How To Write a Business Plan To Start Your Own Business


Welcome to How To Write a Business Plan
To Start Your Own business if you’re thinking of starting a
business you should know how to write a business plan it is usually observed that despite
having a great startup idea most businesses are not successful
according to common statistics within the first five years of operations ninety percent of businesses fail and of
the remaining ten percent only one of the ten businesses last past the first
five years so what makes some businesses fail while
others prosper there may be several reasons including
but not limited to or customer service poor logistics and cost management and
inadequate product but the major reason is the lack of a business plan business
plans help define goals and achieve them if you take out time to set concrete but
achievable goals and chart a plan to success it can help you realize your dream and
make your business flourish I have compiled an all-inclusive list of
areas that need to be considered while writing a business plan these will help you in defining your
goals and the path your business needs to take to achieve them step 1 defying your vision when you
start a business you have a clear goal in mind you know exactly what you wish to
achieve with your business however after some time the clarity of
your vision will become blurred and you’ll forget some of your brilliant
ideas writing down your vision for the company will help you to define it and moreover it will help your staff
identify with the mission all daily activities of the business can
then be aligned with your vision for the business this should be the first step of writing
a business plan step 2 set your goals and objectives for
the business never assume that your goals need to be
small to accommodate your limitations think big clearly define your short-term
goals the ones that you wish to achieve within
12 months mid term goals those that will take between two to
three years and long-term goals consider all aspects such as the revenue you wish
to generate number of i’ll let you on the number of customers you need in your
database the target population and age groups as well as the amount of passive
income that needs to be generated in future step 3 define your unique selling
proposition what is it about you that is different
from the crowd your unique selling point or USP will
make you more attractive to potential customers I was your product or service different
from others in the parkin it could be anything from additional services to
personalized customer service you can even offer them better after sales
warranty and support while writing a business plan you just need to highlight the extras
that your customers are getting from you to make your business stand out step 4 know your market it often happens that you have a
brilliant idea but someone else has already started a business with a
similar plan this is a very common occurs but you
should not let this start – how many petrol stations are there several
businesses can provide the same service and still survive as the market place is
huge and it can sustain multiple businesses but for this you should know
your market like the back of your hand research and find out how many
competitors you have what services they offer what are the current and future trends
of the industry no the larger picture are there certain
benchmarks that can be used to gauge your business performance such as gross
turnover profit margins etc once you know the inner workings of the market
you can manipulate them in your favor this is an important part of learning
how to write a business plan step 5 know your customer this goes without saying customers are
the most important part of any business and you should know the customers your
business caters to today customers are spoiled for choice and
they have thousands of options for every product so if you want them to buy your
product you should know what your ideal customer
ones this is the reason why you need to define your target populations and
research their habits while writing a business plan understanding the motivation behind
customers actions can make your business successful you can focus on the areas that grab
your customers interests and stop wasting energy on the rest put yourself in their shoes and then
think what would make them choose you each time write down the ideas and
implement them step 6 research the demand for your
business you must have studied the demand and
supply curve even if you have it it stands to logic
that there should be ample demand for your product find out the demands before
investing in a new business the basic rule is the man should be more
than supply if this holds true for your market your business will thrive but if
the demand is less than the supply your business will eventually die out so do your homework and gather as much
information as you can you can do a secondary search right from
your home over the internet or your Public Library you can even visit government offices
for this information but by far the best option is primary research for you
directly interact with your target audience to know their preferences and
how ready they are to buy your product so hit the road and note down all the
interesting ideas you get to increase the demand be smart and invest your life
savings only after ascertaining that there is a
demand for your product step 7 set your marketing goals so you have
finished the research and define your business vision the next step in writing a business plan
is setting out marketing goals these for those goals that define how your product
would look like what it will cost how you distribute it and the ways in which
you can promote it most businesses do plan this but they
neglect the most important areas you should set up measurable marketing
goals that will help achieve your primary business objectives questions
like the number of products yourself what will be your product development
strategy your price margins delivery methods and promotion plan should be
duly considered when you ask yourself these questions they will help to find
the goals for marketing your business step 8 define your marketing strategy now that you have your marketing goals
you need a plan to achieve them how many products you need to produce
himself and at what profit margin so as to get your desired revenue what will be your system of delivery and
your coverage area what will be the strategies to promote
your business the media that you will use be very specific as these will
translate to action and your ultimate success or failure plan for every
venture ality while writing a business plan this is a very vital step of writing a
business plan so acquaint yourself with it so that you can easily navigate
through each . step 9 take action and of course without action all else is
a waste this is the most important part of
writing a business plan you can plan all you want but unless you do the actual
work and bring customers to your storefront you won’t earn anything even
if you find that according to the business plan your idea isn’t viable don’t give up there are thousands of
other ideas out there and you can ultimately find one that suits you if you wish to be wealthy healthy and
happy there is a business waiting for you to
grab your business plan will provide the direction and focus but you will need to
take the first step writing a business plan isn’t difficult
if you know what you should focus on you now have an idea of what is important
and how you should tackle the task of writing a business plan and you are now
better equipped to start a successful business start your research today jot down all those brilliant ideas set
your goals the find a path and don’t let anyone
stop you now you know how to write a business
plan and the manager for success is in your hands make the best of it yeah yeah yeah

