Business planning and preparing the business plan is a process that will lead to the lighter road that you will need to walk in the next period of your entrepreneurial journey.
The business plan is something that will give you the opportunity to monitor your achievements and of course, to improve all your past failures.
In this post, I would like to present questions that you must answer in order to prepare your business plan for the next year.
1. What are the short-term goals of your company?
2. What are the long-term goals of your company?
3. What are your personal goals for the next year?
4. What business model you will use in the next year? Is it the same as last year, or you will make some improvements?
5. Why exactly your products or services will be better than competitors products or services? What are their advantages over competitor’s products and services?
6. How your company can help the community where it operates?
7. Where your customers will buy your products or services? Is it physical, online or some combination of locations?
8. How much they are willing to pay for your products or services?
9. What are the most powerful competitors for your company? What do they provide as value to their customers?
10. What value to your customers provides your products or services?
11. How can you improve your business ideas?
12. What are the target customers for your company?
13. What is the age of those targeted customers?
14. What is the sex of your targeted customers?
15. What are the needs of your targeted customers?
16. What is their financial status? Is it in the fit with the prices of your offers?
17. How can you reach your targeted customers? What reaching channels you will use?
18. What slogan you will use to attract these customers?
19. What type of financial strategies for your business you will use in the next year?
20. What, and how much will be the cost to run your business?
21. How much monthly budget will have your business and for what you will spend that budget?
22. What will be the cash flow in your business for the next year?
These are the fundamental questions that you will need to answer for your business plan for the next year. Everything additional that you think you should answer in your plan, simple answer those questions. Each business is different, and so the answers will be different for a proper business plan.