By on February 14 2018 07:03:37
Market Analysis and the Competition. In this section, you need to demonstrate that you have thoroughly analyzed the target market and that there is enough demand for your product or service to make your business viable. The competitive analysis includes an assessment of your competition and how your business will compete in the sector.
A business plan gives an outline of your business, the market in which it will operate and how it aims to make money - and should answer this question: why will your business succeed when so many others fail?
Appendices and Exhibits. The appendices and exhibits section contains any detailed information needed to support other sections of the plan.
Any funder worth his or her salt wants to see it right off the bat. Moreover though, a solid business plan is a living document that will continue to guide your efforts as your business grows. A lot of those mistakes (most of them, in fact) are the result of poor planning. Bad location, a marginal niche, having no specific user in mind, raising too much or too little money--all of these issues can be prevented or at least mitigated with good planning.