Startup Business Plan and Why It Is Important to Your Business Operation and Success

  

To effectively deal with problems or challenges as a startup entrepreneur, it is recommended that a complete business plan is needed regardless of how big or how small your business is. When you sit down and think about what you need to do with

your business, and how to make it runs the way you want it, then all that thinking and vision need to be entered into a business plan. Basically, a business plan is a written description and a document that outlines your business future, and how you intend to carry it out from point A to point B. There are many different elements that attach to the business plan, but the main elements that you can start with are: Executive summary, business description, Competitive Analysis (SWOT analysis), Marketing Research and Strategy, and Operation Plans.

Executive Summary is an outline of your business and how you plan to carry it out with the resources that you have. It is clearly stated about your vision and mission, and how you lead your team to achieve your business goal.

Business description is a brief summary description of the industry you are in. You should provide your projection about your company future, and how you get there from where you are now. It should also be clearly written about all aspects of your competitors in the same market, and how it affects your business in a long run.

Competitive Analysis or SWOT Analysis is used to determine your company strength and opportunity as oppose to the weakness and threat of your competitors in the same market. It should also be clearly showing how you maintain a strong competition in the market, and what can you do to beat your competitors in the same industry.

Marketing Research and Strategy is allowing you to show that your products and services are better than your competitors. It requires a great amount of time to do a thorough market research and analysis. As a result, when you are knowledgeable about the market you are in and understand all aspects of the market, you will be able to position your business at a top level and be competitive.

Operation Plans are the final phase, which you are ready to launch your business after you had written down your business vision and mission, moving from point A to point B, perform SWOT analysis, and have a winning marketing strategies on hand. Furthermore, it is important because it outlines how your business is functioning, and how your team executes your business plan to achieve your business goals and objectives.