Twelve Steps to a Successful Business Plan

Description Industry Analysis Marketing Plan Operations Plan Development Plan Financial Plan Other Plan Components
Step 1 Assess Concept Concept Assessment:
Seven sentence marketing plan,
profitability analysis
Step 2 Begin Industry Industry/Marketing Analysis: Product description:
Analysis Investigate and define industry Features, strengths, pricing
and marketplace strategy
Step 3 Begin Marketing Plan Customer Analysis: Target Market Mission Statements:
Market needs and benefits Mission and vision for your
analysis business
Step 4 Begin Operations Plan Competitor Analysis: Product / Service Strategy Scope of Operations:
Identity competitive position What to do internally
What to contract out
Step 5 Begin Development
Plan

Step 6 Build Strategies

Step 7 Forecast Costs &

Revenues

Step 8 Create Financials

Step 9 Determine Funding

Needs

Step Formulate an Offering

10

Step Publish your Plan

11

Step Present your Plan

12

The Seven Sentence Marketing Plan

1. Purpose – what do you do, what do you want to do.

2. Prime Benefit/Advantage – one thing you do better than anyone else.
3. Target Audience(s) – who are your customers and potential customers
4. Weapons – what resources do you have to communicate

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Twelve Steps to a Successful Business Plan
5. Niche – a one-word description of your uniqueness
6. Identity – what is your personality as a business
7. Budget – how much can you spend

Example
1. We are the number one provider of high-end shoes in Boone County.
2. We have a broad selection of the most popular shoes backed up with unequalled personal service.
3. Our customers can afford to spend more on shoes and appreciate one-on-one attention.
4. We have a customer database that allows us reach out regularly to good customers and a referral program that encourages them to refer friends to us.
5. Trendy
6. We have the best shoes in the latest styles sold by the friendliest people.
7. We will spend 4% of gross revenues on marketing.

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