It is always good to have goals but it is much more important to materialize them, and it is essential to have a plan. If we want to get somewhere, we have to have a map, and in the case of a company, a business plan will be our map.
In this post, I will show you how to make your business plan within a few minutes.
1. You need a plan for your business.
For several years there has been a discussion about whether to make a business plan or not. The “Gurus” in the matter “Lean” will tell you that no plan of activities holds the first sales meeting, i.e., a business plan is a wet paper.
Without having a written business plan, it’s tough to find an investor. To turn your idea into a successful venture, you should write a program of activities. That can be in a 30-page formal file or can be a 2/3 page brief on your plans.
If you have a written business plan, it will be easier to avoid a lot of mistakes and focus on what is important. Get customers and sell.
To write a perfect plan of activities, I have written a step by step guide for the advanced business person, who already have some idea of starting a business. You can read it here.
2. Your business plan on one sheet.
The key to everything is to have a working guide that sets the way for us to continue in our business but that is not immovable like a rock. The plan of activities has to be totally flexible and has to be able to change as we work to our potential or future clients.
For this, the best option is to create your business model in a single page that you can change, modify or create again quickly.
3. Elements of the business plan or business plan.
A business plan, after all, proposes a business strategy, in this case on a single page. This plan has the function of answering many questions that we can group into the following categories:
1. The problem.
At this point, we must answer the following questions.
- What problem do I solve?
- Whom do I address the problem?
When setting up any business, I always observe the same mistake, which is not having defined the client correctly. You have to know perfectly who your customer is.
2. The solution.
At this point, you have to answer the following questions.
- What solution do I offer to the problem I want to solve?
- How will I generate value, lease income, with the solution I propose to the problem that I want to answer.
3. The problem/solution socket.
Here we must answer the following questions.
- How will you explain clearly and concisely what your company is?
- How are you going to measure that the lace is produced?
The fit is when you actually buy your product or service because it solves a problem.
4. Competitive advantage.
When we have a business or company we are not alone in the market, we have to be able to measure ourselves on the competition and to know where we are. For this, it is vital to ask ourselves the following questions.
- What am I better than the rest?
- What am I worse than the rest?
- Is there any gap in the market that is not covered?
- Can I become strong in it?
To answer all these questions, create the business plan on one sheet.
When it comes to starting a business, we have to be able to generate revenue. It’s the major target of a business to get the most profit. Have a proper plan and ideas to achieve your financial success.
In the business plan that I propose, you will have to answer two questions regarding the income of your business.
- What are you going to sell?
- How much does it cost to produce or manufacture?
It is not a simple question to answer, imagine that you are freelance and that you are going to work from home, what costs do you have? Your time is worth and how you will value it. They are not simple questions to answer, but at least you must focus on what is strictly critical.
5. Define the price.
Even when related to the previous point, when we start we do not know how much we will charge for our products or services.
There are many variables when deciding the price of a product or service. Of course, we must try to collect the maximum for what we do.
When we start, we tend to charge below what competing companies charge. This is entirely feasible because the businesses that are established support a series of infrastructure costs that we do not support at the beginning but that we will have to support if we want to grow and have a business development.
I to decide the price of a new product or service always do the same test. I am going to visit a possible client, I try to sell the product or service and ask the next question.
How much would you pay for this?
Usually, they tell me a much higher price than I would sell it, but it gives me an orientation to set my pricing strategy. If you do, you will have to include it in the business plan that I present to you.
We have arrived, you just have to write a single page business plan (must not be more than three page). Remember that it does not have to be perfect, just draft it and put it into practice. Once this is done, then modify it as you learn from your clients and change it until you having a definitive version on which you are going to develop a more extensive business plan.