
  • Professions - lawyers, doctors, brick-layers, chefs, make-up artists
  • Firmographics - if selling to businesses, the business types, ranges for their headcount, revenue ranges, product or service types
  • How will you reach them - ask for referrals, pay for advertising, website, fliers, engage through public speaking events
  • Action: Create a customer profile for your ideal customer(s), & how you plan to reach them. You may decide on different approaches for the different types or groups.

Who are your competitors, & how big is the market?

  • Find out via Google / trade magazines / subscription sites / forums
  • Government statistical data
  • Research companies
  • Action: list direct & indirect competitors, and note your point of difference - your Unique Selling Proposition (what you will compete on, for example quality, price, location, service, range, value, etc.)

What are your marketing opportunities?

  • Salespeople
  • Sales affiliates
  • Physical store
  • Website
  • Action: list your marketing opportunities.

What is your marketing plan?

  • Price - how will you price your product / service
  • Positioning - how does your product / service fit into the existing market
  • Promotion - what channels will you use to attract & engage with customers
  • Profit - what is your margin
  • Place - what are your outlet(s)
  • Action: List your price, positioning, promotion, profit, and place, with details.

Operations/Execution - who will do what, and when?

  • Who will obtain or produce your product
  • Who will deliver your service
  • Who will invoice & handle payments & returns
  • Who will handle the marketing & advertising
  • Etc.
  • Action: list all the operational activities with details, & assign a person to execute each one.

What is in Your financial plan?

Expenses

  • What is your required start-up capital
  • Will you boot-strap, apply for funding, make a loan, or crowd-fund
  • What is the cost of producing your product or service - materials, labour, time, manufacturing, distribution, shipping, etc.
  • What are your business expenses - overheads, marketing, staff, travel, etc.
  • Action: list your Capital Expenses (start-up costs, as well as once-off purchases of business assets), Fixed Costs (what you have to pay every month, whether you sell 1 or 100 units), and Variable Costs (costs related to each sale). Fixed Costs + Variable Costs = Business Costs.

Income

  • How much do you have to charge to earn a profit (business costs + your time costs = what you need to earn each month)
  • Action: list your Fixed and Variable Costs + your Time costs to show your required income.

Do you know your Risks & Issues?

  • What are the things to look out for
  • What might happen to derail your business plan
  • What may become a problem in future
  • Action: list your Risks and Issues, with notes on how you plan to handle them.

How will you measure your ongoing success?

  • Write down a goal and time-frame, for example, 100 repeat customers in 6 months' time, or $1,200 gross income per month by the end of the year, or 25,000 subscribers in 1 years' time,  or 4 sales per week in 3 months' time, or 1 additional product in your portfolio in 3 month's time.
  • Action: list your conditions for success within a specific time-frame, with some details; continue your forecast to 2 to 3 years.

Still with me? Good - now for your Action Plan!

  • ​​​You now have a robust, executable Business Plan.
  • Look at each section, and identify what actions you have to take to make it happen; for example, if you need product suppliers but don't have any yet, list an action in your Action Plan to "Source Suppliers", or if you want a website but don't have one yet, list "Source a Web Designer", et cetera. You get the idea.
  • Go forth and Execute!
Need help with your Business Plan? I've got you sorted - contact me.
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  • Home
  • Services
    • Business Success Coaching >
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    • Website Design >
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      • Blog Design
      • Website Design Costs
      • Website Design FAQ
  • Business Success Blog
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    • Client References
    • Disclaimer
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