Writing a business plan, forcing on the market and finances
– The Market
Market analysis: How have you identified this opportunity and tested its need in the market? Include a
Strengths, Weaknesses, Opportunities, Threats (SWOT) analysis which maps the internal and external
factors that the business must address, in particular identifying competitors or existing market
Target market: Who are you selling to? Why would they buy your products/services over others? What
is the anticipated demand for your products/services?
Marketing strategy: How do you plan to enter the market? How do you intend to attract customers?
How and why will this work?
– The Finances:
Estimate what finances were needed to start the business and are needed to make it successful in the
future. That is, what were the likely costs in launching the business and what are the ongoing costs in
running the business now and as it grows?
- Identify, list and estimate the likely costs needed to launch the business
- Identify, list and estimate what the ongoing costs are to run the business now; and as it grows, 3, 5
- Suggest how the business will finance its growth i.e the type of investment or funding sources
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