Questions a business plan should answer.

[Sammyesx]

A business plan is like a road map, a guide written down that outlines the aims and objectives of a business. The following are the questions a good business plan should answer:

1. What business are you into?
2. What does your business needs to get off the ground?
3. What is the operating budget?
4.who are your customers?.
5. How will you reach your customers
6. What sets you apart from the competition?
You can also add questions you think a business plan should answer

 

[Ephy]

A business plan is should explain itself anyone who reads it must be able to understand then need of the business in the society and why it is a important for it to exist. It should indicate what products and services the business are dealing with in the market. It should also indicate the group that is targeted for example selling of toys here group targeted are small children. Also if the business is a short time or seasonal business it should indicate the specified period. Also it should indicate its strategies that the business is going to use in order to attract more customers and expand the business or make more profits. It should also identify the type of labour needed for example human labour or machinery.

 

[Seyesystem]

Every business must have a good business plan which will includes how the business will operate.In starting a new business the owner the owner must plan his business very well so that it will not fail. Before going into any business you must do your through findings which includes feasibility studies about the business whether it's viable or not, also the profit projection for at least 3 years must be done. This will enable the entrepreneur to make his decision whether to start the business or not. Some of the questions that a business plan must have are: targeted market,what kind of product to offer, financial projections, feasibility study and business environment.

 

[Alexandoy]

You are right with the road map comparison to a business plan. It should be complete with information about all the aspects of the business. First is the name and location followed by the nature of business and the description. As much as possible there should be the mention of supplies and suppliers plus the prospective demand. As you mentioned about the question on reaching the customers that is also important. We call it prospecting chore to find new customers whether for a new business or an old one.

 

[Holicent]

Owning your own business is a great way to make money. But investing in one is a whole different ball game. If you're interested in investing in a startup, there are some things you should consider before making any moves. These are business plan and strategies, they should answer questions like:

What kind of product is it? Is the product revolutionary? Does it have the potential to make money and be sold easily? How much money do you need to invest, and how much will you get back if the company does well?

How much money do you need to invest, and how much will you get back if the company does not do well? What's the timeline for when you'll see returns? Are they realistic projections, or is this an impossible dream?

Is there a market for your product or service, or are you just trying to create one from scratch with no guarantee of success anytime soon? Be sincere to yourself, you might not have answers to all these questions by yourself or as soon as you start, but you should have at least sincere answers to 79% of it. You can do consultations too. Don't waste your money while you know you are going to waste it.