What should be in a business plan?

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There is no standard template for a good business plan. Instead, it is meant to be original and fit your business. But, of course, there are components that should be in every good business plan:

1. Your product or service
What exactly are you going to offer and how did you get to this point? Be detailed, but be careful not to get too technical. The story must also remain understandable to someone with less substantive knowledge. For the technical details, you can include a separate section in your business plan.

2. Your distinctiveness
Why would someone choose your product over the competitor's? If you can explain this well, your business probably stands a good chance.

3. Your goals
What do you want to achieve with your business? The answer belarus mobile numbers list to this question shows you what your ambitions are, but also whether you have a realistic view of the market and your place in it. It is useful to set your goals using the SMART method. This way you make them Specific, Measurable, Acceptable, Realistic and Time-bound.

4. Analysis of the market
A good picture of the market is essential. How big is the potential market, both in persons and turnover? What needs are there and how are they being addressed? What competitors are already there and how are they handling business? Therefore, also conduct a competitive analysis

5. The marketing approach
Describe how you plan to reach your target audience using a concrete marketing plan. What online and offline channels will you use, for how long and what will it cost?

6. Financial planning
How much money do you need to start your business? And, just as important: where exactly is all that money going? This is information that an investor is very curious about. Of course, here you also map out what your expectations are about your company's income. So it is important to keep good accounting records.