You have a great business idea. But you’re unsure what to do next. You start putting your resources together to create the product/service. You realize you will need funding. You will need a coherent way to explain your idea. You aren’t sure what direction you want to go. What will happen if you move forward? Will people purchase your product/service? If you’ve had any of these questions, lets take you through how to put together your killer business plan.
For the business idea to success, you need to know the direction you’re going. You need to know the team is on board. You need to have a map to move forward.-Mission, Vision, and Strategy/business plan timeline.
In order to understand the storms you may face, and the water you’re sailing in, you’ll need to have a SWOT analysis-to show how strong your business/crew members are, and an Industry Analysis-to show what the waters currently look like.
Once you’ve gotten those put together, you’ll want to Perform a Feasibility Assessment-this will show how likely your business idea will be to succeed given the current waters/storm conditions.
Next, you’ll want to utilize test focus groups-This is like asking people on the shore if they’d like to see/have seen boats like yours out on the water. If they have, what happened to them. Were they successful, would those people feel confident getting on a sailboat like yours? What would make them feel more comfortable?
Mission, Vision and Strategy
SWOT & Industry Analysis
Perform Feasibility Assessment
Utilize Test Focus Groups
Once you’ve taken these steps, step #5 is to put all these items together in a business plan. This is a document that showcases your research, culmination of ideas, map, research, etc. This is not the end of the voyage, but could be seen as a ship charter. It can be used to prove to you (captain), your crew mates (employees), the potential investors, and more along the way, that you see success on the horizon, you know where to go to get it, and your ship is unsinkable.
For more guidance and to have GBS put this plan together for you, CLICK HERE to sign up today!