We understand that most entrepreneurs can not afford consultants to get through this process. If that’s your problem, here are some tips low cost or even free so you can keep up a business plan without professional help.
Consider four factors making up a business plan: opportunities, execution / implementation, solution and results.
Do not forget to read “Investors Want To Fund Your Business”. This article will tell you what He wants an investor in a business plan.
Get business planning software such as “Business Plan Pro” from Palo Alto Software. The format is more flexible than can be found at any site on the Internet and can be a good draft business plan.
Find an advisory who Bermudian guide you and guide you through the process of drafting a business plan.
Here are 4 questions guide which you can use when preparing a business plan:
Question # 1: What is the problem?
Basically if there is no problem in the market which is a requirement in large numbers that have not been met, then there is no point in trying to sell a solution. So you should be able to explain how the person or company experienced significant levels of pain because existing solutions are inadequate.
Question # 2: What is your solution and what makes it special?
This question is obvious. Tell them what you are doing and how your customers will reap the benefits of the solution you offer.
Question # 3: How big / severity of the problem?
An interesting problem from the perspective of investors is a big problem. This problem is more preferably in the form of problems that make people willing to pay lots of money to solve.
Question # 4: How much profit will be generated?
The question one would surely be obvious to most of the pioneering efforts (we will sell this product for Rp. 1000 / fruit) but not that obvious to others. Software, for example, can be sold based on the number of users or the number of places, with or without further cost, with or without maintenance costs, with or without installation or customization fees, and so on. Or you can give away for free product and reap profits from other products that accompany it.