How to write a winning and best business plan - Venture care How to write a winning and best business plan - Ve | Page 3

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Is it the standard product or customized one?
If it is standard product and any customer wishes to add some more features then is it
possible?
Whether IP has been taken on the product?
How product maturity shall be tackled?
What will be the R&D cost and maintenance to the business?
Industry:
Industry dynamics always change. A business plan must include the probable changes and the way
to overcome those changes. Key success factors should be identified and should be mentioned that
how the company will go forward.
The complete industry should be categorized into segments and sub-segments and accordingly, the
customers should be identified. This section must include also:
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Who are the targeted customers?
What is the size of the targeted customers?
Who are the competitors? (in numbers)
What is the expected market share for this product/service?
Marketing:
Many business plans usually say that what marketing channel shall be used to market
products/services. But a sound and explanatory business plan should clearly express that HOW
MARKETING WILL BE DONE, WHICH CHANNEL SHOULD BE ADOPTED AND THE EXPECTED
TANGIBLE BENEFITS WHICH THE COMPANY WILL DERIVE FROM IN TERMS OF GROWTH OF
CUSTOMERS.
This section should answer the following also:
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Why the customers will need it?
How the potential customers can be reached?
Can the customers manage their business operations without this new product/service?
Does the price (cost to the customers) of the product/service justify the benefits?
Threats:
No business can avoid threats. It should be mentioned that how the possible threats should be
handled. Answering the following questions may be beneficial:
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What could be the potential threats?
How frequently it can come?
What will be the level of impact of the threat to the business?
How the company will overcome it?
Financials: