By: Jamahl Hokstam
Starting a business plan can seem difficult.
Are you looking to write up a business plan for a new company or a current business that may need a refresher. This sample business plan will provide you the information you need and may even put you a step ahead of the rest.
Naturally in order to complete this business plan, we needed to select a product / business. The business we chose to write our mockup business plan on was Sanex, a Dutch company that specializes in the sales of body wash and skin care products.
To start out,every business plan needs a headline,here was ours.
The purpose of the headline is to draw in the reader with a few yet carefully selected words.
“Now available available in the US…Sanex”
“Discover the largest and one of the most important organs of your body and find out how Sanex works to keep it healthy, down to each and every cell.”
Do you know the purpose of your business ? Do you know what the business is willing to stand for ? If not then this simply means, it’s time to pay attention to your business mission statement.
Mission statement simply means the motto of your business.
Here’s our sample mission statement “ Here To help each and every one to have healthy skin, every day”
Now that we’ve got those steps out of the way, it’s time to promote the product.
Strategic brand market positioning (STP) simply means who’s your target and how you are distinct from your competition.
Here’s how you break down a Segmentation also known as brand ladder.
First pick a target market ( age , gender , etc.) to start off with, but do not have to stay limited to this market you can further narrow this down by going into Demographic segmentation. This segment collects details such as Age , gender, race, marital status , income, education, occupation)
The second segment to focus on is the Psychological segmentation – with this segment you want to ask yourself this question; what’s the personality type of my target market, what’s their lifestyle?
Having all this information prepares you for the benefit segmentation, which serves to focus on convenience, security and pleasure.You must always prioritize your target market – check what you are able to deliver easiest & check the size of your starter target market with the least competition in it
Let’s give some attention to your SWOT. This represents the strengths, weaknesses, opportunities and threats.
If you don’t already know this information you can follow along and the answers will come to you as we continue.
Having completed all of this now leads you to narrowing down your exact target market. You can start by asking these questions: Who is this product for ? And what’s the average personality type of this demographic?
For our sample product this is what we put together. The products we were promoting are environmentally friendly and most importantly are also good for the skin. So the market for these products naturally fits those with Sensitive skin who are globally aware. You also need to pay attention to the age range of your target, our target market is unisex Men and women 40
Time to give some insight to the brand. When it comes to this portion, you need to focus on truth /need/ friction or what the consumer thinks of the brand.
For our example, we focused on people who preferred healthier choices. We are also focused on people who need radiant and soft skin. Many of our customers are looking for a brand that offered both healthy skin, cleansed, and was sensitive towards the Ecosystem.
Let’s tie everything together with some questions that will provide you useful information to strengthen your report.
What are the benefits of using your brand ?
What is theEmotional value of your company?
Do you give the consumers enough reason to believe in your company ?
Where is your brand currently positioned in the market ? (why you are better compared to others )-
What’s the true Purpose ?
Which category does your product fit into?
Does your brand have any major Competition ?
How do you plan on presenting your products to the people
If you had to pick two words to describe the personality of your company what would you select ?
If you’ve followed all the steps so far then you should have a well written business plan to present to your peers.