Business plan: what it is and how to prepare yours

THE business plan It is one of the pre-launch stages of a company, but if you haven't done it yet, know that it is possible to do it at any time.

This is because the function of this document is to detail the business model to be followed over time, aiming to achieve a certain result in the market.

So, if you want to facilitate your company's success, you should invest in creating this document, and that's exactly what we'll talk about now. Keep reading to find out!

What is a business plan? Why is it important?

Success in entrepreneurship is seen by many as luck, but only those who develop a business plan know that each step is precisely planned to achieve good results in the market.

Managing a business is a complex task, as even the smallest companies depend on several departments to function, such as: administration, finance, purchasing, production, sales, delivery logistics, among many others.

However, simply producing good products and pricing them correctly does not guarantee success. 

Not even selling a lot is the secret to success: selling too much without calculating the correct profit margin or having production delays due to lack of stock can cause more headaches than benefits to the company.

For this reason, in a company everything must be properly planned and calculated, and this is precisely the function of the business plan.

The business plan is a document that aims to describe a business model to be followed to achieve a certain result in the market..

So, if you have a truffle business and want to make your product famous in the city, this document will determine:

• The niche of activity;
• Target audience;
• Product catalog;
• Sales strategies;
• Dissemination strategies;
• Material inventory and replenishment model;
• Financial control planning;
• Projection of evolution for the coming months;
• Among other important points.

So, this document works like a map with the paths to achieve a certain objective.

6 tips for creating a business plan 

Developing a business plan is a complex task, so many companies take months or even years to find the ideal model.

This is because correct planning ensures that the business reaches the market with the right strategies, and therefore results come more easily.

So, instead of launching a hat store and hoping for big sales, with a business plan you know exactly how to find an audience, promote the product, and have a projection of the results.

However, if you're completely lost in this task, don't worry, as we've put together 6 tips to help you create a good model. Check them out below:

1. Establish your product 

Some people think that establishing a product is easy, after all, if I want to sell bracelets, I'll sell bracelets, right?

No. You won't sell bracelets if you don't know what material they're made of, what models they are made of, and how many options you'll have in your catalog.

There is a big difference between a company that sells bracelets and one that sells an exclusive bracelet made with selected materials.

Therefore, the first step of your business plan should be to establish the product you want to sell. Understand what you want to launch on the market and what sets your idea apart. This will help you in the next steps.

++What's the difference between price and value? Understand it simply! – Valor Notícias.

2. Determine the target audience

There's an audience for every product, and that's true. We have people interested in all kinds of products.

However, advertising your product in the market and hoping your audience finds it is like shouting in a crowded shopping mall: no one will be able to hear you.

Therefore, determine your target audience and understand who your company will serve. This will help you understand which products you want to sell, what quality, and what strategies you should use to reach these people.

3. Plan your launch and audience attraction strategy 

If you're looking to launch a business from scratch, it's important to know that there are already many companies on the market, so yours should have something that stands out.

So, in your business plan, establish a launch strategy that actually works to attract an audience.

Remember that you must communicate with your audience, so find ways to reach them and get their attention.

4. Evaluate logistical issues for your business plan

There's little point in having an excellent product, investing in a good sales strategy, having a great launch, and then ruining everything with poor logistics.

Late orders, damaged products due to improper delivery, and poor service are serious problems that can make any customer lose trust in a company.

For this reason, when developing your business plan, it's crucial to plan your company's logistics—that is, how the sales, delivery, and after-sales process for customers will work.

Remember that the customer experience starts with the ad and ends with the support received after the order is received, so don't ruin everything by focusing on just one end of the stick.

5. Plan your finances 

Some companies face operational problems due to financial issues, and this is generally due to the lack of a business plan.

Launching a product and having to lower the quality because the first model sold was too expensive can be a terrible move. Consumers notice the change and feel cheated.

Furthermore, overselling and not considering financial strategies for replenishing inventory can paralyze your company and cause it to lose market share.

For this reason, make good financial plans considering all stages and sectors of your business, this will make it easier to ensure everything runs smoothly.

6. Enable the continuity of your business

Most companies are only concerned with achieving a good market positioning upon launch, and this isn't the most complex of tasks.

But think: how many companies do you know that launched an excellent product and gained market share, only to disappear shortly afterward because they didn't offer anything innovative?

A successful company must reach the market and remain there, so your business plan should include procedures and strategies that will ensure your brand remains popular with the public.

Developing a business plan is a complex and laborious task, so we recommend that you approach it patiently and, if necessary, seek professional support.

This way, it will be easier to achieve good results, which will certainly help your company from launch to consolidation in the market.

Read also: Loss Prevention in the Fruit and Vegetable Sector: Essential Tips – Valor Notícias.