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Components of a Business Plan

Components of a Business Plan. Target Market, Competitive Analysis, Marketing Plan and Sales Strategy, and operations. Target Market. Customer Profile - Identify your customer (age, interests) - Recognize your customer’s income level Target Market Defined

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Components of a Business Plan

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  1. Components of a Business Plan Target Market, Competitive Analysis, Marketing Plan and Sales Strategy, and operations

  2. Target Market Customer Profile - Identify your customer (age, interests) - Recognize your customer’s income level Target Market Defined - Describes in detail the who you will target with your marketing - Display consideration of ages and the benefits of your target market Target Market Analysis - Provide quantitative data on your market and supporting markets - Provide any weaknesses inherent to your target market

  3. Competitive Analysis Summary - Identify your customer (age, interests) - Recognize your customer’s income level Key Competitors - Describes in detail who your competitors are, including the strengths, weaknesses, price points - Explain how their business and yours are similar and different Indirect Competitors - Describe in detail who your indirect competitors are - Explain how this competitor affects your business

  4. Marketing Plan & Sales Strategy Message • What is your message? How does it associate? • Is there a motto? Message Delivery and Web Process • How will you advertise? • What are your plans for a website? • How will you market over the internet? Special Programs • Will you have customer reward programs? • What sort of promotions will you run? • What type of events will you sponsor? Customer Feedback • How will you solicit customer feedback? • What will you do with that feedback?

  5. Operations Workforce Plan • How many employees will you hire? • What will be their roles and responsibilities? Business Facilities • Will you have a storefront? • How much space will you have? Production Plan / Service Plan • How will you produce your product? • If you are a service, what services will you provide? Daily Operations • What will a typical day look like for all employees? • Are all the employees adequately tasked? Impact of Technology • How will you integrate technology into your operations? • Will training be involved in its use? Inventory • How will you order inventory? • Is there a system in place to track your inventory? Customer Point of View • What limitations do you foresee in operations? • What efforts can be made to try and minimize your weaknesses here?

  6. Questions?

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