6 Components in the Business Plan Outline Template
How to make a business plan outline template? So that your company runs as the expectation, a good business plan must be created and established. A business plan refers to a document that states the ability of a business to sell products or services with satisfying profits. In the outline template of a business plan, there are at least 6 components that must be included. What are they?
Creating a Business Description
A business description has a purpose to explain briefly what kind of business you will run. More than that, you can also mention the potentials of products as well as possibilities to survive in the future. In the business description, it is expected that all people involved will understand the direction of business development.
Planning Marketing Strategies
Marketing strategies are a very important component in business. All strategies to conduct must be developed from a marketing analysis. Meanwhile, the marketing analysis is known also as the strength to create targets or customers who will use your products or services. Currently, there are mainly 2 types of strategies you need to plan and develop.
- SWOT Analysis
It stands for Strengths, Weaknesses, Opportunities, and Threats. The analysis is done to know the strengths and weaknesses of your product. Meanwhile, the opportunities and threats must be acknowledged also whether from the inside or outside. With the analysis, you can apply the right strategies without spending too much time, energy, and costs.
- PEST Analysis
Currently, the SWOT analysis is not enough. There is also PEST analysis that stands for Political, Economic, Social and Technological. Create those categories and analyze them to make your jobs easier. You can also acknowledge more chances available inside. The point also helps you to perfect the purposes and profile of your company.
Analyzing Competitors
Analyzing competitors is conducted to know the strengths and weaknesses of your competitors in the same market. After knowing them, your company or business can create strategies to market products in a different way. Sure, it is also important to develop a better product than the competitors’.
Developing the Design
The plan of the design development is necessary to show steps in planning a product and the graphics of the development in the context of production and marketing. Aside from knowing further plans in the future, this stage also influences budgeting. That’s why; you need to do the development carefully.
Operational and Management Plans
Operational and management plans are created to explain how the business can run and continue. The operational plan is focused on the logistic need of a company. It includes various tasks and responsibilities of the management team. Further plans of budgets and spending are managed in this stage as well.
Calculating Budgets
The budget factor becomes a very important point in a business plan. Some aspects are included there; they are resources, how to manage money to be more efficiently used, and still many more. Some documents to prepare in arranging budgets are the financial plan report, cash-flow statement planning, balance-sheet planning report, and still some more. Make sure all of them are mentioned in the business plan outline template.
