Every battle is won by making plans and strategies. Even if you take the business in place of battle, without proper plan or strategies, you are not going enough ahead. Before getting into the actual business plan, a sample of the business plan is a great way to judge your business.
Let’s make a sample business plan for your business on your own with these few points to give it a base. It is the best way to know where your business is going.
The executive summary is the essential section in the entire sample of a business plan. It is the introduction, or you can say an overview, to grab readers’ attention. The executive part will guide the readers through the main business plan. The things that the executive summary includes are
- History of the company and their leadership
- Overview of competitive advantage
- Company goals
- Mission Statement
- Financial projections
This is the part where you will detail the opportunity in the market. To get through the understanding of the market opportunity, you have to conduct a SOM, SAM & TAM analysis. Performing market research on your industry is the best way to do so. This market opportunity section will involve
- Potential and current market share
- The size of the market
- Consumer behavior
- Trends in the industry
- Where is the gap
- What causes the gap
One section should be where you share all the details of who the two competitors are. This is because your customers have more than just one provider of a certain product. To understand why they should choose you over others, studying your competitors is important. While analyzing this, you will know about
- Industry trends that competitors are not taking advantage of
- Strengths of your competitors that may become your obstacles
- Weaknesses of your competitors that will help you form your selling points
- The unique proposition of the competitors
The section of the target audience will describe who your segments are in-depth. There are consumers in the market but without knowing who your real customers are, how will you target them? Ask yourself and make points on
- What are the demographics of the products and services people are most likely to buy?
- What are psychographics people like, desire, and trigger?
- Are you offering any value to your consumers?
- How are your values helping them?
Following proper marketing strategies is what should not be missed from your sample of business plans. For market strategies, including information on
- Brand positioning vision
- Targeted goals you aim to achieve
- Channels and distribution tactics you will use
- Metrics you are going to regularly use to measure success
These are just a few points that are included in a sample of a business plan. For a more detailed sample of a business plan, you should consult a professional business strategist.