Module 3: Create My Business Plan
When this module is complete, you will have a finished business plan that you can use to make your business a reality. You should complete a full business plan, whether or not you are seeking funding so you can assess the risks and benefits of your business idea.
In this module, you make preliminary decisions at each step. Since each step remains open to you, you can return to the previous step and adjust your choices as new information or ideas occur to you.
Business Plan Overview: This section contains a thorough discussion of all the parts and tactics for you to use in completing the business plan.
Operational Design: You determine the details of your business model and how it will make money. This is necessary to be able to create your financial projections as you will determine the number of people you need to work with you, the prices of the items you sell as well as a rough idea of the expenses you'll incur.
Financial Models: You will create your financial projections in this section. You will continue to adjust these throughout the creation of your business plan but it is important that you begin to establish the projections early so you can change your business model, if needed, before you are emotionally committed to it. We provide all the templates you'll need.
A fully documented case study, including instructional videos is part of this module to provide even greater understanding.
Note: For those needing assistance only with building their financial projections, the financial models section, along with the organizational design section, are available for purchase separately.
Industry Research: In this section you determine your NAICS code, used by banks and the government to classify your industry. You will research the local, state and national trends for your industry as well as the legal environment it operates in.
Customer Identification: In this section you will focus on who will purchase your product or service. This section will take you through the demographic and psychographic qualities of your customer allowing you to target them more accurately when you develop your marketing plan.
Marketing: Taking the information developed in the previous sections you will create a marketing plan. You select sales goals and a strategy and then move on to selecting the appropriate tactics to realize them.
You will also identify your competition and how you will deal with them.
Organization Plan: The details of the types of employees, their job descriptions, how much you will pay them and the personnel structure of your organization are described here.
Executive Summary: The most important section of your business plan is left for last. The executive summary is the hook of the business plan and must grab the attention of the person reading the document. In this step, we provide guidance on how to write a memorable hook and things to avoid when writing the executive summary.
Document Assembly: In this last stage you pull together the document along with any illustrations/diagrams/photos and a complete table of contents.
Forum: Your subscription gives you access to the e2eNOW forum. Not only will you be able to share with others, learn about changes and additions to the program, but you will also be able to have questions answered by e2eNOW staff, who have decades of business experience. This feature alone is worth the cost of a subscription to e2eNOW!