Important Parts Of A Business Plan

Important Parts Of A Business Plan-48
A quick explanation of the one or two key problems and/or trends your product/service addresses, and how it translates to a big opportunity for your company (and investors).Highlight a few of the biggest accomplishments that you have achieved and describe how those accomplishments lay the groundwork for what’s to come.Before your readers will ever bother caring about things like your marketing strategy or your financial assumptions, they’ll want to know two absolutely fundamental details that will set up the rest of the plan that follows: You might have the most revolutionary product the world has ever seen, but if you don’t take the time to carefully articulate why your product exists in the first place and how it helps your customers solve a pain point better than anything else out there, nothing else in your business plan really matters from the reader’s perspective.

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Are there any specific brands or products you can point to that illustrate the demand for products/services like (but not too like) yours?

Are there any examples of similar companies that investors have supported that you could point to?

How do other solutions in the market fail to alleviate that problem, thus creating a major need for my product?

Once you’ve thoroughly explained the problem you’re setting out to solve, it’s time to tell investors how your product/service solves that problem beautifully.

Are there any recent acquisitions (examples of larger companies buying up companies similar to yours) that could bolster the case for your own exit strategy?

Are there any similar companies that have recently IPO’d (gone public)? Let’s say you were building a subscription box service for pet flea treatment.

Remember, you’re not giving away every last little detail about your company and business opportunity right up front.

Just enough of the “good parts” to both inform and intrigue your reader to dig in further.

your new product delivers crazy value to your customers by breaking down the ways that it benefits your customers and meets a highly specific need for them. In your Company Synopsis section, you’d probably spend your time talking about how your solution conveniently spares pet owners the hassle of remembering to make a vet appointment, traveling to the clinic, and waiting to talk with the vet just to pick up Scrambles’ medication.

Now it’s time to use your Product or How it Works section to get into the finer details around the mechanics of how it does so. In your How it Works section, on the other hand, you’d shift your focus to describing how your customers have the ability to choose from a variety of brand name medications, set their own delivery schedule, enjoy 2-day delivery, and gain real-time support 24/7 from a team of industry experts.

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