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Your Strong Candleholder Sets Business Plan

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

Executive Summary

  • explain why your business exists as simply as you can using plain and easy-to-understand language.

  • Spell out your current circumstances and explain how you will go from where you are presently, to where you hope to be.

  • Set out what the key success factors are and the reasons you have decided upon these.

  • Clarify your financial position and the amount of funding that will be needed for your business to start trading.

  • Describe the clear objectives that your company has and why they were selected.

  • Produce an unambiguous, strong, vision statement for the company.

  • Catalog the milestones and timetable showing how the business plan will be used.

Market Analysis

You should search out suitable market research to supply you with market size, industry direction and growth projections. Avoid employing a lot of national and worldwide data for a home or provincial business; except that you are opening an international or nationwide company, you must have a local focus to any analysis.

  • Set out facts for the current sector.

  • Outline the likely changes for the market your organization is in and how your business has prepared for them.

  • Explain your USP and the benefits that you aim to provide your potential customers.

  • Set out your target market and spell out the features of your businesses model purchaser.

  • Talk about the demands your probable clients have and how your products will meet them.

  • Write down a list of your direct competitors and analyze their strengths; do not be too negative about them, be fair.

Products and Services

You must:

  • Clearly explain your products and services and how they differ from others being sold.

  • Explain how you will market your products and services to boost buyer perception.

  • Assess how your goods and services will be viewed in the market; do they fix problems, provide benefits, are they basic goods or maybe they improve a businesses or an individuals image?

Any brochures, company reports, press releases and articles that you have, must be included in the business plan. This is quite important as it will help potential backers better understand the merchandise that your venture offers and how they will be successful in the niche that you will be selling in.

Assertions such as "we will sell at the lowest prices with the finest customer service" are cliched and you must try to come up with different language that better explains the way your organization will operate. Interesting stories about you and your staff, with details of things you have accomplished, will demonstrate how you will make your organization prosperous.

Marketing and Sales

  • The marketing strategy must concentrate on ensuring you utilize your limited resources in the best way that you can.

  • The sales techniques need to be a touch more than cold calling on the phone or expecting potential buyers will simply rush to buy.

  • You should build up a compelling advertising campaign to deliver your sales message, create leads and produce a strong brand.

  • Detail your promotional activities, and how they will broaden your customer base and create new opportunities for your company.

  • Detail how you will build an engaging story to get free publicity to advertise your business.

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