Though there are not some hard and fast rules for writing a business plan as any entrepreneur is not directed to get bound with a set of particular norms and requirements in accordance with format/length etc. but there are some set of queries which a business plan has to answer. Lets see the set of 6 questions your business plan must answer:
1. Your business/industry is heading towards?
In simple words you are supposed to tell that what needs your business is going to cater? Your products and services are for whom?2. How will you stand out?
Do some research and look around what your competitors are doing, trace out their weak areas and pin point their strong points. Then ponder what measures you need to take to stand out. Work on it well.3. Who are your addressees?
You need to choose your addressee and focus on that keeping in mind the factors of age, sex, marital status etc. so go for some introductory market research and then put your best foot forward.4. How your business will generate money?
Horse sense replies that by selling your services and products you will make money. But the point is where, how and how much you are going to sell. For running your business what expenses you are going to bear and will the amount you sell be able to exceed the amount you owe?5. How will you uphold and stimulate your business?
It is indeed a vital aspect of your business that how you will promote it. Your marketing strategy plays an important role in this connection. Are your marketing strategy is based on the conventional advertising or you will opt for online marketing?6. How are you going to get started?
Here you will cogitate on the following queries:• Advanced equipment is needed?
• Whom you are going and required to hire?
• How much fund will you need for a preliminary run? Edit Post
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Business