Building Your Business from the Ground Up: The Essential Elements of a Business Plan

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Course Content

Executive Summary

  • What is a Business Plan?
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  • Why do you need Business Plan ?
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  • Executive Summary
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Defining your Business Model
Business Model A business model (BM) is a broad term outlining everything concerning the main aspects of the business, all of which are contained in the answers to the following questions. What value will we create? How will we deliver it? How will we bring in revenue? How will we earn profit? So, in a nutshell, the BM describes how a business will work from the standpoint of value generation.

Market Analysis
A Market Analysis defines the target market so that you can position your business to get its share of sales. A startup’s success greatly depends on the pre-development, or discovery phase. This is when you gather data from a market analysis and use it to define the product-market fit. The discovery stage helps you eliminate many of the risks related to unexpected expenses, lack of market demand, and other potential issues. A Market Analysis section: –Defines your market. –Segments your customers. –Projects your market share. –Positions your products and services. –Discusses pricing and promotions. –Identifies communication, sales, and distribution channels.

Defining your Product
Even the simplest product has a number of unique potential selling strengths. You should include the following: An explanation of how your product or service works. How your product solves the problem The pricing model for your product or service. The typical customers you serve. Your supply chain and order fulfillment strategy. Your sales strategy. Your distribution strategy. You can also discuss current or pending trademarks and patents associated with your product or service

Go-to-Market Strategy

Operations Plan
The operations section of your business plan is where you explain – in detail – you company's objectives, goals, procedures, and timeline. An operations plan is helpful for investors, but it's also helpful for you and employees because it pushes you to think about tactics and deadlines.

Business Management Plan
A business management plan helps build an efficient team, and formalize business operations. This helps businesses streamline strategies to achieve their goals.

Financial Projections

Conclusion

Further Resources

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