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Your Strong 401k Retirement Planning Business Plan

The important things that you need in a strong business plan are set out below.

Executive Summary

  • Briefly define why your business exists in a couple of sentences and without industry jargon.

  • Spell out your current state of affairs and detail how you will get from where you are currently, to where you expect to get.

  • Spell out what the essential success factors will be and explain why you have selected these.

  • Clarify your current financial situation and how much money will be needed for the company.

  • Outline the clear objectives that your business will have and why they have been selected.

  • Establish an unambiguous, eye-catching, vision statement for your business.

  • Spell out the milestones and timetable showing how you will use your business plan.

Market Analysis

You need to zero in on the relevant market research to give you market size, sector direction and expected growth estimates. Try not to use a lot of nationwide and global statistics for a small or local business; unless you are opening an international or nationwide business, you should have a local focus to any market research.

  • Supply analysis about the market sector.

  • Explain the predicted shifts for the market your business is in and how your venture is ready for them.

  • Describe your companies USP and the benefits that you will provide your potential purchasers.

  • Outline your target market and go into detail about the features of your optimal buyer.

  • Describe the needs your potential buyers have and how you will meet them.

  • Create a list of your immediate competitors and summarize analyze their strong points; do not be unduly negative about them, be fair.

Products and Services

You must:

  • Honestly break down your products and where they are different from others being sold.

  • Define how you will promote your merchandise to increase consumer recognition.

  • Evaluate how your products will be seen in the market; do they fix problems, present benefits, are they essential goods or maybe they improve a companies or an individuals image?

Any advertisements, company literature, press releases and features that you have, should be included in the business plan. This is fairly significant as it will help interested parties better understand the merchandise that your venture supplies and how they will flourish in the particular niche that your business will be operating in.

Statements such as "we can offer reduced prices with first-rate customer service" are in every business plan and you need to try to think of more appropriate wording that better portrays the way your company will operate. Interesting stories about you, your business, and your staff, with details of things you have done, will show how you will make your organization a success.

Marketing and Sales

  • The marketing strategy should concentrate on ensuring you utilize your limited resources in the best way possible.

  • Your sales approach must be a touch more than cold calling on the phone or expecting potential customers will simply rush to buy.

  • You must establish a persuasive advertising campaign to communicate your sales message, increase leads and set up a great brand.

  • Set out your promotional activities, and how they are planned to extend your customer base and create new opportunities for your business.

  • Demonstrate how you will construct an entertaining story to get free publicity to promote your business.

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