Business Plan (Krianne)

• Business Plan - is a strategic document that outlines a company's goals, strategies for achieving for and the time frame for their achievement.
• Draft an executive summary - is one of the most crucial sections of your plan—it’s also the last section you should write.  
• Draft an executive summary - is one of the most crucial sections of your plan—it’s also the last section you should write.  
• Brand values - think about all the people your company is accountable to, including owners, employees, suppliers, customers, and investors. 
• Goals - SMART goals: specific, measurable, attainable, realistic, and time-bound.
• Mission statements - your statement should explain, in a convincing manner, why your business exists, and should be no longer than a single sentence.
• Vision statement -  What impact do you envision your business having on the world once you’ve achieved your vision?
• Perform a market analysis -choose the right market for your products—one with plenty of customers who understand and need your product—and you’ll have a head start on success. 
• Market analysis - is a key section of your business plan, whether or not you ever intend for anyone else to read it.
• Outline the management and organization -  the section of your business plan should tell readers about who’s running your company. - detail the legal structure of your business. 
• List your products and services -your products or services will feature prominently in most areas of your business plan, but it’s important to provide a section that outlines key details about them for interested readers.
• Perform customer segmentation - your ideal customer, also known as your "target market", is the foundation of your marketing plan, if not your business plan as a whole.  
• Define a marketing plan - your marketing efforts are directly informed by your ideal customer. - your marketing plan should outline your current decisions and your future strategy, with a focus on how your business idea is a fit for that ideal customer. 4 P's: - price - product - promotion - place 
• Provide a logistics and operations plan - are the workflows you’ll implement to make your business idea a reality. Parts of your planned operations, including: - Suppliers - Production - Facilities - Equipment - Shipping and Fulfillment - Inventory 
• Make a financial plan -  no matter how great your idea is, and regardless of the effort, time, and money you invest, a business lives or dies based on its financial health. -at the end of the day, people want to work with a business they expect to be viable for the foreseeable future. Types of financial statements: 1. Income statements 2. Balance Sheets 3. Cashflow statements 
• SWOT stands for

  • Strengths
  • Weaknesses,
  • Opportunities, and
  • Threats,