entrep

• Business Plan Outline Creation

  1. Business Idea

  2. Target Market

  3. Competition

  4. Products/Services

  5. Marketing and Promotion

  6. Team

  7. Startup Costs

  8. Funding

  9. Sales Projection

  10. Timeline

  11. Conclusion
• Business Idea


  Briefly describe your business concept or idea, what problem it solves or need it fulfills
• Target Market


  Identify your target audience, explain why your product/service is relevant to them
• Competition


  List key competitors and describe what they offer, highlight how your business is different or better
• Products/Services


  Describe the products or services you plan to offer, including any unique features or benefits
• Marketing and Promotion


  How you plan to promote your business to your target audience, consider basic marketing strategies
• Team


  List the names and roles of people involved, explain how each contributes to the business
• Startup Costs


  Estimate the initial costs needed to start your business
• Funding


  If you need funds, explain how much you need and how you plan to obtain it
• Sales Projection


  Provide a simple estimate of your expected sales over the next year, be realistic
• Timeline


  Create a basic timeline that outlines when you'll start and complete key milestones
• Conclusion


  Sum up why you believe your business will be successful, express your enthusiasm
• Marketing Mix - 7Ps


  A fundamental framework in marketing that businesses use to plan and execute their marketing strategies effectively
• Product


  • Focuses on the physical product or service, includes features, design, quality, branding, packaging, and unique features/benefits
• Place


  • Refers to how the product/service is made available to customers, includes distribution channels, geographic locations, and logistics
• Price


  • Involves determining the amount customers will pay, includes pricing strategies, factors considered, and discounts/terms
• Promotion


  • Encompasses marketing and communication efforts to raise awareness and interest, includes advertising, public relations, sales promotions, social media marketing, and content marketing
• People


  • Refers to individuals who are part of the business and interact with customers, includes their behavior, attitude, and skills
• Packaging


  • Involves the physical presentation of the product, includes packaging design, materials used, labeling, and additional features
• Positioning


  • Refers to the strategy used to create a unique and favorable image or perception of the product/service in the minds of consumers, includes creating a unique image, highlighting unique selling points, and building brand identity
• Product


  Aspect that focuses on the physical product or service that a business offers to its customers. Includes product features, design, quality, branding, packaging, and any additional features or benefits that make the product or service unique.
• Product aspects


  • Product features
  • Design
  • Quality
  • Branding
  • Packaging
• Product features


  The specific characteristics and functionalities of the product or service that meet customer needs
• Design


  The aesthetics and layout of the product, which can influence its appeal and user experience
• Quality


  The level of excellence or reliability associated with the product, ensuring it meets or exceeds customer expectations
• Branding


  The development and management of a brand identity that distinguishes the product from competitors and creates a lasting impression
• Packaging


  The physical presentation of the product, encompassing design, materials, labeling, and any additional features that enhance the product's visual appeal and functionality
• Place


  How the product or service is made available to customers. Involves decisions about distribution channels, geographic locations of stores or outlets, and the logistics of getting the product to the customer
• Place aspects


  • Distribution channels
  • Geographic locations
  • Logistics
• Distribution channels


  Decisions about how the product or service reaches customers, which can include direct sales, retailers, wholesalers, online platforms, or a combination of these
• Geographic locations


  Determining where stores or outlets should be located to ensure accessibility to the target market. This may involve local, regional, national, or international considerations
• Logistics


  Managing the supply chain, inventory, transportation, and delivery processes to ensure products are available to customers when and where they need them
• Price


  Determining the amount of money customers will pay for the product or service. Includes setting pricing strategies and considering factors like discounts, payment terms, and bundling
• Pricing strategies


  • Cost-based pricing
  • Value-based pricing
  • Competitive pricing
  • Premium pricing
• Factors considered in pricing


  Market demand, competition, production costs, and desired profit margins
• Discounts and terms


  Offering discounts, promotions, payment terms, and bundling options to influence customer purchasing decisions and behavior
• Promotion


  Marketing and communication efforts aimed at raising awareness and interest in the product or service. Includes advertising, public relations, sales promotions, social media marketing, and content marketing
• Promotion aspects


  • Advertising
  • Public relations
  • Sales promotions
  • Social media marketing
  • Content marketing
• People


  Individuals who are part of the business and interact with customers, such as employees, customer service representatives, and salespeople. Their behavior, attitude, and skills can impact the customer experience
• People aspects


  • Behavior
  • Attitude
  • Skills