Entrepreneurship: Starting a Business || Creating a Business Plan

Creating a Business Plan

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A business plan is very necessary because it outlines your goals , financial, projections , and strategies . A good business plan should include the following.

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Executive Summary –

This contains a brief overview of your business.
Business Model –
The mode at which your business will generate revenue should be included here.

Target Market –

Who are your target audience , and how you intend on reaching them.

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Competitive Analysis –

Your competitors are accessed here , and then how will you be unique among them.

Marketing Strategy –

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How can you attract your potential customers and retain them.

Financial Plan –

What is your budget , how do you intend to be funded and what is your projection for revenue.

The importance of a well written business plan is that it helps you to secure investors , loans , and guiding your business to growth.

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