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.
Investors and loan providers need to know that you have a solid understanding of the trajectory of your business. You need to prove that there is an attainable and sustainable need for your solution, that you have a strong business strategy, and that your business can be financially stable.
Did you know that the vast majority of business owners and entrepreneurs aren`t business experts? They don`t have MBAs or accounting degrees. They`re learning as they go and finding tools and resources to help them.
If you expect to be the market leader in 2 years, you need to demonstrate why this is possible and how you`ll meet this goal. If you say your product will be viral, you have to support this statement with facts and a strong analysis explaining why people will like your product or service and how they`ll help you promote it.
And you don`t have to start with the full, detailed business plan that I`m going to describe here. In fact, it can be much easier to start with a simple, one-page business plan—what we call a Lean Plan—and then come back and build a slightly longer, more detailed business plan later.
Writing a business plan doesn`t have to be complicated. In this comprehensive guide, I`ll show you how to quickly and easily write a business plan that will get the results you want. Don`t worry, you don`t have to have a business or accounting degree to put together a great business plan. This guide will show you how to get your plan done step-by-step without any of the complexity or frustration.