Significant initial research
The author of a business plan must analyze the environment in which he expects to work at all social, industrial, market, and corporate levels (see pages 51-60). This design phase, an essential initial study, is a necessary first step to better understand the trends and decisions you make affecting your business so that you can lay the foundation for it and increase your chances of success.
In some cases, much of the necessary initial research needs to be included in the evolving business plan as a separate part in itself so that readers understand that there is a market need for that company and that it is likely to be activated. very.
In other cases, the business plan is stronger if parts of the original key research are distributed across the business plan to support the plans and strategies presented in the business plan. For example, a large initial research industry or market segment could outline the pricing strategies used by identified competitors that best fit into the pricing strategy of the business plan to assist in the decision to use a particular pricing strategy.
Any business plan includes a description of the business model that the entrepreneur has chosen as the model from which he or she best ensures success. Based on their basic basic research on the environment in which they are expected to start their business (first stage analysis), the entrepreneur must determine how each component of their business model – including revenue streams, cost structure, customer segments, value propositions, key operations, key partners, etc. – can work together to improve their business. Chapter 4 – Business Models).
For some types of companies, an entrepreneur can create a lean startup at this stage (see page 68) and grow their business by constantly changing or adapting their business model based on the real-time signals they receive from market responses to their company. In many cases, however, the entrepreneur needs a business plan. In these cases, the original business model is the basis of this plan.
Of course, the entrepreneur must constantly and throughout the process constantly strive to gather information and adapt his plans to the new information he receives. As shown in Figure 8 of the Annex to the Progressive Research Framework, the business plan developer may need to conduct additional research before completing the business model and moving on to the original concept of the business plan.
Original design of the business plan
The concept phase of a business plan involves the transformation of the information and ideas developed in the first two phases into a business plan format. One approach that many prefer is to create a complete concept for the business plan in all sections, including the front with a business description, vision, mission, values, value propositions, preliminary goals, and possibly even a table of contents and tables. and numbers, they have all the software features that allow automatic creation. Writing all operational, personnel, marketing, and financial plans as part of the original draft will ensure that all of these elements can be included correctly and necessarily. A business plan tells you how to set up a planned business in two ways, mainly words and some charts and diagrams in your operational, personnel and marketing plans, and another way through your financial plan. Both paths must tell the same story.
The feedback loop in Figure 8 indicates that the business developer may need to review the business model. In addition, the developer of a business plan, as indicated in his case in the context of a progressive study, must carry out further research before the first stage of drawing up a business plan and move on to making the business plan realistic.