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100 thoughts on “How To Write a Business Plan To Start Your Own Business

  1. PROFITABLE BUSINESS PLAN WRITING TECHNIQUE – https://www.youtube.com/watch?v=gNFDoFBtSrk (2018 UPDATED) MUST WATCH IT…

  2. When people get their startup business on paper and ready to follow your dreams contact [email protected] He enjoys helping startups get the proper funding necessary to thrive in today's markets. Bad credit – no problem!

  3. There were so many graphics and movements. I even found it hard to follow through! Great content though ๐Ÿ‘

  4. ๐Ÿ”ฅ๐Ÿ˜ณ๐Ÿคช๐Ÿ‡๐Ÿฆ‹โ„๏ธโค๏ธ๐Ÿ’—๐ŸŒš๐Ÿ‘ต๐Ÿป๐ŸŒผ๐Ÿฆ„๐Ÿค ๐Ÿ˜ก๐Ÿ’ฉ๐Ÿฌ๐Ÿฅถ๐ŸŽถโœจ๐Ÿ’š๐Ÿคฉโ˜‚๏ธ๐Ÿณ๏ธโ€๐ŸŒˆ๐Ÿ‘Ž๐Ÿพ๐ŸŒŠ๐Ÿ’ฟ๐Ÿ˜˜๐Ÿ™„๐Ÿ‘‹๐ŸปโœŒ๐Ÿป

  5. Great step by step process to open business.
    Be inspired by checking my channel to learn more motivational insights and learn some tips to earn.

  6. The people that write a very complicated business plans often are the one that goes out of business. My advice your business plan should fit on a napkin. Create monthly business plans and adjust as you go. At the end of the day plans or just suggestion to yourself.

  7. https://youtu.be/ุงุญุชูŠุงุฌุงุชู‡ู…

  8. For you guys listening to this how to write a business plan. Your business plan should be able to fit on a napkin.๐Ÿ˜‚

  9. Start a business under the table. Use this to validate your concept. After 6 month to one year you see what direction your business going. The number one thing you must do continuous planning taking action and eventually you'll have an official business.

  10. If anyone wants to learn about working remotely or join a fun & active community, check out www.guavabean.com! We love helping freelancers & digital nomads find their dream jobs. ๐Ÿ’•

  11. Good information. Though โ€˜mantraโ€™ is maan-tra/mahn-tra not like Man (is in your hands ๐Ÿ˜‚๐Ÿ˜‚๐Ÿ˜‚๐Ÿ˜‚ that got me)

  12. Great content and advice here, if anyone wanting to get an apprenticeship and learn the essentials of UK governance, health and safety then check out The Proud Businesses Channel

