How would you create a business plan

Hello everyone,

Let’s say you were thinking of starting your own internet business what would be your business plan? In general, what would your step by step approach be to making the business successful?

 

Some of the reasons businesses fail is because owners over-estimate revenue and under-estimate expenses. So in your plan you need to be realistic about revenue/expenses, especially where you're funding will come from initially (since you'll be in the red until your business grows).
Also, clearly describe your target audience/customers - to say 'everyone' is a recipe for failure. Be specific and ensure advertising efforts target the correct crowd.

Hopefully some this helps with your plan - good luck!

 

Here are some simple steps I'd take:

1. Make sure the business is a good one. I must know it's a good market to get into and it will produce good results.

2. Find out the total cost to get everything up and running including the advertising costs.

3. Once I have the expenses ready. I'd get everything else done, like make sure the business is all setup and ready to go
(If possible). And if there are any partners involved I'd make sure they're ready.

4. Then I'd start advertising.

Just make sure you work at it everyday and voila, a perfect business in progress. sounds simple right? Well there you have it.
I hope I helped.

 

The forst I should have the enough money and enough people who canmanage to make website and can do the foreign trade business and then I will do some job hunting for more people wo are useful to me and then I wil choose a kind of products that can sell well in some other countries but the resources near me are really aboudant. ThIS IS just the beginning of my plan. Many details should be paid attention to the work of opening a new bussness

 

One piece of advice I would give is not to stress over making a full business plan that contains lots of long-term projections and as others have pointed out, has immense variance based on small assumptions. Even if you have to share with others, focus on describing the core of what your business will do. Share a couple number if you want, but don't spend too much time on them.

The other item I would share is to estimate/project from the bottom up. Here is the difference:
1. Top Down: The market is $1B. If I can just get 0.1%, then I will be RICH!
2. Bottom Up: My widget costs $10 and sells for $25. My current traffic is X with conversion rate of Y. I am currently making Z. To become profitable I would have to increase either traffic or conversion rate by.....

 

To create a business plan takes sincere focus dealing with great effort. But it not what we think it is because it is any plan that works for a business to look ahead, allocate resources, focus on key points, and prepare for problems and opportunities.

"Some of the reasons businesses fail is because owners over-estimate revenue and under-estimate expenses." gotlivechat is right with this thought. Business plan must always be realistic and base on existing fact. There is no definite standard business plan because one differs from the other. The key element in planning a business is simply thinking of its results.

 

I would do a good research of site in my niche with high pr ranking and most unique traffic.. then I probably ask myself what I can do to make it better and etc. 1. Focus to put useful content in my site 2. Start promoting with some costs 3. Focus on Traffic 4. Track and test performances.

 

the first step for me would be to define my specific goals, both in the short and long-run. then from that, i will define my niche market, make a swot analysis (if you must, or if you care to have the time), then create a marketing strategy.

 

Step by step business plan is to define:

1) Target audience and demographics
2) Product that you are selling
3) Define pricing, promotion and placement - i.e. how much, how you will promote and where you will distribute
4) What is the competition looking like - who is the competition
5) What are your barriers to entry
5) Who are your potential investors or are you self-funding?
6) Exit strategies - are you planning to go IPO, self-sustaining company, want to be acquired?
7) What are the products FEATURES and BENEFITS. Important to get right benefits are what sells.
8) Financials/Projections - very important for investors to see

 

In business, an exit strategy is usually determined at the outset of the business modeling. A good business plan will incorporate an exit strategy for investors, helping to show them that the model will result in profit for them, no matter what. An exit strategy can take a number of different forms, depending on the business, the investment, and the general climate. An exit strategy is often presented as a bail-out option, in case the company begins losing money, or it appears its future is not as bright as predicted.

 

If you want to run a business, first you have to fixed your target market, who will consume your service. Then you have to set your goal but before that you must think about the duration of your business, time, place, even whether. and you must make sure how much better service you will be able to provide your consumer.

 

Remember that a business plan is a tool to help you understand your think through all the facets of your business. In its simplest form, a business plan answers four questions:

1) What need am I solving?
2) Can I get in front of people who have this need?
3) How am I different?
4) Can I make money doing this?

Most business plan templates may ask for more detailed information, but there are the basics. I found this information on a blog post called What Makes a Good Business Plan? You can find more helpful information on there.

 

There are 2 things very important when starting a business: 1) research, research, research your product/niche 2) consider advertising costs and don't be afraid of trial and error- your first campaign may not lead to much but you have to keep going. Good luck!

 

Nice suggestion.

 

Yeah, there were a couple of really good suggestions I totally agree with...

First of all, your business plan should be looking no more than twelve months and you should do it "rolling" quarterly - basically revise it every three months to take into account reality.

Second, understand your competitors, what the customers think their weaknesses and strengths are and then evaluate whether your product or service competes against the weaknesses of your competitors and doesn't put you directly into what they do well.

Finally, be prepared to be flexible. Your business is an organic thing, if things change be prepared to go with the flow a bit.

 

Here you can network with business owners directly using various methods, some of which include live chat, exchanging virtual business cards, creating personalised business profiles.

 

• How much money will it cost me?
• What is the expected revenue
• How am I gonna promote it?
• How much time do I have to invest?
• Can I do everything myself or do I need to hire people?

Stuff like that

 

I am sharing a list that can help you to create your business plane:

* Let’s start with the name of your business
* Write a very brief statement that tells what kind of business you are in.
* Create a “Statement of Purpose” for your business. Some people call this
section a “Mission Statement.” Think of it as an explanation of what your
business is, what it does, and any features or assets that make your business
special or unique (i.e., stand out from the crowd).
* List the services that your business will provide.
* Develop a list of potential clients who might be willing to pay for a Web site.
You may wish to serve a variety of markets or you may want to target a particular
group only.
* Define your business goals clearly. This is often one of the most difficult
sections of the plan to determine.
* List your coordinates.
* Describe the legal construction of your business. It can be a sole
proprietorship, partnership, or a corporation. It may also have special features
depending on local requirements and regulations…
* Define who is running your business and their position in the company.
The format of this section may change depending on the legal construction…

I hope you would like this.

 

Business is just a combination of demand and supply. You just need to act immediately if you notice the demand that you can fulfill for profit.
You never need a plan unless you have a boss to report your actions.

 

Thanks! for your support and feedback now I feel confident that I can start a successful business