Business Plans Revealed - How to Write Your Plan and Why

Written by Jim Beach


A business plan is your vision of where you want your business to go and how you’re going to get there. It’s a road map and, like a map, it helps to documentrepparttar route on paper, rather than simply commit it to memory. A coherent, written plan is as important to your success as a set of blueprints is to a home developer. Without it, building becomes a chore.

As indispensable as it is, unless you’re using it to secure capital or financing, it needn’t be overly complex and exhausting. So let’s make it easy. We’ll cover some basic guidelines, enough to help you create one you can use.

Here are six sections you should write into your business plan.

COMPANY PROFILE

This isrepparttar 106830 first section you’ll write because it drivesrepparttar 106831 remainder of your plan. What is your company’s mission? What are you trying to do? This section describes why you’re in business. If this section reads "I’m in business to make money", you’re in trouble. Any company can say that. Instead,repparttar 106832 profile section should describe how you’re going to meetrepparttar 106833 needs of businesses or consumers in such a way that you can make money. You make money by

1.meetingrepparttar 106834 needs of customers

2. at a price they’re willing to pay

3. at a cost at which you can make a profit

MARKET ANALYSIS

A critical component, this section should demonstrate your knowledge ofrepparttar 106835 market in general. It involves thinking about what you can do better than others inrepparttar 106836 same business, and honestly acknowledging what can they do better than you. Look at your competitors, compare them with your company. What you’re looking for is what Xerox called a USP, a "Unique Selling Proposition" and what I call a JND, a "Just Noticeable Difference" that makes you unique or different.

How is your industry doing? Is it growing? Shrinking? Are there barriers to entry that will keep others from offeringrepparttar 106837 same product (service)? Arerepparttar 106838 big boys moving into your territory?

Also consider: Is your competition local, regional, national or global?

Consider external factors over which you have little or no control, such asrepparttar 106839 economy or changing laws or regulations.

MARKETING PLAN

This section outlines your sales strategies. You’ve got something to offer. Here you describe how you’re going to let people know about it. Advertising? Press releases? Direct mail? Word of mouth? Flyers? A blimp?

Take whatever is unique about your business (your JND) and make itrepparttar 106840 hero. Use it to develop a positioning statement, such as "I will berepparttar 106841 cheapest source of this product", or "I will add more value torepparttar 106842 customer relationship than my competitors", or "I’ll deliver it faster than my competitors".

NO FREE LUNCH!

Written by Jackie Ulmer


There’s no such thing as a free lunch! This is especially true in Internet Marketing and e-commerce. How many times do you receive blatant SPAM aboutrepparttar latest "Just sign up for FREE, we’ll dorepparttar 106829 rest and you’ll make millions" deal?

Do you really BELIEVE this hype?

I’m guessing (hoping) that you don’t! I’m guessing (hoping) that you can’t hitrepparttar 106830 delete key fast enough!

You just can’t get something for nothing.

I recently read a story that said thatrepparttar 106831 "Success Family has Work asrepparttar 106832 father and Integrity asrepparttar 106833 mother. If you can get along withrepparttar 106834 parents, you won’t have any trouble withrepparttar 106835 rest ofrepparttar 106836 family."

What you do need to know is that you don’t always have to work harder, but you do have to work smarter!

If you want to be successful in Internet Marketing, you must find someone who has already blazedrepparttar 106837 trail and been successful. Study them, learn from them, ask them questions, listen to their answers and model them.

I can guarantee you that every one of them will tell you that they didn’t get a free lunch. They worked hard before they figured out how to work smart.

And, another interesting thing to note is that you won’t hear any of them offering yourepparttar 106838 latest "do nothing and get paid" program. They will each clearly lay out for you what needs to be done in order for you to be successful.

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