Planning for the future can often be scary. When I started TSK last year, I wish someone had given me an easy guide to creating a business plan so the process didn’t seem so daunting and time consuming. After endlessly searching the Internet for tips and tricks of the trade, I have compiled 10 easy steps that will steer you in the right direction and get you focused on your future without any looming stress.
1. The Mission – A one-sentence description about your business.
2. Problem Solving – The “problem” your product is responding to by being in the market.
3. Service – A description of your products (photos are always a good idea).
4. Competition – Who else in the market is doing similar things and why is your product(s) better?
5. Target Market – Who buys your products (or will buy your products)?
6. Budgeting & Forecasting – How much does it cost you to produce one of your products? How much do your products cost, how many of them will you sell this year, and how will you make a profit?
7. Marketing Activities – How do (or will) you market your products?
8. Goals/ Milestones – What are your business achievements? What are you working toward?
9. Management Team – Who are you, and why are you the right person to lead your venture?
10. Funding Needs & Use Of Funds – How much money you need to launch or grow your business, and what specifically will you use the funds for in your business?