What's in it for him or her? Be specific.
I wanted to change the way payments were made and make it easier for anyone, anywhere in the world to pay anyone with few to no fees. Next, list the business' principals and state what they bring to the business.
But, how do you write a business plan? Your business plan should conform to generally accepted guidelines regarding form and content.
When describing your business, say which sector it falls into wholesale, retail, food service, manufacturing, hospitality and so onand whether the business is new or established.
Whoever reads your business plan should be very clear on who your target market is, what your market niche is, exactly how you'll stand apart from your competitors, and why you'll be successful doing so. Once you've grouped your competitors, start analyzing their marketing strategies and identifying their vulnerable areas by examining their strengths and weaknesses.
Each section should include specific elements and address relevant questions that the people who read your plan will most likely ask. Make sure to analyze your competitors' distribution channels before deciding whether to use the same type of channel or an alternative that may provide you with a strategic advantage.
Some people think you don't need a business plan unless you're trying to borrow money. If your plan isn't too complicated, keep your business description short, describing the industry in one paragraph, the product in another, and the business and its success factors in two or three more paragraphs.
A great business plan will always include a strategic and aggressive marketing plan. The analysis of the balance sheet should be kept short and cover key points.