Your business plan is your model, backbone and foundation of your brand’s business.
It describes the value your brand offers to its customers. It illustrates the capabilities and resources required to create, market and deliver this value, and to generate profitable, sustainable revenue streams. Identifying and implementing a sustainable business model is one of the major steps towards creating a business
Your business plan consist of answering the following 10 crucial building blocks :
- ?BRAND NAME: What your is your business brand name?
- ?TARGET AUDIENCE: What type of people are trying to target?
- ?CUSTOMER PROBLEMS/NEEDS: What problems are you trying to solve for your target audience?
- ?FREE VALUE: What free services will you provide that help solve your audience’s problems & needs?
- ?REVENUE STREAM: How does your brand plan to generate money?
- ?PERCEPTION: How do you want to be perceived by your target audience?
- ?COMPETITORS: What other business brands are similar to yours?
- ⛳️CHANNELS: Where do you go to find & market to your target audience?
- ?COST STRUCTURE: What will your fixed business expenses be to develop your brand?
- ?KEY METRICS: How will you measure the progress of your business. What key info will you look for ?
Why Is It Important To Draft A Business Plan?
Drafting a Business Model Roadmap is important because it documents what your business is, who its for, your value propositions that help you sell and how you will make money. Without knowing these key things you won’t be able to create marketing strategies and connect to the customers you’re trying to solve a problem for.
What Are the Benefits Of Drafting A Business Plan?
Drafting a business plan helps you:
- Plan the structure of how your brand makes money
- Plan your business theory and test that your brands solves your target customers needs
- Plan your market positions
- Plan unique propositions that help you sell
- Question your original ideas.
- Determines the way your brand does business
How Creating A Business Plan Benefited Me
Drafting my Business Model Roadmap was a HUGE asset for me in developing all of my successful brands . As an entrepreneur, It’s invaluable for me to be able to literally see my business before in a visual format and assess it. It feels like I’ve actually fleshed something out without having to write a 20 page business plan! Amazing!”