Business Plan Outline That Works Simple and Effective Part 2

Business Plan Outline That Works Simple and Effective Part 2 - Keep in mind that it doesn't have to be a major world issue, if your city doesn't have a good mexican restaurant then that may be a problem as well.Solution:As we also outline in our article on how to come up with a business idea, the best businesses provide good solutions to problems that people have.airbnb example: They provide an online platform which facilitates the connection between people with space to rent and people who want to rent it. They make the process smooth by handling the payments, providing insurance to the rentee, and providing reviews of users to both therentee and the renter.Here you can also provide use cases if you are a service or screen shots if it is a product.Why Now?Describe how the company got to where it is today.

This is where you could include how you came up with the business idea, and what you found when you tested your idea.What recent trends make your idea possible? For Airbnb one such trend was likely people's increasing comfort with relying on online reviews and making purchases online. Who is your target customer?Describe your target customer based on personality type, income level, age, gender etc. How big is that market? For more on how to calculate the size of a market read the article8 Steps to determining market size from insight central which I have included in the resource slink under this Post.

Competition Who are your primary competitors and what are your competitive advantages?List out the primary features of your competitors product or service and how your product orservice is better or different. A table format such as this one generally works well for this.Product What is your product or service and how do you plan on developing it? In the problems and solutions slides we talk about above, you are listing the benefits of your product or service to the end user. In this section you are talking about specific features.Give the timing for each phase of the development process through launch.Business Model This section should answer the following questions.

Revenue Model How do you plan to price your product and what will your profit margins be? For more on how to price your product or service read the pricing guide from Elizabeth which I have included in the resources link below this Post. Distribution Model How do you plan to sell your product? Are you going to sell directly to customers, wholesale or go through distributors?For an in depth overview of sales and distribution strategies see the guide the guide from Shorey Consulting which I have included in the resources link.
Business Plan Outline That Works Simple and Effective Part 3