Dyon tucker business plan is vital to establish
the structure of business, its aims and objectives, strategies, products and
staffing. It is used to plan and manage your business, apply for funding or
show to potential investors. It has ten main parts and these are:
Cover and index
Sounds a little silly, but a great cover to your business
plan will show the professionalism and care that has gone into its production.
It is also the ideal place to include your company logo and contact details. If
appropriate, include photos of your products.
Vitally you should also include your company name and number
as well as your contact details such as address, website, social media accounts
and email and phone number of your relevant director. You will surprised at the
number of people that forget this feature.
To help potential investors to navigate around, the index
must include all the points of the business plan with the corresponding page
number. Make it as complete as possible so that the reader has a clear idea of
what the document contains.
Executive summary with
the needs and objectives of your business
In the first part of the document you must make a descriptive
summary of the idea that includes the following points:
• The opportunity in the market
• The product or service and its advantages
• The management team
• Financial summary the financing needs and expected
profitability
By writing the executive summary first, your put all the
information down that is in your head. You can always come back to it at the
end of your wiring of the main body.
Plan out your business
Here is the point where you get your scrap paper out.
• You must describe the mission of your business - that is
what you hope to achieve. Then you need a list of actions that your company
needs to get to this point.
• Next you need to work out how you will solve the business
problems you have identified.
• Now describe what your product or service is, what
customers will get with their purchase and what their weaknesses or
inconveniences are.
• Discover what price point your potential customers will be
comfortable with.
• Lastly you need to discover how you can find these
customers.
Often this can all be defined by the use of a business model
canvas and this is the subject of another of my articles. You can purchase
consultancy to produce this model.
Explain the structure
of your business
Dyon tucker making a business plan involves examining the strengths and
weaknesses of your competition, once identified you can justify why your
business is unique. You must distinguish yourself from the crowd to increase
the investment opportunity. That is, refer to the following information:
• Describe what you will be selling to whom and at what price
point.
• Introduce your branding concepts - are you going to be a
luxury company for example or pile it high and sell it cheap kind of company?
• Describe how you will fulfil an order - in other words, the
whole process from purchasing the products yourself to actually delivering them
to your customer and offering after service.
• Clarify how you will cover the main areas of production,
sales, marketing, finance and administration.
• Include management, sales, stock control and quality
control accounts.
• Define how you will sell your products and analyze, if
necessary, the location of the company and the advantages and disadvantages of
this situation.
List the characteristics of the market in which you will
develop your business
You will have to analyse the market conditions: how big it
is, how fast it is growing and what its profit potential is. Explain how you
are going to investigate your audience and with what tools.
Know the target of the market in which the business will be
developed and direct marketing strategies towards that target. If you do not
have a working marketing strategy you will lose time, effort and money.
Devise promotional
strategies
This is where the marketing plan of your business should be
included. It is perhaps one of the most relevant steps when making a business
plan. Promotional and marketing strategies could determine the success or
failure of your company. Try to answer several questions:
• How are you going to position your product or service? This
is where you want the 4 Ps of marketing: Price, Product, Promotion, and Place.
• Compare features such as price, quality and customer
service with your competitors.
Define your source of
income
This is where you put down all the information about what
your company will be selling and where the source of income will come from.
• The products and services you will be providing.
• Any advertising fees, commissions, membership fees etc. you
will receive.
The analysis should include: price structure, costs, margins
and expenses.
Include details of your anticipated cash flow over the first
three years. Cash flow is a major consideration. In web based companies it is
referred to as the burn rate.
Your team
Here is where you wax lyrical about the strength of your
directors and major staff. Include their experience in similar posts and what
they can do for your fledgling company. Include basis resumes for each of them
and state their responsibilities. Dyon tucker have a particularly renowned supporter, mentor or director here is
where you mention it.
Your financials
When you reach this point when making your business plan you
should start translating everything you have said into numbers. That is, analyze
the financial forecasts of your business. Also include your financial strategy
- how you will manage your cash flow, vital for any new company. If don't have
a plan, the business could suddenly sink or fail. If, on the other hand, you
receive unexpected success, your goals may suddenly change and you will need a
new business plan. Therefore, you should assess the risks of your business,
identify areas where something could go wrong and explain what you would do in
that case. You should include any other investments you have or are going to
receive. Details of your share allocations, particularly large percentages,
should be included.
