Task:
If the business requires outside investment or external investors, include how much is needed, how it will be used, and how it will make the business more profitable. Think of this section as the first thing a potential investor reads, thus, it must capture their interest quickly.
Suggested headings to organize this business plan include the following.
Opportunity: What problem will the business solve?
Mission: What problem will the business solve?
Solution: How will the service uniquely solve the problem identified?
Market focus: What market and ideal customers will the business target?
Competitive advantage: How does the business intend to succeed against its competitors?
Ownership: Who are the major stakeholders in the company?
Expected returns: What are the key milestones for revenue, profits, growth, and customers?
Opportunity: Describe the current market for the business’ offered service. At a high level, what is the market and who are its participants; is it business customers or consumers; what is the specific geography, etc.? More details on the market will be provided in the next section of the plan. Next, describe the current state of available services and how the business will offer better. Also discuss any additional services the company plans to offer in the future.
Product overview: Describe the service offerings of the business in as much detail as possible. If it is effective to include pictures, this would be a good place to place them.
Key participants: Identify any strategic partners in the business, such as critical suppliers, distributors, referral partners, or any others. In some businesses, products are custom-made and any break in their supply will impact the business. There may be key contributors to the services offered, so it is important to identify them.
Pricing: Provide pricing of the service, gross margin projects, and upgrade paths. Describe why the company’s pricing will be attractive to the target market. Have a gauge on the competitor’s pricing and explain how the business’ service is unique to justify its pricing structure.
