by Janette Braverman-CEO | May 9, 2023
Write your company’s Problem Statement and include up to five problems your company will solve.
Write your company’s Solution Statement and list up to five solutions that will solve the aforementioned problems.
After completing these sections, update the designated sections in your business plan in LivePlan.
Note: It is best to have this information documented in advance so that you have ample time to think through your statements prior to uploading them in LivePlan. Although, you’re welcome to enter the information directly into LivePlan and then make updates along the way.
Refer to example business plans in LivePlan as needed.
https://samples.liveplan.com/?
by Janette Braverman-CEO | May 9, 2023
Write and submit your Company Overview section and update your business plan in LivePlan. Be sure to include all of the elements needed to ensure a comprehensive overview.
Refer to the business plan examples in LivePlan if needed.
https://samples.liveplan.com/?liveplanuser=164703207896cdc6f7bfb5f758504ff0ddc4aedf89
by Janette Braverman-CEO | May 8, 2023
Write your Sales Plan and update this section within your LivePlan business plan.
Explain how you plan to sell your products or services. You do not need to cover marketing activities here — that is, how you are going to attract potential customers. Focus instead on how you will turn those prospects who express interest — the people who visit your store, who sign up for your newsletter, who ask for an estimate — into paying customers. Be sure to include payment methods you accept and any order tracking tools you are using.
How will you nurture leads to get them ready to close?
What kind of staffing do you need?
Do you have a commission structure? Sales territories? Quotas?
Describe any key sales activities that you will use to build and maintain your sales pipeline, such as prospecting calls and emails, networking events, trade associations, existing customer followup, thought leadership, referrals, and more.
by Janette Braverman-CEO | May 8, 2023
Describe the major components of your marketing plan and complete the Marketing Plan section of your LivePlan business plan.
- What kind of marketing activities will you use to attract customers?
- Do you plan to invest in signage, physical or digital advertising, email newsletters, search engine optimization, social media outreach, TV or radio commercials?
- Have you developed a logo and branding?
- Choose the activities you think are right for your business, and make sure the related expenses are included in your forecast.
If you plan on advertising, talk about your messaging. What is the unique value proposition or selling point — your pitch — that you expect to resonate with potential customers? Talk about how that pitch positions you relative to your competitors. Are you the no-frills, low-cost option for budget-conscious shoppers? Or a premium product that is superior to the others in a key way? Or are you differentiating yourself in another way — being faster, more convenient, better for the environment, locally sourced? Make sure this is aligned with the competitive advantages that you described in the Competition section.
Describe your distribution and pricing plans.
How will your customers buy your products or services?
Will they pay you directly, either in your store or out in the field?
Will they buy what they want on your website? Or through other retailers, distributors, or resellers?
Are your customers the people actually using your products or services, or are you selling to other companies who are incorporating your solution into their own?
What will your customers pay, and will those payments be one-time purchases or an ongoing arrangement?
If you need to add additional topics to this section, feel free to do so.
by Janette Braverman-CEO | May 8, 2023
Complete your business pitch in LivePlan using all of the components of your business plan. Previously compiled financials will be fed into your business pitch. Although we will begin and walkthrough this assignment during the course, note that you will have ample opportunity to make updates and or modify your pitch since you will have 6 months to access your company’s plan.
