Write Your Business Plan

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Make sure you describe why your product or service solves the problem in a more effective or efficient way, so you will have a value proposition over competitors.

Your business plan should also specify the customer benefits of your product (making something faster, cheaper, more reliable, more effective, more beautiful).

Why make the effort and writing 30-40 pages when you could focus on product development or sales?

There are several reasons why with some business models you should only write an abbreviated version of a business plan (we will cover this in another post).

If you have any sourcing or production related partnerships, then state them here. You have your product defined and why customers should buy your product.

Now, you need to show which advertising and sales channels you want to use for approaching potential customers.

start with rough marketing assumptions and later distinguish between marketing channels, customer segments, products and regions).

Now, you might need some funding because you are not profitable yet or because you want to finance a larger expansion (more products, more countries).

As a starting point you can use this or that free business plan template.

This means you’ll have to be very specific about your business model, because investors get hundreds of business plans every month, so make sure your business plan stands out from the crowd.

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