Written by Marc Parham, Small Business Expert, CAPBuilder Network Group, www.marcparham.com
Step 1: Creating a Great Visual Identity for Your Business Plan
It has to look good!
Visual identity is an important part of any business. It is a representation of the company and its values.
It also helps with branding, marketing and advertising. Visual identity can be in the form of logo, font or colors.
It should be unique and memorable, but not too complicated or distracting for the audience.
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Step 2: Creating a Compelling Executive Summary
It must tell a great story!
The introduction of your executive summary is what will hook the reader into reading your full proposal. It’s the first impression and it should be a good one.
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Step 3: Creating the Financials of Your Business Plan
The numbers must make sense!
The financials of your business plan are one of the most important aspects. They will give you an idea about how much money you will need to start your business and how much revenue it will generate.
To create the financials, you have to know what type of business you want to open. For example, if your plan is for a restaurant then it would include restaurant costs, food costs, and labor costs. If your plan is for a clothing store then it would include retail store costs, inventory purchase cost, and labor cost.
You also have to create a budget for each expense item so that you can calculate the profit margin percentage on each line item in order to see what percentage of profit margin is enough for your company’s needs.
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Step 4. Writing Strategic Digital Marketing Strategy
You must market online! Enough said.
A digital marketing strategy is a plan that outlines what you want to achieve and how you will go about achieving it. The goal of such a strategy is to create a sustainable competitive advantage for your business in the digital world.
The key points of this section are:
1) Who are you online?
2) Who are your customers and where do they live online?
3) What is the Digital Marketing Strategy?
The business world is very competitive. You will have limited opportunities to present yourself and your business. You must make the most of these opportunities. Make sure that you begin with a great looking business plan. It will set the stage for a additional marketing content to follow. Remember, the Business Plan is truly a marketing document for your business.