Page 103 - GMN Digital Group Book

CORPORATE COMMUNICATIONS
BUSINESS PLANS

What We Include In

The Business Plan

Sections E Elements

Executive Summary Business summary - Company structure, name, product or service and customer
profile
Business aims - Three objectives over one, three and five years
Financial summary - Expected sales and costs and funding
Elevator pitch - Two-minute talk to sell your idea to a customer

Business Background Experience - Relevant work carried out to date
Qualifications - Credentials
Training - Past and future, including business skills such as assertiveness

Products and Services Product or service - With a picture if product is new
Range - If more than one, such as garden design and maintenance
How it is different - What makes the product or service stand out from the crowd?

The Market Typical customer - Businesses or individuals and their profile; local, national or inter-
national
Market research - What the local market is for similar products or services

Marketing Strategy Types of methods:
• Word of mouth
• Advertising
• Business literature
• Direct marketing
• Social media
• Website
Competitor Analysis Table of competitors: Who and where they are, what they sell and for how much, how
good they are
SWOT analysis: Strengths, Weaknesses, Opportunities and Threats. Including how to
remedy any weaknesses and combat known threats
USP: Unique selling point of the product or service. Features that makes a product
different from competition
Operations and Logistics Supply and delivery: How the goods or service will get from A to B
Equipment: Details of transport, office items and premises
Payment, legal and insurance: How customers will pay and how that translates into
salaries; compliance with the law
Costs and Pricing Strategy Cost: How much each unit or batch costs to make and deliver
Price: How much each unit or batch will sell for
Profit margin: The difference between cost and price per unit

Financial Forecasts Sales calculations: For each month, the expected number of sales
Costs calculations: The costs of the predicted sales each month
Cash-flow forecast: The money coming in and out of the business

Back-up Plan Short-term changes: Cutting costs or boosting sales immediately
Longer-term changes: Shifts such as working online, not on premises
Closure: Lessons learned and skills acquired if the business closes

GMN DIGITAL GROUP 101