I intend to create a flexible business plan that has the
ability to adapt to the forever-evolving social media market, which is what my
business is based on. I will do that by doing reviews monthly and assume what
can change. One specific change that I
made to my business plan is rethink my marketing analysis because before it was
mediocre and now it goes into full detail on how I plan to market my services.
The sections of a business plan I consider to be the most
important is the executive summary and marketing analysis. The executive
summary briefly explains to the reader that your company is about, the
company’s current status, where you would like to take it, and most importantly
the reason why your business idea will be successful. For those that are
seeking financing, the executive summary is your first chance to reel in the
attention of a potential investor. It’s a good idea to write the executive summary
last because it should spotlight the strengths of your overall plan. Although,
it’s the last section that you write, it should appear first in the business
plan.
The second most important would be the market analysis
because without a concrete plan to increase sales your business is have some
setbacks and not perform well. You need a plan for which you’re selling the
product or service to, how to introduce it, determine pricing and do research
on your competition.
