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Here’s all the common ways entrepreneurs write business plans today: Regardless of the medium you choose, or whether you’re writing a one-page or full-length business plan, there’s 9 key components all business plans include.
While all of these should be considered, you may emphasize, skip, or move around some sections depending on your particular situation: The first part of your business plan is a brief summary of your business: Start it off with your 1-sentence pitch.
(You’ll describe the backend later on when you get into your business model.)One way to do this is to draw a visual step-by-step process.
Think of the 4 to 6 main steps of how your product/service is used.
It continues to explain how their product uses remote sensors to track water levels, thus relieving a great burden for ranchers.
Explaining your business in terms of a problem and solution is necessary to prove why your idea matters.
Again, this shows you’re knowledgeable about the industry and market.
It will also be helpful when you write your marketing model further below.
Other ideas include a “before/after snapshot,” which illustrates how consumers went about a problem before and after the introduction of your product.
Then, illustrate the process with a simple graphic like the one above.
Entrepreneur Patrick Fitz Gerald explains this in more detail, and provides more examples, in this video lecture.
If your city doesn’t have a good pizza shop, this can be just as much of a “problem” – at least, in the context of a business plan.
For evidence, cite specific conversations you’ve had with residents that expresses their interest for the type of product or service you’re providing.