Best business plans that can make you a successful entrepreneur that can save your new business from an unexpected shutdown. Remember, having a huge money and just ‘kicking it’ will never be so easy to begin a Successful Creative Business. If you want to become an entrepreneur or have just started a new business, you must aware of facing this crazy fact: 86% of new businesses disappear in the first two years in all over the world.
There are three ways in which you want to become an entrepreneur:
- Because you have a business idea.
- Because you inherited the company or
- Because you are desperate to get money.
And the combination of despair, money, and ignorance is very dangerous, so we suggest you to work more with enthusiasm. For this reason, there must have to be some best business plans.
Making a business plan is like a courtship. A business plan should be able to tell me if the business is viable or not, and not play in a business venture my heritage and that of my partners.
But how do you organize your business plan in a clear and concise manner?
We will explain the 13 points that every entrepreneur must consider to develop best business plans to save a company in crisis:
1. Business Description
Make it clear if you are going to sell tangible, intangible products, or if you are going to sell services. Remember that the average citizen does not have an excellent service and a good way to differentiate is the way you will sell your product.
In this aspect, it also includes how you will be constituted: company, by honoraria, moral person, for profit or non-profit. And do not forget the selection of staff. At this point, you have to seek to fulfill seven basic entrepreneur characteristics: Aptitude, attitude, skills, experience, availability, honesty and loyalty. Define the profile you need for each position to achieve your best business plans.
2. Identify desired niche markets in your business plan
Clearly define the profile of the customer you want to sell to. If you are a moral person, you have to go through these three basic criteria: place, turnover, and a number of employees. If you are a natural person, think about your age, sex, marital status, activity, socioeconomic level, hobbies and in some cases religion.
“The ideal customer is the one who needs your product or service, and can afford it”.
Why you should define your potential market with market research?
- To identify the needs of the product or service in new or existing markets.
- To develop a selling strategy.
- To predict your sales trend.
- To study the procurement of raw materials and materials
- To schedule production, sales, and distribution.
- To analyze consumer attitudes.
- To conduct promotional campaigns.
- To establish the amount of the capital required.
- To plan for utilities.
3. Selection of territorial coverage of the business plan
Find the financial balance. Add up your monthly costs, plus your monthly expenses and this has to be equal to your monthly sales. Taking balance adds utility. Calculate how many products you have to sell to reach the goal, then the number of clients converts it into blocks, colonies, delegations and in some cases states.
Keeping an accounting will give you certainty in your numbers and in your administration.
4. Definition of the positioning of the desired business
This point refers to the place that your brand occupies in the minds of potential clients. You can position your brand by youth, innovation in the market, antiquity, and experience in the market, low price, exclusivity, or reference to the leader.
5. Design your best business plans with unique proposal
The promise you make to your customers should have a measurable, tangible and verifiable result (“In 30 minutes your pizza comes or it’s free” by Domino’s). What you can measure, be profitable and you can comply do so. If you cannot, you better not go.
You may also like to read: 10 best creative business ideas with low investment in 2017
6. Basic investment to start the business plan
This point is of addition and subtraction and asks yourself this series of questions: How much money do I need to start my business or to develop my business plans? How much do I have? How much do I need? Who am I going to ask? And how much will it cost me?
7. Business plan for financial goals
They have to fulfill four conditions: Specific, measurable, attainable and compatible. By saying compatible you must respond to these questions: Does the market need my product? Can I make it? And can I deliver it?
8. What to sell to achieve financial goals
At this point, where the role of an entrepreneur who is expert in what he does. It is not a question of pushing products or services, but adapting to what the customer requires, because as an entrepreneur you depend on buying, they buy you back and recommend you.
Now, do not forget that there is also the Lean Startup method, whose methodology recommends not investing in a very heavy structure and be very much in the customer, in determining if there are customers or users for our product, if sustainable, if feasible.
You may also like to read: Turn your Worse Business Ideas into Creative business ideas in 2017
9. Initial definition of prices helps to identify best business plans
To define your prices well, you must have to consider three letters “c”:
- Costs: Unit costs + expected profit.
- Competition: Research the lowest price, which is the highest and the market average. A good strategy is to enter slightly below the average price.
- Capacity of my potential customer: Ask yourself the question can my consumer afford to buy it?
10. Marketing means for the best business plans
The medium you are going to use defines your niche market. There are two large groups of clients: the traditional and the digital. The traditional is sold through media such as radio, press, television, in which there is no interaction with the customer. But digital is generally a more informed customer and the strategy should seek interaction.
11. Include Marketing Goals in the business plan
It allocates 3% of your sales to invest in advertising and promotion. Advertising gives reasons and promotion incentives. I will suggest you make promotional campaigns both when you have low sales and high sales, in the latter case in order to increase your customer base.
12. Targets for the development of new products in business plan
For this point you will get proper and best suggestions based on these three sources:
- Ask your customers. Usually, 20% of customers give you 80% of your income. Question this 20% about what kind of products and services they would like to see.
- Identify the best. Follow the so-called ‘technology of the obvious of the Japanese miracle’: Identifies the best, imitates the best and surpasses the best.
- Creativity. Apple genius Steve Jobs said, “The market does not know what you need until you show it to them.” At this point, you have to be commercially irreverent.
13. Best business plans should include with Promotional materials
The first thing that should appear in advertising is not what you sell, what you do, what you offer, who you are or your prices, but respond to your customers what your product does for them. Do not sell the road, but sell the destination.
End up with
I will suggest you update your best business plans every year. “What you did last year to be successful, this year is not enough anymore.”
“This plan helps to refine the business idea, identifies critical variables of success, facilitates the development of the business project, gives focus and direction is a tool to run the business.