If you want to start your company, writing a business plan is a necessity. If you start from a UWV situation, a well-substantiated business plan is (rightly) mandatory.
But how do you write a good business?
Writing a business plan starts with your product.
It may be an open door, but it is the most important part. Don’t take this lightly. 95% of start-ups fail because they sell “something” no one wants or knows they need.
Think about the last purchase you made yourself. Was it completely clear what it was, what you wanted with it, and… why you wanted it (and yes, they also have a good reason)?
Translate this into your product or service. Why do people want to buy that from you? Which people are they (the target group), and do they understand that you have the solution? Just say an irresistible offer. Do you doubt that?
Describe the market in your business plan
You will be asked to describe your market in your business plan. For this, you need to collect information. The paragraphs below give you some tips.
Determining the target group is often easy if you know what you will sell (product or service). These are the people who are eager for your service or product. Describe these people as accurately as possible:
- Are they male, female, old, or young, or does it not matter?
- What need or problem do they have that you can solve? What does their life look like before the solution?
- And what does their life look like after buying the solution from you? Are they more beautiful, happier, more satisfied or, for example, do they lose less money or time? Also, consider social status and attractiveness.
Where will you offer your product or service to the whole world, in the united states or within a radius of 20 km around your place of residence?
If you know to whom you will offer your product or service and in which area, you can also calculate the size of your target group. Your target audience is your potential customers. What do you mean you? Well, from you and your competitors. Think of the target group as a cake. The piece of pie you can get your hands on is the market share. The more competitors, the smaller your potential piece of the pie. The size of the pie and the number of competitors obviously play a role. Competitors are companies that offer the same product or service to the same target group or a product or service that offers the same solution.
The future of your product or service
What do you expect to happen in the (near) future? Will the market grow or shrink, or… will the problem you solve itself in the future?
Describe the market in your business plan
The market is literally: where supply and demand come together and lend themselves very well to a simplified example. Suppose you sell vegetables: you buy food on the market. There are several suppliers of fruit and vegetables (direct competitors), fish, meat, and vegetarian products (complementary goods which complement your product into a complete meal). Some stalls offer ready-made meals and even a fries stall (indirect competitors). They don’tdon’t offer fruit and vegetables, but they do offer a meal without effort).
So if you are asked to describe the market, describe what it looks like to you.
The SWOT analysis in your business plan.
SWOT stands for Strengths, Weaknesses, Opportunities, and Threats. The S and the W are internal: what are you or your company good at and less good at?
The O and the T are outside your company. What opportunities will arise in the market, but what threats do you see?
The conclusion should be: with which of your strengths are you able to seize the opportunities in the market, how are you going to face the threats… and how are you going to work on the weaknesses in your company? Do you find this difficult, or do you want to know more?
The marketing in your business plan
Marketing is how you will offer your product or service to the market. This is prominent in the writing of your business plan.
The 4, 5, or even 6 P’sP’s are often used for this.
- Product/service (see product/service at the very top)
- What price will you ask for your product/service, and is that more, less, or the same as your competitors?
- Location (see geography and market)
- Promotion: How will you let people know what you are selling?
- Personnel/collaboration. Are you going to hire people, or are you going to enter into partnerships with providers of complementary goods, for example) and how will that contribute to the marketability of your product/service?
You can tell a lot about advertising. In any case, when does advertising not work: when you sell something that someone does not want? Yes, some very clever sellers can sell you something that you didn’t want afterward.
The art is, therefore, to make it clear to the right people (your target group) that you solve their problem. How you do that depends on your target audience.
As a baker, if you focus on the people in the neighborhood, you advertise on the sidewalk in front of and on the facade of your company, distribute leaflets door-to-door, or introduce yourself to a delicious biscuit. As a result, your craftsmanship tastes better than that in the supermarket…
TIP: Here, you can see a Bakery Business Plan Sample to get more ideas.
If you have a webshop, you will attract customers via the internet. First, on the findability of your product on the internet through SEO, you work on your brand awareness through, for example, Facebook advertisements. Then, you distinguish yourself by your product (something no one else has), your price, delivery time, or something special: for example, ecological, etc.
As a service provider, you are found by (online) advertising and writing blogs about topics that interest your target group. Being a member of a business club can often result in good relationships.
If you want to read more handy blogs, visit this link.