Simplicity is the greatest sophistication. If clarification or details is required, it will be requested. Land the hooks and fundamentals first. Use infographics instead of words if you have to.Lynette Ntuli
Gone are the days where you have to write 21+ pages of a business plan. Truth be told business plans are quite boring and it estimated that the attention span of healthy adult ranges from 10 to 20 minutes.
It is a fact that those lengthy business plan are no longer appealing whatsoever, you don’t even need 15 pages anymore unless you are applying for some sort of funding.
I am giving this advice to you as a Business student, Entrepreneur as well as an experienced business plan writer who was informed that this is no longer a way of writing a business plan and that was in 2016.
Business Plan Importance
Business plans are essential for any business as they are a road map of a business, they give a clear view or direction of to where the business is heading.
But I do remember giving some advice of that “one should only do a business plan once the business is up and running on my youtube channel.
It was the worst advice trust be told but it was coming from a place where I would find myself way to focused on writing a business plan and when its time that I have to put that writing into paper all my energy would be drained and that writing wouldn’t translate to action.
That is why I am saying business plans are boring. therefore my conclusion is that, if you can explain your business to a 5 year old and they get it, that is what you should write down as your business plan.
EASY STEP TO CONSIDER WHEN WRITING A BUSINESS PLAN… (briefly sum these point)
What problems are people facing? List their top 3 frustration.
How are these problems solved today? this can be a direct competitor to what you are offering or the existing ways people are implementing to address their problems.
How will you solve these problems? write down a solution for each.
How will you measure the success of your product or service? list the key metrics.
UNIQUE VALUE PROPOSITION
How will you turn an unaware visitor into an interested customer? create a clear compelling message that you want to send across.
HIGH LEVEL CONCEPT
How does your product or services fit into the grand scheme of things?
What separates you from competitors? what makes you ahead of the pack?
How will you reach your target consumers? Direct marketing, social media, ads, partnership. Identify an effective way to reach them.
What are the fixed and variable costs to launch your product or services? consider the cost at each stage from setting up a website, hiring employees, production, marketing and bringing them to consumers.
What money sources will grow your money? how will you generate income? show a pricing model of your product or service and include other sources such as sale and subscription fees.
You can now download these summarised points mentioned above by clicking on the file below.
Check out the info graphic below
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