Identify the what, the why and the how when building your plan

  • Today I am looking at why it is so important to identify the opportunity when building your business plan. This is vital before embarking on a business planning process.

  • You first need to focus on the What, the How & the Why?
  • What you do?
    • In terms of what you sell
    • Who you sell to
    • What you charge
  • How do you deliver it?
    • Traditional vs on line
    • What are your costs
    • How much do you make on a sale
  • Why customers buy from you
    • Price, service and value proposition
    • Assess yourself against the competition
    • How often do they come back
  • Important to capture whether you are planning any major changes in your business
  • Keep in my mind what makes you special. You will need to capture this in your plan.
  • Tip: Keep it simple. You don’t want the reader bored or confused at the beginning of your story – try it out with your partner or even your teenage kids. If they don’t get hooked at the beginning you know it needs changing.

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