Every young entrepreneur is always on a lookout for a free business plan that can help him state his business goals well. Unfortunately, getting a free business plan is nigh impossible. No business consultancy firm will offer you its service for free and so you shouldn’t expect it. However, if you play a little smarter you might be able to figure how exactly you can get a free business plan for your business.
Usually, for entrepreneurs, writing down a plan is an abstruse task. Especially if you are a young entrepreneur, the task will intimidate you even more. So, how do you plan on getting yourself a free business plan?
To get you started, here are the four most important elements that you need to begin with. Once you have stated down these, it will get as easier as falling of the log!
First and the foremost, write down the executive summary relevant to your business. An executive summary will provide you a short and snappy synopsis of the business plan. Also, this executive summary will highlight the key points of your business. Your executive summary must be capable of conveying the scope of the market opportunity, profitability mode and the skills being consumed to the prospective investor. Don’t make it too detailed. A concise yet effective executive summary is the key to success.
Analysis of the industry:
This should be your second section which should highlight the industry you are targeting and its pros and cons. Remember, the trends in an industry are always changing. Therefore, you industry analysis must be current and up to date.
Analysis of the company:
In this section, you will write down about how your company can manage the ups and downs within the industry smoothly and garner profit. You also need to describe your company’s work flow, the organizational process and the particular services it will be offering and resources it will be consuming.
Analysis of the target market:
While analyzing the target market, you need to break it down into two segments; target customers and the level of competition. First off, start with talking about the customers you want to target and present their stats and demographics. If possible, present surveys pertaining to your industry as well. In the second segment, mention the current competition and the market trends. Whether it is a perfect market competition, monopolized competition or an imperfect competition, make sure you state and describe it in detail. Also state the strengths of your business in relation to the demands of the customers.
If you are looking for a free business plan then this is where you can start. These 4 points are the basics of every business plan. Follow the structure and you will have a free business plan of 10 – 20 pages easily within a day!