Things to Consider When Creating a Business Plan

May 10, 2021


Things to Consider When Creating a Business Plan

Posted in : Business Advice on by : Josh

One very important step in the process of developing a business or project strategy is, the creation of a business plan. A successful business plan will thoroughly document the objective/s and how these goals will be accomplished.

Business Plan Considerations

1. Research- the most important thing before creating a business plan is research into the area, what has been done, how and how it could have been done better
2. Competition- who are your closest competitors, what are they doing right or wrong, what could you offer that would make a customer choose you over them
3. Brainstorming- think about all of the risks and opportunities, known and unknown and ways to mitigate risks
4. Stakeholders- think how this project or future enterprise will affect any stakeholders
5. Resources- consider what resources (including team members) you have and what you would need

By taking the time to first consider all of these items, it will be beneficial to your business plan creation.