Build Your Kick Butt Business Plan
If you’re a startup or probably beginning to think about starting a business, it is very crucial that you clearly define all the aspect of your company – from your business description, mission and vision, target audience, marketing strategies, financial projections, and the list go on.
Entrepreneurship is so fast-paced and often times, business owners seemed to believe like it is always towards about fast life. However, in reality, it is not just how you move more of speed. It is about enjoying the process of how you start strong, scale and grow. One thing’s for sure though – building the business plan is the solid foundation.
Why not take control of your business success with the help of our Kick Butt Business Plan? In this Digital Gig insight, we’ll help you structure everything together and discuss how and what to include in your new or improved business plan.
Building Blocks Of A Million Dollar Business Plan consists of the following:
This intro page is the showcase front of your business plan. It is the preface about who you are and what you do. You can include high-level information including your company name, business logo, tagline, address, and the founder information.
Make your business cover page stand out with a unique branded cover page. Incorporate your theme, colors, fonts, brand imagery so you can tell a vivid story about your company.
This part of the plan briefly explains the overview of your business – your business idea, what problems are you trying to solve in your niche.
This section explains the basic elements of your business. This includes mission statement (reflecting your values), philosophy and vision. To put it simply, it should answer the question of what your company wants to achieve.
Buyer Persona / Target Audience
In this part, you should be able to identify who your customers are – have audience research regarding demographics, interests, and all other specific characteristics about your potential buyers.
Products and Services Line
This is the core of your business plan, where your unique selling proposition is discussed. You should define what your products or services are, and how are they going to be produced and or provided. Calculate the costs of every product/service offering. You should also include details about your suppliers, vendors, and partners that are essential for the delivery. Determine the pricing strategy – fee, subscription details, and the like. Pay attention to how you will continue to generate revenue over time.
Marketing, Sales and Operations
Create a strong and well-thought sales and marketing plan. You need to determine the tactics you’ll be using to market and sell your product. Have a solid brand positioning in your niche. Research the market and know the barriers to entry. You also need to choose the necessary tools you’ll need for every product or services, who are the person in charge for the initial marketing and sales structure – who will sell, who will market, and how you’ll align everything together to generate profit. If you can make a sales forecast, that would be great! At this point of the plan, you should also know which acquisition channels you’ll be using to find new customers.
Pro tip here – create and build a dynamic and full of the relevant content website for your business so you can have a landing page for your customers to find you.
Determine all the required policies and regulations for your company. For instance, getting a business license, permits, partner and employee visas, etc. Insurance for your business is also discussed over her, and any environmental, health or workplace regulations affecting your business.
Management and Organization
In this section, it should show the people behind your business, the roles and responsibilities, and the prior work experiences. In the future when you’re planning to have investors, know that they will carefully assess whether you have a qualified management team. Additionally, you should plan how to fill any gaps in management’s experiences – for instance, if there’s no one knows the accounting-know-how, will you hire a CFO or an accountant? Have a vision board of the organizational structure.
Startup Expenses and Capitalization
This is the section where you’ll detail the expenses involved in opening your business and how much is the exact capital you will need. This should highlight the startup expenses, opening day balance sheet, personal financial statement of each of the owners. The personal financial statements should detail each person’s assets and liabilities outside of the business and their personal net worth.
This is the most important part of your business plan. There are 3 main things you need to demonstrate in this section – determine how you plan to make money, how much will you need to operate and the financial statements of the business. Firstly, determine your pricing model, how customers will pay you, and what’s the continuity of profits over time. Then, secondly, ask your self how are you going to raise money, and state the money you already have available to you. And lastly, make financial statements – these are profit and loss projection, cash flow, projected balance sheet, breakeven analysis.
Goal & Success Planning
Oftentimes, most entrepreneurs forget this part because they’re focused on the bits and bobs of launching their businesses. Different startups have different plans for growth based on their revenue models. And even so, you need to take a look at the plan that you’ve put together – you should set goals and milestones. You should be able to answer after a year upon your launch, how many sales will you need to make for it to feel like a success? Success is not only defined by sales, but you can also base it on overall reach, revenue, social ROI, etc.
This is where you will put all your contracts, licenses, agreements, resumes of owners, advertising and marketing materials, PR and publicity, blueprints, workflows, tools, case studies. All of the documents that will give a fuller picture of your business and support the projections you make in your business plan. Essentially, this is the backup document and evidence of your entire plan.
Ready to validate that business idea and take your business up the ground? Download our kick-butt business plan template that you can use as a guide.