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After you have completed your market research, defined your purpose, and created a clear value proposition for yourself, you are ready to build your business blueprint. A Business Blueprint provides your business venture with an actionable roadmap leading to success. Within the Business Blueprint, also known as a business plan, there are eight components.
8 Components of a Business Blueprint
Executive Summary – Kickstart your business blueprint by hitting the highlights of your business plan. Explain to the reader what makes your company better, different, or special. Within this section, you will include your company’s mission statement. As a critical element of your executive summary, your mission statement becomes a summation of your overall business strategy.
Business Description This section will provide a more in-depth look at what solutions your company offers and gives more specific details. In addition to breaking down your product or service piece by piece, you will also provide insights on who your target audience is. Before building your business blueprint, you must complete your extensive market research. This is where you will expound on your findings.
Market Analysis Market Research is crucial in developing your business strategy. A few key elements to highlight are the competitive environment, situational analysis, and SWOT analysis. For assistance with your market analysis, check out our Marketing Services.
Organizational Structure In this section, outline how your company will operate. Who will be the person making the critical decisions? Is your business a partnership or a corporation? Within this section, you will establish the legitimacy of your brand. Incorporate your business by registering your company for an employer identification code. By incorporating your business, you are taking your business in the right direction. But make sure you do this process right. Even with simple mistakes, there can be significant legal ramifications. Of course, there is always the option to do this yourself, but we suggest letting the pros help you incorporate your business.
Service or Product
Once you have outlined the industry’s landscape, you are ready to hit them with the solution. Explain what you are offering to consumers and establish your product as the pain point solution. Talking about your product or services may spark a conversation to discuss disclosures for your product or warranties. Prepare for these difficult conversations and brush up on legal jargon. We highly recommend you check out our legal consulting services to sure all your bases are covered. Whether you are seeking out resources on legal consulting services or hiring an expert, BuildABiz has the tools you need.
Marketing And Sales
Explain how you will market your business and make sales. Will you have a company that is entirely e-commerce, or will customers have to find your product at a chain brick and mortar store? What does your buyer’s journey look like? How will you find your customers and get them into the sales funnel? Establish your plan for that here.
After establishing your brand as a necessity to resolve an existing problem in the workplace, you outline your financial projections for the next 3-5 years. For startups seeking funding, this section is crucial in presenting thorough and accurate data. That’s why you may consider hiring an expert in the area of finances. Check out our financial consulting services to learn more.
Summary – Wrap up your pitch for funding and provide any supporting documents that will wow your audience. Prepare, prepare, prepare. In addition to having a well thought out business blueprint, it is essential to have ensured your business is legitimate. Having a well thought out business blueprint will put you ahead of your competition. Start writing your business blueprint today with BuildABiz!
Get Started On Your Business Blueprint
Whether you are new to the business world, or just want an expert’s advice, BuidABiz is here to help. Check out our resources for helpful links. Or better yet, get in touch with our expert pros today. We can teach you how to successfully start a business. [email protected]