Nothing remarkable happens by chance. It takes a great deal of hard work, efforts and of course, planning. A Start-up is no different. While making a business plan may seem cumbersome and practically an unimportant activity, it is a task that must be undertaken to evaluate oneself and where is one heading.
As you sit down to put on papers the details of your offering and various strategies to make your venture a success, you will realize your strengths and also, your shortcomings. Just by going through this exercise, you will have a roadmap for your future actions and your present propositions.
There’re innumerable tips for creating a business plan. The internet geeks have provided the world with thousands of templates to use and an equal number of references t0 go through. What is important is not to lose your vision in this tunnel and come up with a crisp, yet detailed plan for your business. There’re few things that you can concentrate on so that your b-plan is apt, clear and concise. These are:
- K.I.S.S.– Yes, you read that right. We’re asking you to keep it simple and short. When a potential investor picks up your b-plan, they will NOT have all the time in the world. However harsh this may sound, this is the truth. An investor will only skim through your entire plan, hence, there’s no point in spending precious time and words on a heap of paper. The shorter, yet informative a B-Plan is, the better it is.
- Touch The Essentials: Keeping it simple should not be confused with leaving out the major details. A B-Plan is not complete unless it chalks out the route for a business. Few pointers that cannot be avoided are as follows:
- Business Description
- Details about the Product/Service.
- The Business Model
- The Competitive Environment
- Marketing Strategies.
- Revenue Model
- Leave Your Mark: Let’s face it, this world is full of products or services ready to be served to customers. There’re millions of ideas ready to make people’s life easier. In this age of digital and product explosion, what is most important is to make your offerings stand out. Everyone is bombarded with tonnes of information but their attention span doesn’t exceed seconds. Hence, the biggest challenge is to let people know that your business is unique; that it offers a solution nobody has provided yet or provides it in a manner that nobody has done it yet. Make sure your USP is included and highlighted in your B-Plan.
You can easily learn the technicalities of creating a B-Plan but the nuisances to make an impact are generally overlooked. Your business is in its infant stage and it needs the right approach to be noticed.
Stay Vigil, Stay Aware!