Component Review

Back to: How to Write a Show-Stopping Business Plan Step-by-Step

Congratulations, you have completed the Business Vision component!

1. It was quite a long one and I’m sure got you thinking about your business idea in greater detail and with more clarity.

I hope, also, that thinking about your business in this way has got you fired up and ready to launch!

Review

Before you do that though, let’s just review what we learnt:

1. 1. 1. First, we looked at what your business idea was. We defined it as the “thing that keeps you up at night”, the desire to launch a revenue generating product or service, or that logical voice in your head that tells you its time to expand your existing business. We kept the statement descriptive, yet straightforward and concise.
      2. Next, we asked what puts you in the unique position to fulfill this idea? This important question answers why we feel we can bring this idea to reality by demonstrating our background, experience, expertise and authority.
      3. Then we asked, who are your customers? Focusing at the high-level at this point, we simply want to prove to ourselves, and anyone else who may be reading the business plan, that we have clarity around who our prospective clients or customers are; that we know where to find them; and understand their needs.
      4. Lastly, we wanted to know what our key business goals are. We learnt that creating a short list of key goals can help a new business stay on track during the first 1-3 years, help build a realistic business – and keep us motivated.  We also learnt that going through this process helps us get clear on our targets – even if not all the goals are applicable to the business plan.

How did you do?

If you followed the prompts in the course so far, you should now have completed (either in your notes or on your worksheet) the content for the Business Vision component for your business plan. It’s time to take a break before we move on to looking at Your Products and Services.