Start-up Business Plan

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Start-up Business Plan by Mind Map: Start-up Business Plan

1. Format

1.1. Executive Summary

1.2. Company Description

1.3. Industry Analysis

1.4. Market Analysis

1.5. Marketing Plan

1.6. Management Team and Company Structure

1.7. Operation Plan

1.8. Product Design & Development Plan

1.9. Final Projections

2. Executive Summary

3. Market Analysis

3.1. WHY Important

3.1.1. Define nature of Business

3.1.2. Affirm: Company has a Well-thought-out Target Market

3.1.3. Understand customer and generate Sales

3.2. Step 1: Market Segmentation

3.2.1. Definition: Process of dividing a market into distinct subsets which have the same needs

3.2.2. Segment market by: Geography Demographic Variables Psycho-graphic Variables Behavioral Variables Product Type

3.2.3. Can segment more than one dimension

3.2.4. Criteria for a successful market segmentation: 1.Homogeneity within segment 2. Heterogeneity between the segments 3. Small differences within the segment 4. Distinct 5. Possible to determine the size of the segment 6. The segment -large enough to be profitable

3.2.5. Selecting a target market

3.2.5.1. Best Prospects for Entry

3.2.5.1.1. Sales Growth and Profitability

3.2.5.1.2. Consistent with Founders’ Passion: Why we start up

3.2.5.1.3. Core Competencies: what we good at

3.2.5.2. Mistakes:

3.2.5.2.1. Too Broadly

3.2.5.2.2. Target More Than One Segment: Best quality or Cheap

3.2.5.3. Goal

3.2.5.3.1. Become Expert in Specialized Area

3.3. Step 2: Buyer Behavior

3.3.1. Why Will Target Customers Buy? Motivation to Solve a Problem

3.3.2. Who Makes Decision to Purchase? Individuals or Groups?

3.3.3. Length of Buying Process? Steps in Approval Process Buyer’s Need for Information

3.3.4. Degree of Involvement in Purchasing Process

3.4. Step 3: Competitor Analysis

3.4.1. Purpose

3.4.1.1. Understand Positions of Major Competitors

3.4.1.2. Opportunities Available to Gain Competitive Advantage in One or more Areas

3.4.1.3. Tells Reader You Understand Competitive Environment

3.4.2. Define SWOT

3.4.2.1. STRENGTHS

3.4.2.2. WEAKNESSES

3.4.2.3. OPPORTURNITIES

3.4.2.4. THREATS

3.4.3. Determine Competitors

3.4.3.1. Direct

3.4.3.1.1. Similar Products or Services

3.4.3.2. Indirect

3.4.3.2.1. Close Substitutes to Yours Coke vs coffee, milk, tea

3.4.3.3. Future

3.4.3.3.1. Businesses that Could Move into Direct or Indirect Competitor Roles

3.4.4. Competitor Analysis Grid

3.4.4.1. Definition: Tool for Organizing and Presenting Information About Competitors

3.4.4.2. Lists Primary Sources of Competitive Advantage and Disadvantage

3.4.4.3. Our Firm Must Have at Least One Key Success Factor

3.4.4.4. Helps to Fine-Tune Your Product Offering

3.5. Step 4: Estimate of Annual Sales and Market Share

3.5.1. Premier Trade Association

3.5.2. Comparable Firm: The best way

3.5.3. Conduct Internet Search

3.5.4. Multiplication Method