  13. ๐Ÿ“šThis workbook has helped many people in the Netherlands startup their business โžก๏ธ https://gumroad.com/l/WUIZO

  14. I watched this 3 years ago and now I have a very successful business and have made over 2 million dollars, I am grateful

  15. This video is a good example from the get go why business' fail. Don't have blind faith and forecasts shit. This guy thinks you have money to burn on staff and outlets and a passive income needed to be generated in the future and some customer database. Imagine if all I wanted was to sell toffee apples or Lemonade or rhubarb. Although, If it's a product you make then I would recommend having a special editions and plough that profit into a massive production company that can churn it out. Get a price off them while you are making your special editions with your sore hands so you can cover the cost and never go bankrupt. And my greatest advice is…do it in a shed or unused room while your spouse works full time. Xx

  16. I like this video because it's easy to understand for even those who doesn't speak English that good. Me personally wanted to find some ideas for a school assignment that's not so worn-out, which this video doesn't cover. There are some ideas here: https://www.quora.com/How-does-one-create-a-business-plan and here if you are in my shoes: https://doksi.net/businessplan.php

  17. This was a very kind, informative, motivating and supportive video. Thank you.
    Signed: The world record holder in procrastination ๐Ÿ™๐Ÿผ

  18. I think this is the very VERY best advice and step by step I've seen. I've never could get this much information on any other video!

  19. I'm going to ask my best friend if we can start one together and learn along the way. We both have kind of a business mindset but haven't used it. So I hope he wants to or I'll do it by myself

  20. Can anyone tell me?… which software did he use to make this video as I want to share my knowledge using similar graphics.

  21. Remember the basic rule that the demand should be more than the supply because it is one of the most important things

  22. My company writes business plans across all 50 states and we've been uploading valuable information to our YouTube channel. Make sure to give us a subscribe. At the time of this comment our next videos gonna be on Financial Modeling

  23. Man, im not going t o lie, i watched a couple of t.v. shows at work " it was called under cover billionaire or something, something on the discovery channel or nat channel thingy", a guy who was already rich, told his story over and over on commercials, had a kid when he was 16, some how became a billionaire, and wanted to make a video or tortial of how kinda its done, he started of the show by sleeping in his truck (ater he lew from a yacht with his family to someunknown location so t speak ended p in some place with cold winters or windows that were made for winter type stuf in the past)… but in the show, he went to a place that was sorta like a librry, people who ant to start a buisness… i thught that was a neat idea.

    What kinda made is… you think about things in perspectives… ( i kinda laughed at the show, hen they said go to a bank, and get a loan flip a house idea) they did lots of difficult mainstream thngs in the show… lawyers? breweries, labels, holidays and marketing.. almost kinda lame. But i did like the idea of a libraby in a anyplace with people that have skills who are down to start a buisness company or grow…

    Heres my ideas.. i would like to create a study group, that studies to create a mediator type firm.. a little bit everythng….
    i like the idea, of having people that have real jobs… Yes there will be people with investment money, but lets say you work 40 or 50 hours a week have a couple of days off…i like that idea of us puttng money idea and buildings together, along with hiring people…. so you have nights and evenings or mornings to do work and meetings along with a couple of days, and all the contacts and influences from your job… i think about that sometimes or alot .. what i can brng to the table, be fully involved in.

    i remeber
    When I first got the mlitary.. i was surprised with freedom, or sorta weird kind that awesome.. I had become a man, on my own ha a honorable ischarge learned alot about the world..sorta… had money in the bank, a fresh start ( i joined the military living under my parents gaurd or rule so to speak, ent to military they became my parents basically), so fresh start ment, holy fuck i got money to do what i want, no parents or rule, can go anywhere i want, start or do anything… Some people say never quit… that means as soon as they start to finish, they add another finish line.. sorta like alaways etending the goal, with sorta maes you awesome, but tyou never finish and alaways have the same goal, and dreams, your dreamin while runnin basically. your burnin and smoking people who are doin the same things means winning, ina like attrition so to speak..

