Gaetana Alix August 13, 2021 Business Plan
Investors, lenders, and others know that a market without competitors is typically a tiny and uninteresting market. And, of course, a healthy, growing market will always attract competition. So, unless you`re creating a new industry or a new market segment, you will have competitors. And, you`ll need to figure out how to beat them or at least to compete with them.
This means having the right financial statements, forecasts, and a digestible explanation of your business model available for potential investors. Writing your business plan helps you put all of those pieces together and create connections between them to tell a cohesive story about your business.
The vision should include tangible goals such as profits and market share, but more importantly, it should focus on the intangible/unquantifiable long-term goals, such as your willingness to adapt, emerging business-trends, and an ever-present desire to `excel.`
When writing a business plan, have an end goal in mind. You need to ask yourself, Where do I want it to go? What will my business look like? Stated differently, how do you want your business functioning in the next five to ten years? This is your vision.