Creating a Business Plan
Lesson:
What Can You Learn from Your Competition?: Crash Course Business Entrepreneurship:
Project Description:
It’s time to create a business plan for your start-up! Use the insights you gained from analyzing your competition in the previous video, analyzing their strengths and weaknesses, to develop a unique value proposition and competitive strategy for your own business.
Writing a Business Plan:
Instructions: Use these questions to help you write a summarized business plan.
What is the business?
Describe your business idea in one or two sentences.
Explain the problem your business solves or the need it fulfills.
How does it work?
Outline the key features or components of your product or service.
Explain the process or mechanism through which your business delivers value to customers.
Who is the team?
Introduce the members of your team and their roles.
Highlight the relevant skills and experience of each team member.
What is the market?
Define your target market, including demographics and psychographics.
Explain the size and growth potential of your target market.
Who are the competitors?
Identify your main competitors and their strengths and weaknesses.
Explain how your business differentiates itself from competitors.
What’s the market strategy?
Outline your marketing and sales strategy.
Describe how you plan to acquire and retain customers.
What are the numbers?
Provide a summary of your financial projections, including revenue, expenses, and profits.
Explain your pricing strategy and how it aligns with your financial goals.
What do you need?
Specify any funding or resources you need to launch and grow your business.
Explain how you plan to acquire these resources.