Blanch Mya August 2, 2021 Business Plan
Defining the problem you are solving for your customers is by far the most critical element of your business plan and crucial for your business success. If you can`t pinpoint a problem that your potential customers have, then you might not have a viable business concept.
Writing a business plan is about establishing a foundation for your business. You`re not predicting the future, you`re working through the core strategy of your business that will help you grow. This initial document isn`t meant to be perfect but is designed to be reviewed and adjusted to help you identify and reach your goals.
All business plans should establish strategy, tactics, milestones, tasks, assumptions, and essential numbers (projected sales, direct costs, expenses, and cash flow). All business plans should develop accountability and tracking.
Highlight the key aspects of your financial plan, ideally with a chart that shows your planned sales, expenses, and profitability. If your business model (i.e., how you make money) needs additional explanation, this is where you would do it.