Entrepreneurs • Business • African heritage • Africa

3 Things to Focus on when writing a business plan

11 Jul, 2018 • by Fashionomics Africa
3 Things to Focus on when writing a business plan
Fashionomics Africa

We all know that no 2 brains are alike in the world we live in. Some of us are better at math, while others have a greater ability at creative arts. Some of us like socializing, while others prefer being alone most of their time. While no one personality is better than the other, it is important that you learn how to manage you deficiencies, and exploit your positive characteristics. If you are an entrepreneur that has a fashion or design business, chances are, your personality is more on the creative side. It is extremely rare to see a creative mind being great at numbers as well, and if you have both talents, congratulations to you because this is something most people struggle with. If you are like most, and have a great company with gorgeous designs in your hands, but struggle selling it, then this article is for you.

When you own a startup, you must be aware that not only the quality of the product matters, but how you sell it is essential as well. The first thing you must do in order to be prepared for meetings, investors, and growth is creating a business plan. If you still haven’t heard about one, a business plan is basically a document that holds the guides to what your business is about, it’s goals, and details. While this may seem broad, there are several things that a business plan MUST have, and today we will share 3 of them.

1. Who are your customers and what are their needs? This is something that must be extremely clear from the beginning. If this is not the case, you may lose focus and time, and the message that customers get while visiting your website/store/ or information may be confusing. Make sure it is extremely clear who the ideal customer would be and why they would benefit from buying from you company.

2. How are your ideal customers solving their issue today and what’s your competition? In order to answer this, you may need to do a market investigation, and this can open your eyes on who you will be competing with. It has to be clear on how and why you would differentiate from the rest, and why they would choose your brand and solution to what they currently have.

3. What is your short,medium and long term goals? This will give the impression that you have a clear plan on how to grow and are taking into account possible challenges that may occur. Try to be realistic and stick with goals you are likely to achieve so that you don’t lose credibility or motivation.

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