Keep in mind that this is the main step of your plan. Because this is where you will indicate the demand for the product or service you want to offer. An analysis that will help you know and better understand the market in which you will operate. Remember, a niche market is a group of customers with common characteristics. From the Knowledge Business Blueprint Review , you can have the best options now.
This step is focused on knowing who the customers, competitors and suppliers are, and detailing which services and products will be offered. And in order for you to be able to efficiently meet your demand, you need to answer the following questions:
- What are you buying?
- Why are you shopping?
- What are your buying habits?
- What is your income?
- What is the cultural level?
- Where do you live?
- What is lifestyle?
Answering these questions properly will help you have an edge over your competitors. You will be able to better identify which distribution channels, actions, communication plans and pricing policy.
In addition, you need to analyze your competitors according to their market positioning. Research which products they sell, their specifications, benefits, pricing policy and how they sell. Find out why customers buy or stop buying from them.
Complete this step by informing about your business suppliers, seeking information about them and their reputation in the marketplace. Always have an updated register with prices, payment terms and delivery times of each of them.
This is where you will present how the company will offer its products and services. You must create a complete description of these, as well as their quality and usefulness. Just differentiate yourself from your competitors. Detail all forms of disclosure of the company.
Your marketing plan should include the key products and services that will be developed by your business, promotions that will be held, and the location where your business will be installed.
The operational plan will define how the company will develop or market its products and services. List the equipment that will be used, the number of people and the time that will be required for each step. Show what your business will look like, from layout to people management.
What is the viability of your future business? This step will help you determine the total amount of resources to invest so you can start your business.
It is the result, in numbers, of your business plan. If you find that the business is viable, and then defines how the investment will be deployed. The initial investment should take into consideration the following points: fixed investments; pre-operating investments; working capital; and income statement.
The financial plan also allows you to calculate the breakeven point, which is the minimum revenue for the company not to suffer losses. It allows you to know the payback period of the investment, i.e. the time required for the company to recover the amount invested. It will also allow knowing the profitability of the company.
These are the matters that you will always have to keep in mind keeping in view the need of the hour. The choices are specific in this matter.