I want to become rich : My business plan
You have your business concept, you are lack finance, you have to write a business plan.
This document is essential to convince bankers, future partners and other investors. It presents your project in every detail, and above all it permits you to draw a better strategy, build your team and better handle logistics.
The business plan usually includes 2 steps: a textual part and an encrypted part, the one that scares and urge one to give up. Keep calm, a financial analysts will handle that.
Your main concern is the textual part; for that you should be able to answer the following 6 questions:
What main problem to you want to handle? How does it help ?
What do you intend to do concretely? What do you propose as solution? What is your product ?
What are your advantages over competition ?
What is your business model, how do you intend to make money with your product ?
Who are your collaborators? Why are them?
Who are you? Do you any experience in business management? Do you have facilitators? Are you encouraged by your love ones ?
GOOD TO KNOW
- B2 B : business to business or business marketing for professionals
- B2C: business to consumers, for consumers and individuals
- Business model : This is the economic model presenting the way the company generates its profit, the means used.
- Market study : This helps to analyse, evaluate and understand exchanges that take place in a specific market.
Once you have answers to these questions, you can make a resume of your business in one page.
Point out without any hesitation: the size of your market (local, national, global), whether your,business is B to B or B to C, the number of customers you expect to attract, who are your competitors(direct and indirect), who will be your suppliers and what will be the prices.
With these information, the financial analyst will quantify each actions to be implemented and will provide you: updated results, expected results over 3 years. Everything put together you will have a perfect idea on the financial requirements, know how to present it to the Bank to become rich!
More grease to your elbow, you can make it!!!!!!