As it is known starting a business requires a mature business plan, you must take the time to collect as much information related to the business as possible later.
Start by recording whatever comes to your mind, then look for information and other data, anything. what to include and what not to include, how to complete and where you can get sources of information to develop a good business plan.
There are seven components in compiling business planning (Business Plan). Wartawirausaha this time will briefly discuss how to make a simple business plan. In the second article, we also include an example of a simple illustration of compiling a Business Plan for a marketplace site.
Here are the important components in preparing a business plan.
1. Business Description Review
Here you must briefly explain what line of business you will run. Write down the potential of your product today and its possibilities in the future. Also, provide information on market opportunities and product developments to survive and adapt to the existing market.
2. Marketing Strategy
The marketing strategy to be implemented must be the result of a market analysis that has been carried out carefully. Market analysis is a power that you must use to create target buyers, you must understand all aspects related to the market so that sales targets can be determined (where your product will be marketed).
3. Competitor Analysis
Use competitor analysis to find out the strengths and weaknesses of your competitors in the same market. After finding its strengths, then look for strategies to market the product in a different way from competitors. You should also look for strategies to deter competitors from entering and copying the same strategies as yours.
You can take advantage of the weaknesses of your competitors that you find to develop better products.
4. Design and Development Plan
Requires a design and development plan to show the stages of product planning, and a development chart in the context of production and sales. This is useful for making a production cost budget plan that suits your needs.
5. Operational and Management Plan
Operational and management plans aim to describe how the business will run and be sustainable. The operational plan will focus on the company’s logistics needs, for example, and the various tasks and responsibilities of the management team. It also covers the assignment procedures between divisions within the company as well as budget and expenditure requirements.
The financing factor is an important element in a business plan. Where does the source of funds come from, and how to manage the budget to be efficient but still be able to operate all divisions within the company so that it runs smoothly.
7. Business Conclusion
The last one compiled is the conclusion of the entire business plan framework. You can display a time schedule for each of the above components that you will do, estimated time, and other important things that will support all activities in starting a business.