ideas to numbers .. simple financial projections
This is one of a series of articles on the contents of a simple business plan.
The chosen target market for your business idea will have competition, if there is no competition there is a high possibility that there is no market.
The competition section of the business plan sets out to show who this competition is and why your product is better at satisfying customer benefits and needs.
This is one of a series of articles on the contents of a simple business plan.
The served available market (SAM) discussed in the previous article, is made up from a number of groups of customers with similar characteristics (customer segments). These customer segments form the target market for the business plan.
This is one of a series of articles on the contents of a simple business plan.
To the investor, the customer solution shown in a business plan in itself has no value unless it can be realized in the market place. Ultimately, it will be the industry market size that decides the value of your business to an investor and, as a rule of thumb, the bigger the available market, the better.
This is one of a series of articles on the contents of a simple business plan.
The milestones section of the business plan provides a visual presentation of the timing of significant future events in the development of the business. It shows the investor what steps they can expect to be achieved and when.
This is one of a series of articles on the contents of a simple business plan.
The key metrics section of the business plan is an extension of the traction section, and provides a visual presentation of the key metrics progression over time. It shows the investor that your business idea has acceptance in the market place and momentum.
This is one of a series of articles on the contents of a simple business plan.
The traction section of the business plan explains how well your idea has been accepted by the market place, and in the absence of significant trading activity, explains what developments have taken place so far, to show your idea has momentum.
This is one of a series of articles on the contents of a simple business plan.
The product and technology section is the place where you describe what your product is and the technology behind it. It should also cover the products uses and the current state of its development and readiness for the market.
This is one of a series of articles on the contents of a simple business plan.
The solution section must come after defining the customer problem. A business with a solution looking for a problem to solve will have a difficult sell when trying to present to an investor.
This is one of a series of articles on the contents of a simple business plan. The starting point for any business plan has to be a customer problem (or need) not the product idea. Customers don’t buy a product, they buy a solution to their problem.
Many businesses are based around a product looking for a problem to solve and a market to solve it in. Too much time and effort is spent on the technical details of the product.
This is one of a series of articles on the contents of a simple business plan. The management team is a critical factor when drawing up a business plan proposal for investors. The investors will be much more concerned about the management team than they are about the business idea itself. They know that the manner in which the business plan is put into practice will make the difference between success and failure.
The first section of the business plan is simply a statement of the business name, tagline, and logo.
This is the start of the story, it tells the investor who you are and gives the investor a tagline and logo to get their attention, remember you by, and to help them distinguish your business from the competition.