This business plan outlines the key elements needed to start a new business. It includes an executive summary, company overview with mission and goals, description of management team's experience, details on products/services and target market. It also provides a market analysis, pricing strategy analysis compared to competitors, and marketing plan identifying the best channels to reach customers cost effectively. The plan sets milestones and goals for the company. It analyzes risks, provides contingency measures, and estimates important assumptions like cost structure and breakeven point.
1. Business plan
i. Executive summary
A. Business overview
ii. Company
A. Mission and vision:
B. Goals and Objectives:
The objectives and goals to achieve in the upcoming year.
C. Management team
Demonstrate the team’s strong experience and the skills to run
this business.
Address the team skill gaps if any, and mitigate them here.
iii. Product and service
Precise discerption of the product or service, the targeting clients, and
the targeting channel.
iv. Market analysis
This part is a summary of the market analysis
v. Strategy
A. Pricing
Justify the pricing strategy (cost plus pricing, benefit driven
pricing)
Compare it to the competitors pricing
Show that it is profitable at that level
Explain the rationale behind the price
B. Marketing Plan
This is the first section into the implementation and execution
strategy of the business plan
Identify the best channels (ways e.g. lower prices or
subcontractor) and (networkcommunication) to use to
target the clients.
listing all the different options and then start diving into the
ones picked and explain why they are the most relevant in
terms of:
o Reach: will it be able to touch most of your
potential customers through that channel?
o Cost: will it be cost effective?
o Competition: stand a better chance against your
competitors by using this channel?
o Implementation: who is going to be responsible for
that? What makes him relevant? Which partners /
suppliers have you approached so far?
C. Milestones
This section is to set the goals for the company. This is a
commitment and it will be judged on the company’s ability to
achieve these goals.
Ability to identify and focus on the key objectives (relevant,
measurable, achievable)
2. D. Risks
This section has one key objective: anticipate any objection or
doubt on the business.
Know the key risk.
Have a contingency measure in place.
E. Important Assumptions and Estimations
This part is all about analyzing the operational risk of the
business. Cost structure
Breakeven point