If you can’t pinpoint a problem that your potential customers have, then you might not have a viable business concept.
Once you have described your target market’s problem, the next section of your business plan should describe your solution.
Investors look for great teams in addition to great ideas.
Use this chapter to describe your current team and who you need to hire.
Accommodate your investors, and keep explanations of your product simple and direct, using terms that everyone can understand.
You can always use the appendix of your plan to provide the full specs if needed.You can skip the executive summary (or greatly reduce it in scope) if you are writing an internal business plan that’s purely a strategic guide for your company.In that case, you can dispense with details about the management team, funding requirements, and traction, and instead treat the executive summary as an overview of the strategic direction of the company, to ensure that all team members are on the same page.Perhaps they need to target athletes or business people who need formal shoes for work, or perhaps they are targeting children and their families.Learn more about target marketing in But if you selling to other businesses (B2B), you may have a few key customers that are critical to the success of your business, or a handful of important customers that are trend leaders in your space.Writing a business plan may seem like a big hurdle, but it doesn’t have to be. For that reason alone, writing a business plan and then leveraging your plan for growth won’t be nearly as challenging as you think.The rest of this article will delve into the specifics of what you should include in your business plan, what you should skip, the critical financial projections, and links to additional resources that can help jump-start your plan.Who else is providing solutions to try and solve your customers’ pain points?What are your competitive advantages over the competition?Investors will want to know what advantages you have over the competition and how you plan on differentiating yourself..Competitors may not always come in the form of “direct competition,” which is when you have a competitor offering a similar solution to your offering.