When you plan a business investors are keen to know about the people behind the business.
Their skills and experience of the management team is vital to the success of the company.
your competitive edge is based on a propriety technology or process,
then it’s vital that you own patents and copy rights. Having experts in
the field that you are seeking to exploit will also go a long way to
proving your viability.
marketing plan is the key to success sound marketing plan is the best
assurance that a solid customer connection will be made. Within this you
need to detail your target market and how you are going to attract
people from that market , also how you are planning to deliver your
product to them what makes you different. Once you have attracted people
to you how are you going to keep them coming back for more? For any
plan to be credible it need to detail all these issues and how you are
going to over deliver on your promise supported by strong market
research to back up your claims.
In order to plan a business effectively you need to detail your operating approach, this includes such things as supplier relationships, inventory management and general day to day running of the business. Telling staff about the business plan, it may help in achieving your goals, as a rule staff do not see thing the way the owner or manager does, however if they see the plan and know where the business is going and how that will benefit them then they may feel more committed to achieving targets.
Sharing a plan can be tough thing to do for some people. Some people like to have a clear divide between managers and workers. But involving all your people will increase understanding and could even help write a better one.