    (honestly i started writing, "what happend after directly after the military, and the even i was riding about escaped my mind , so i kept spit bawling and and writing you got or read what what i was thinking about shit the happend directly after, or the milititary type stuff.

    What i was thinkin about was my first part time job, when cash got low or close to low, and started thinkin bout how to get through creer pipelines, or pepare for it, becuase i like hving money… I found a job on craigslist, right down the road from me, internet sales that highes llege graduates or military expierence.
    – this story is important.. I got hired on the spot, basically, makes sense im worth a ton of money…( ive actually got get in the past hired on the spot on every interview, ever its happends with confidence and influence)
    – but this job was kinda important to thngs, it was the first tme i was hired, becuase of a proeffional resume or expierence. I felt good about it, the job sounded good.. Ineternet, technology,sales, room to grow, money on all the things you sale or gain, a small buisnuess. It as cold calls with your own cubicle computer, get paid by the hour, but ideas of good money re sorta in your head,percenatges, deals growing with company bg stuff, small strt up lots of cool shit.. basically you sell it to your family and friends when you get the job, its in a decent office…
    well Google is going to know what this job is better than i was or would.. But the idea was, sit there for 8 hours with a phone book, go through it make calls… there s no script other than we re selling better websites than had before.. with contracts in hand, including service such as going out and doing walk throughs of there company or inviting them in to have meeting. So i realy believed in it honestly i thought it was legit, and working there in sales.
    So my first month there.. i landed 5 people who owned buisneses.
    it went like this, i would go through the phone book, call companies and servces from auto companies lawn servces agengencies and other compnies. "hey im callng becuase i noticed you have no website in the phonebook (is something i would ust say), they would say, we have a website it is blah blah blah… i would say, well are you happy with your website, is working? if they yes or no, i would say, well what if we are in " your city, becuase we were and i wold say something local", we can get it where when google searched your name is up there on top three as part of it in the area, and redo your website, along with advertisments…
    – so 3 people said yes the first week, wanted to schedule a appointment to come out. (5 people said yes over the first month, companie owners, with exhistinant buisnesess and clental along ith checkbooks, but appoints where scheduled over the month).
    ——- Heres the story, it hought it was going to be like " FUCK YES, he got appointment or landed a deal, ( the appoinments ment they said yes and wanted us to send people out to do a walk through, along with buisness stuff, bascally means they can sign a contract we got a account or company thingy)… So when i got my first one, i remeber the lady and the guy who owned the building seemed more nervous, or unprepared than ecited and said lets go out and have a beer… instead they said good job sorta, the next day at work they said Tyler you coming with us to meet this people you spoke to… ( i was thinkin.. fuck, i thought i as going to work my way up into the position, yall are bunch of lamos that are just faking the whol fuching thing.. so i jump in the back of this bitches coralla, walkin into a car lot or autoshop, to sale this guy i spoke to over the phone..the walk through or contract… actually they said "they were bringing me along since i got the deal thingy, but when we got there nobody talked, they just put me in the front, i which point im like … wtf is eactly im selling, so i just kept selling shit. the company signed the contracts… ( by the way this happend with all 5 companies, including the one that pissed me off, or the deal the pissed me off, it was a landscaping guy i talked to, he had customers, had a 3 year servce plan with customers that signed up for over 3 years… year round… so he comes in hes unhappy with his old website.. brings in a check book, sits down at the table ith us.. nobody offers him anything other than what i sold him on the phone… and i truley thought it was real, i thought we had computer engeers, and there were going to be at the meetng to meet with guy to go over with website stuff and searthinies…, becuase this was the first office meeting that was in the actual office…

    Long story short i was litterly the only person who sold shit… the guy who owned the office and did the hiring never wrote me a paycheck so i left the office.. I called and email about bout my paychecks and commision.. he bullshited…. i went into the office un announed like a crazy person, and asked for my paychec like a normal person, the owner of the office guy said " well i heard you wrote on face book, since you thought you made so much money, you were going to quit working for a bit.. like on the clock,… or milk the clock… i said fuck you" So, i wrote a letter or a got letter wrote, then got a seal or stamp put on it, like it was offical or notarized or maybe actually notarized… the mother fucker called me that day and wrote a personal check and met me at librabry to pay me he actually asked me to come out to the parking lot, called me said can you come outside, from his jaguar he handing me a personell check complained about life in the buisness and how he as being fucked over… mother fucker got sued ten times over at that i put him on blast.

