Business Development - Business Plan Checklist

PLAN YOUR DETAILS

  • Name Your Company

  • Create a logo for your company

  • Create a branded cover for your business plan

 

WRITE A DESCRIPTION OF YOUR BUSINESS AND COMPANY

  • Craft your business’s brand message by telling the world:

  • How you become a company.

  • What your company wants to achieve. Who your target audience is.

  • What your products/services are and what makes your company unique.

  • Write a description of your company to guide your mission statement.

  • Write a mission statement to reflect the values of your company.

 

 

DEFINE YOUR TARGET AUDIENCE AND CREATE A BUYER PERSONA (PROFILE).

  • Do customer and audience research by conducting interviews and surveys among your current customer base.

  • Compile all demographic, interest, and contact data you have about your current customers

  • Analyze who your current customers are, and define your target audience.

  • Who are you customers? What are their demographics, characteristics, challenges, etc.?

  • Why should they be interested in your products? What challenges does your product help them solve?

  • How are you going to sell to your buyer persona? What is your brand’s message and elevator pitch to your target audience to help your team make the sale?

PLAN THE DETAILS OF YOUR PRODUCT LINE /SERVICES

  • Calculate the costs of creating or offering your product or service.

  • Determine a pricing model that will allow you to make a profit from selling your product or service. Pay attention to how you will continue to generate revenue over time.

  • Write down your pricing model and all details of how you will produce your product as a part of your business plan.

  • Have someone look over your pricing model and production calculations before setting your product service line in stone.

 

CREATE A SALES AND MARKETING PLAN

  • Determine the methodologies and tactics you’ll be using to market and sell your product.

  • Research and determine which tools you’ll need to use to marketing and sell your product.

  • Create an initial marketing and sales organization.

  • Determine who will take care of your marketing.

  • Determine who will be actively selling your products.

  • Make a plan for marketing and sales alignment.

  • Determine which acquisition channels you’ll be using to find new customers.

  • Create a website and fill it with relevant content for your business to help your customers find you.

 

CONSIDER ALL LEGAL OBLIGATIONS

  • Research the types of business legal structures and choose one for your business.

  • Determine what kinds of tax and legal considerations you’ll have to figure out before starting your business.

  • Research your industry and competitors to determine if and what legal considerations your business will have to face to even do business (for example, alcohol permits, state restrictions, liability insurance, etc.).

  • Make a checklist of all legal considerations you’ll need to deal with and determine whether to hire a lawyer to help you setup your business.

MAKE YOUR FINANCIAL PROJECTIONS

  • Determine how you plan to make money.

  • What is your pricing model? How will customers pay you?

  • How will you continue generating revenue over time?

  • Determine how much money you will need to operate. 

  • How will you raise money?

  • What money do you already have available to you?

  • Create necessary financial statements:

  • Profit and loss projection Cash flow projection Projected balance sheet Break-even analysis

Building your business is a big step a test of self discipline and organizational effectiveness. You have heard the saying "plan your work then work your plan". The more detailed and thought-out your strategy is the better your chances for success!

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