How to Write a Business Plan Step by Step

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Just like building a house, organizing a party, traveling to the countryside or to the coast requires careful planning of the business. That is, the house, the party and the trip will not be realized only by the desire, even if it is a good ardoroso. Such ideas are born, however, in order for them to become reality, we must construct them step by step.

For a trip to take place, it is necessary to choose the place to be visited, to decide the time of travel, how much money to take, to buy tickets, to book a hotel, to pack, among many other things. If, for a simple trip, we need to do all this, imagine when we want to start a business. And undertaking is often a journey to an unknown place.

To organize ideas you need to use the business plan. In this trip to the world of entrepreneurs, it will be the route map. The plan will guide you in the search for detailed information about the branch, products and services to be offered, as well as possible customers, competitors, suppliers and, especially, about the strengths and weaknesses of the business, thus contributing to the identification the viability of the idea and in the management of the company.

In the end, the business plan will help you answer the following question: "Is it worth opening, maintaining or expanding the business?" Remember that preparing a business plan is a great challenge as it requires persistence, commitment, research, hard work and lots of creativity.

Determine why you want to write a business plan. What do you want to set about your business? Here are some common goals and objectives for business plans.

  • Evaluate the initial costs of the company.
  • Establish the fundamental viability of a project.
  • Define your products, services and customers and evaluate competitors.
  • Define the business model, goals and strategy used to achieve them.
  • Communicate to others (banks, investors, partners, etc.) the business idea.

Following the template below, start writing, or at least think.

Introduce yourself. Tell the reader who you are, talk about your past, your education, your professional experience, and your successes to this day. #Explain your product or service. What are its advantages for the consumer? Does it have any unique features or facets? How is it produced?

Describe your target audience. Why did you decide to reach this audience?

Describe any sales goal or exceptional advantages you have. Why will your customers pay for your services? Are you offering better values, warranties, superior quality, reduced risk or a better location?

Explain how much your customers will pay for each of the products or services they offer. Describe any cross-selling or aggregate opportunities and how often a customer will buy from you during a typical year. Again, use any market research or other evidence to support your argument.

Explain how many products you can produce or how much service you can offer in a normal year. Support this with any evidence you have.

Examine how much it costs to produce each unit of product. If your business provides services, describe how much it will cost to offer this service. Do not forget the overheads such as electric power or the payment of the front desk staff.

Describe the value of the initial investment needed for the business and where it will be used.

Make a summary. On a single "in the beginning" page, list the main goals of your plan in the form of topics. This is the most important part of your business plan. This list will be the first thing your readers will know about your business plan. It will determine if they will continue to read and ultimately whether they will support your idea or not. Write this summary last but put it in front of the plan.

Good luck, or rather, good work! And be clear that getting started is already half of all the action. Success!