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Building Your Business Plan
A "traditional" business plan contains a lot of redundant parts that for most entrepreneurs starting out will not work, its best to start out simpler and work from there.We recommend a process called "lean planning" when writing your business plan, each section can later be expanded to create a more detailed, traditional business plan if required.
We use the following components (and questions) to make up a lean business plan. We feel this format is better suited for the South African small business environment. (However you can use any business plan format you want in our framework to get help).
1. Value Proposition
A one-sentence description about your business.
2. Market Need
The “problem” your product is responding to by being in the market.
3. Your Solution
A description of your products/services (you can add photos if you want).
Who else in the market is doing similar things and why your products are better?
5. Target Market
Who buys your products / services (or will buy your products/services)?
6. Financials: Budgeting & Forecasting
How much does it cost you to produce one of your products? How much do your products cost, how many of them will you sell this year, and how will I make a profit?
7. Operations & Management
The resources and people you have, need and want to start and run your business.
8. Sales Channels & Marketing Activities
How do (or will) you market your products?
9. Funding Needs & Use of Funds
How much money you need to launch or grow your business, and what specifically will you use the funds for in your business?
Framework + Business Plan
This is how this business plan format fits into our community framework (these are the sections you have to post in). We have kept the same numbering convention as above:
A. Starting a business
- Business Idea Generation
-- 1. Value Proposition
- Help with Business Idea
-- 2. Market Need
B. Running a business
- Business Model
-- 3. Your Solution
- Business Strategy
-- 4. Competition
-- 5. Target Market
- Business Management
-- 6. Financials: Budgeting & Forecasting
-- 7. Operations & Management
C. Growing a business
- Sales Channels
- Advertising, Sales & Marketing
-- 8. Sales Channels & Marketing Activities
D. Funding & Finance
- Use of funds
-- 9. Funding Needs & Use of Funds