    But i did sell some shit, out of the whole expierence even though it was jaded expierences and believing in providing something real and getting hacked or shut down or used… i really did litterly get few imporant connects in 1 months, thousands of clients or patrons or whatever you call it in the past from those buisnesses…. just started int he past

    I really like the idea of having our own money… like theres no loans no banks.. just us having the use of all of them.. yes we may be renting. but what rent will become something people eventually want to pay us for us or almost immediately, , so a guy or person has 10k, he will put 4,500 hundred down, who can match it, is there 4 of us? what buisness do we want to start and how many buildings do we need to rent,(yea we all got jobs or careers, were building it, artist an pain and people can take pictures hoping a contest winner will give them 180 dollars to accept a picture and pay for it, or painter get 300 dollars for them to get a spot to, how many of them can we use, and how many people a family members will they tell they just became profetional, (we can actually higher them ull time i there good at itin the past) in the pot
    TGB the way i mean it

  24. ู…ู…ูƒู† ุงุนุฑู ูˆูŠู† ุทู„ุจูŠุŸุŸ ุตุฑู„ูŠ ูฆ ุงูŠุงู… ุทุงู„ุจุฉ ุงู„ุทู„ุจ ูˆ ู„ู‡ู„ุฆ ู…ุง ูˆุตู„ู†ูŠ… ุฎุฏู…ุฉ ุณูŠุฆุฉ ูˆ ุชุนุงู…ู„ ุณูŠุฆ ูˆ ุฑุงุญ ุงุฑูุน ุดูƒูˆู‰ ู„ุญู…ุงูŠุฉ ุงู„ู…ุณุชู‡ู„ูƒ ๐Ÿ˜ ๐Ÿ˜ ๐Ÿ˜ ๐Ÿ˜ ๐Ÿ˜ ๐Ÿ˜ ๐Ÿ˜ ๐Ÿ˜ ๐Ÿ˜ ๐Ÿ˜ ๐Ÿ˜ 

  25. Interesting fact: APPLE ( Steve Jobs) has applied none -zero – of these advices and they are one of the best and most powerful brand nowadays.

    If you have a vision, a great idea, just go for it! You will figure out everything else down the line! Keep things simple. This 8 minutes video can help you out, but as I counted it's between 4-8 hours work to do it. And you need to know a lot of things upfront to start a business plan. I don't subscribe for that. I have a couple of successful small businesses and the most critical factor is just the TAKING ACTION factor. Do the work, rather than sitting and planning. You can plan later whenever you already figured out – in real life- who is actually buying your product, what problems they try to solve etc. You can sit and figure it out but it's usually not precise enough to use that "data" for FB ads or just writing a simple copy which connects with your target audience. If I had to do a business plan back then I would start with the vision, followed by the potential barriers on the way and how to avoid them and then just create a project plan, schedule what to do and when and go! Everything else will be OK if you are persistent enough and if you believe in your vision. Sometimes a business planner is a helpful tool on your journey. I use the ifocus business planner and it was the best $30 I invested in my business. It help me stay on track, be more organized and know exactly what to do for my business on a daily basis.

  26. I have failed loads of times but now I make 693 buks a day thanks to this incredible website here MyEas yOnlin eJobs .c om

  27. without plan there is no success nice this is how i became a millionaire by these businesses trading stock, real estates, pavil conrad trading platform, and uber investments .

  28. PLEASE could you make a video about administration side of a small business. All videos show everything else. I struggle to get my office and sequence of administration functions to run smoothly. I'm missing something and frustrated, feeling like writers block. Thanks for great content.

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