A Good Business Plan

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A business plan is a 30-40 pages long description of how you want to build your company.

In the business plan you want to explain what customers you want to target via which marketing channels, what makes you different from competitors, who the management team is, how you are going to make a profit, and what the milestones are for achieving your business plan.

Here you describe how your product or service solves the problem.

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.

When you write your business plan you should focus on quality (facts, crisp, simple English), not quantity.

As a starting point you can use this or that free business plan template.Once you learn what customers really want and how to profit then you increase the detail of your business plan (e.g.start with rough marketing assumptions and later distinguish between marketing channels, customer segments, products and regions).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.We recommend, you ask your friends and family for input on how to improve your business plan.A business plan is a written document that describes your business.It covers objectives, strategies, sales, marketing and financial forecasts.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).For this, you will need to write a very detailed business plan which will be the basis for investors to make their decision to invest in your business or not.This fully fledged business plan is what we are talking about in this article.The external purpose of the business plan is mainly to receive funding (equity or debt), thus the potential addressees of the business plan can be: It is important to frame the information in the business plan to the needs and investment profile of the investors.

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