ENTREPRENEURSHIP

In our continued series of writing a business plan, today I would like to lead you to the next stage and look into the remaining areas of a plan for your business. On board today is about business description and marketing plan. First let us look at business description. Here talk about ownership and history if any.State the business name,address, owner, when started and what nature of business is that. Let us know about your mission and vision statements. Where do you want to be in the next two or five years. Discuss such things as for example the amount of sales you expect to have, the number of employees, the products you will have, number of units you would like to sell, location of your business.State the business concept. Talk about products and services.State clearly your products or services.Under here, make known your primary customers, features and benefits of your service or products, what is the average prices of each product or service, talk about distribution procedure. State whether there is any impact your business has on environment. Talk briefly about the location of your business and your management team. Here also describe the necessary steps involved in producing your products, time line between production and development. Comment also on the need to your products/service in the market. State the competitive factors about your products and their difference supposing such products already exist in the public. Talk about barriers that may hinder you from launching your products in the market. Also bring your acumen forward by stating the analysis of your industry. Describe your industry, indicate the level of its growth and its competitiveness, mention trends for  example how changes in the economy are affecting the industry. Don't forget the describe how innovation and technological change is affecting the industry.         

P.S. Look out tomorrow for a full discussion on market plan.