By Mildred J at July 26 2019 06:17:12
I have written business plans for all manner of industries: a coin operated jukebox company, airlines, travel companies, new product launches, and anti_aging product companies. It is not necessary to have a passion for the product or the company to write or develop a business plan. What you must have is a passion for aggregating information, getting involved with and understanding the service or product, and understanding the financials of the product or service. By financials I am not referring to having a CPA before you undertake the task, but rather understanding the presentation of the information and analysis/ numbers to support the activity being planned. Financials are important because they are the score card in the world of commerce.
Some of the questions a growth business plan might ask you are: _ Are you comfortable that the market wants and is willing to buy your product or service? _ Is your product or service priced so it is competitive in your market? _ What's different about your product or service? Why would a customer purchase it over someone else's? _ Is your market big enough to support your business? What about 15 years into the future? _ If you wanted a better lifestyle, what would your business need to do to give you that lifestyle? _ How much sales would your business need to generate to give you that income? _ How much sales would your business need to generate to give you the income you want 15 years into the future? _ What will be the cost of your labor and material? _ What will your expenses run? _ How much will it cost to overcome the capacity constraints that will occur as your business grows to meet your income requirements? _ Will your profit give you the income you want in the future and at the same time maintain a healthy business for you as well?