Business Plan 101
Creating your company will require a business plan. This plan will list
every possible detail you can think about that is relevant for your company
to become a success.
It will be read not only by yourself or your wife but by the investors
that you will ask to join the company or the banks you will ask money from.
It will also be useful in the future when you are so overwhelmed with work
and help to put you back on the right track.
A business plan explains why your company is in business. It will go from an
executive summary that will in two sentences describe your business to how
many of your products you plan to sell in 5 years.
It is a living document that you will update on a regular base according to
your experience and the development of your company. This should be done
once or twice a year. Even more if you are just starting.
To start a business plan, the best way is to
create a business model for your company.
This business model will help you to get the overview before starting to dig
into the sordid little details that only your accountant will be interested
in (;-).
Everything box in the business model should then be described in more
details in the business plan.
So follow the links here under and
start your business model and use our free business model canvas template for excel. Good luck. It is also called a businee plan template.
To help you further in the development of your business plan, you need to
make a fair and honest analysis of your Strength and Weaknesses as well as
the Opportunities and Threats that you will be facing. For this you will use
the so called SWOT
matrix that does exactly this. It is a listing of your Strength,
Weakness, Threath and Opportunities related to your product business plan.
A SWOT Matrix (strengths, weaknesses, opportunities, threats) is also used to define the strategy of your company when used
in conjunction with the business model. The SWOT matrix can also be used for
personal development, for example to compare yourself to other for a certain
situation.
For this purpose we have created this
SWOT matrix Template.
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