Designing a creative plan is the cornerstone of creating a business plan, and most likely, if you start it right, it will become your mainstay for continuing this work domain and ultimately you will reach your strategic goals. We’ll show you an easier way to start creating your business plan, with smart key steps that should not be daunting to achieve its goals.

So, what is the business plan?

The business plan aims to walk your business in the right direction and document your ideas and business visions. It is a structural tool that can keep you and your team on track. The first purpose of the Business Plan is to define the business aspirations. Secondly, we must answer the question “Are these aspirations possible for your current economic situation?” Thirdly, your business plan is a necessary tool to identify the steps you will take to reach your main goal. When you start making plans for your business, it takes your entire mind to put it all together first, then start wiping out the wrong parts. Do I tell you something clever? Think of your business plan as a book of your own.

You know the end “the goal”, but now you have to include the method and stages you will reach to this desired end. You will need to be able to deliver this business plan to investors, partners, banks, lawyers, etc., so it is important to maintain a specific vision. But because we are in a creative field, do not be afraid to play with planning and colors, but do not make the ideas of madness! Make it readable, clear and professional to the extent of being achievable on the pitch.

Key Elements of the Business Plan

1. Executive summary

   A short one page of your business. It includes the background behind your work, your job, your vision, your logo, and your message. Keep it short and aim straight. The rest of the action plan will go into more detail.

2. Target Customers / Ideal Clients

   This is where you will explain who is targeting your business, who are ideal clients; their personalities, what they love to do, how old they are, what level of income they have, and what they are willing to spend on your products and / Or services. The questionnaire is definitely a good idea to help gather information about your ideal customer.

3. Competition / Competitive Advantage

   This is where you will determine who your competitors are, what their strengths and weaknesses are, their business structure, your competitive advantage, or what makes your idea better and different from their ideas.

4. Human Resources

   If necessary, this is where you will document the data you need to manage your business, the skills you need, the amount of experience they have, the amount you can pay, etc. This section is a duty to put into your business plan, and when the time comes to add new employees, you will definitely add this section to your business plan. It would be wise to add a description of the trainees here if you plan to enroll trainees soon. This will lay the foundation for what they will be responsible for.

5. Vendors

   This is where you will determine which external sources will be necessary to manage your business. Are there any products you should purchase weekly (accessories, papers) or are you using certain products for your customers (USB drives, cards, chargers, boxes, packaging materials)? Put all these items here and their costs, and what category falls under (supplies, customer gifts, packing/shipping, etc.). You will need this financial plan later on, but this section will explain in detail all the costs.

 

6. Marketing Plan

   Will show you how to get your products and/or services in front of your ideal customers. What are the files of the social media platforms of them? are they bloggers? do they read a specific blog? do they attend conferences? All these things will help you know where, when and how to find your ideal customer. Your marketing plan is actually a very different document from your business plan, but putting general ideas here is very important.

7. Operations

   This is where you document how to accomplish the task in the most effective way. What is your routine for your projects? What is your order since the first time you talk to the client, and when the final product is delivered to him, describe your operations as if you were teaching 5000 people how to work in your company, Trust everything!

 

8. Financial Projections

   This is where you will determine the amount you need to open/manage your business and where you will get the money. Most creative companies are able to start their businesses with smaller budgets because they tend not to need real estate. Set your financial expectations here, how many products do you want to sell?, and how much does each of your products cost?, What is the annual total? How much did you spend on supplies? What is your profit for the year? You want to be able to convince an investor of why and how your business will make money, so be realistic.

Get in touch with BrandsCave’s team to learn more about designing creative business plans!