Creating a Business Plan
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A business plan is very necessary because it outlines your goals , financial, projections , and strategies . A good business plan should include the following.
- Executive Summary –
This contains a brief overview of your business.
Business Model –
The mode at which your business will generate revenue should be included here.
- Target Market –
Who are your target audience , and how you intend on reaching them.
- Competitive Analysis –
Your competitors are accessed here , and then how will you be unique among them.
- Marketing Strategy –
How can you attract your potential customers and retain them.
- Financial Plan –
What is your budget , how do you intend to be funded and what is your projection for revenue.
The importance of a well written business plan is that it helps you to secure investors , loans , and guiding your business to growth.