by Art Piccio . July 8th, 2014
Guy Kawasaki’s business plan process is one of the more popular methods, but it’s not the only way to do it right. Regardless of the length, or whether your plan is intended to start a new business, introduce a new product or service, or a shift in strategies, all successful business plans share similar features.
Washington State University’s MBA program created this infographic outlining 10 Keys To a Successful Business Plan. We hope this helps readers. Opposing views and other insights are encouraged in the comment section below!
1.) Identify the need your business fulfills
2.) Clearly describe how it fulfills this need
3.) Recognize how your business is unique
4.) Name your key stakeholders
5.) Know the size of your market
6.) Know who makes up your target market
7.) Devise ideal promotions strategies
8.) Break down your revenue streams
9.) Budget the money you need to get started- and keep going
10.) Create a plan for getting even
The U.S. Small Business Administration – Create Your Business Plan!
WikiHow – Write a Business Plan
Entrepreneur – Business Plans: A Step-by-step Guide
What other Business Plan tips can you share? Comment below!
Arthur Piccio manages YouTheEntrepreneur and has managed content for major players in the online printing industry. He was previously BizSugar's contributor of the week. His work has appeared multiple times on The New York Times' You're the Boss Small Business Blog. He enjoys guitar maintenance and reading up on history and psychology in his spare time.