Management and team planning to support your vision and support your organization culture

The investors of your Business Plan want to find out who is the driving force behind the new company. They want to be able to assess whether the people in charge have the right characteristics for managing the new company. A careful team planning requires you to think about the skills, abilities, experiences and managerial capabilities that you will require to build and grow your organization.

When assessing the company structure you have planned it is also interesting to know which agreements or contractual connections
already exist with partners or with research institutes. Think about the skills, abilities, experiences and managerial capabilities you will require in order to build and grow your organization.

Key Questions
  • What kind of leadership skills will you require considering the technical, operational and managerial aspects of business?
  • If you have already identified these individuals, who are they? What are their experiences, educational backgrounds, and skills?
  • Do you require leaders having industry expertise? Is this industry expertise available in your leaders?
  • What will be their key result areas? How will you monitor their achievements?
  • What salary benefits, equity and other remuneration you require to attract right leaders?
  • An organizational chart if you have more than 10 employees, showing the management hierarchy and responsibility for key functions.
  • List of any advisors, such as board members, accountants, and attorneys.

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Additional Tips:

  • Introduce your complete team. Explain the professional successes of each individual which make them valuable for the new project.
  • If you have already worked together successfully as a team, this is also well worth mentioning.
  • Based on the personal abilities and knowledge of each individual work out who is best suited to which tasks and responsibilities in future. Any lack of skills should quickly be remedied.

How to define your product and services so that 6 year old can understand it

In this section you have to clearly describe the products and services your business will provide. Explain the characteristics and / or functions of the product or the individual components of your service. Particularly in the case of technical products or services it is important to include a few sentences about the areas of application, i.e. where the product or service will be deployed. This also includes statements about the technical development status and the patent and license situation.

Product and Services section should describe the elements and details that make your business unique and different (or better) from your competition.

  • Present what is innovative about it and what sort of lead you have over the competition
  • Explain how your offering stands out from already existing ones and which opportunities there could be for developments
  • Explain the manufacturing process and what capacities and investments are needed to achieve the targeted sales volumes
Key Questions
  • The stage and status of your product or service. Is it ready? Is it under development? What is the timeline of the launch?
  • The outline of your unique selling point. What makes it different from the competition?
  • The pricing strategy. Do you have discounts? Premium packages? How is the discount affecting the profit?
  • The breakdown of your budget
  • The manufacturing procedure of your product. Do you have an agreement with an external manufacturer?
  • Your material sourcing strategy
  • Challenges you foresee in your business (including financial during low seasons).
  • Patents, copyrights and any trademarks your product requires.

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Additional Tips:

  • Bring out what is special about your product/service
  • Show how your product or service satisfies client needs and expectations

How to set up your system and operation process to get things done

Now you have comprehensive ideas about products and services, value proposition, target customers, marketing, and sales plan. The next step for you is to define your operations plan that will help you deliver your plan to the customer. Your operations plan should contain the details about the key partners, activities, and resources you will require for operating your business. In short, it describes how the work will be done, the workflow from input to end results, including the resources that will be used along the way.

While strategic planning provides the vision, direction and goals for the business, operational planning translates that into the everyday workflow of the business that will hopefully produce the outcomes defined by the strategy. Simply put, operational planning is the conversion of strategic goals into managed execution. It deals specifically with the internal operations and resources necessary to produce your company’s product or service.

An operational plan should typically address the following:

  • Where are we now?
  • Where do we want to be?
  • How do we get there?
  • How do we measure our progress?
Key Questions
  • Identify key resources such as office space, facilities, equipment and supplies needed for you to operate the business
  • Identify partners, associates, and collaborators that you will require to get your business in the market and support it
  • What kind of organization structure will be required to execute your plan? Your team hierarchy and structure should be defined based on the complexity
  • Your staffing needs. How will you hire, train and retain your staff
  • What will be your strategy for firming up the key partnerships for your business?
  • How will you scale up and down based on the market response and growth of your business

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Additional Tips:

  • Give details of your business location and say whether it is suitable or not for your product or service
  • Show how you plan to cope with the operational side of change and growth in your business
  • Reduce the risks where possible, and prepare contingency plans where necessary

How to set sales and revenue plan to double your business

For exploiting the opportunity you have to understand your potential. Therefore once the market has been researched and analyzed, it is very essential to have the sales or revenue model to chart the potential for the product, as well as the business, over a set period of time.

Your sales concept describes in detail the complete sales process, names the distribution channels you have planned and takes into
account the costs which will be incurred. Show how you see the structure of your sales developing. Explain the requirements for the
number, qualifications and motivation of your sales staff.

Write your sales plan in the following manner:

  • Define the goals and objectives of your sales plan
  • Define your customer and why, how, and what do they buy
  • Define the unique proposition that you are going to sale to your customer
  • Define the competitive advantage that your product/service has over the competition
  • Define the channels through which you will reach out to the customer – distributors, franchisee, retailers, etc
  • Define your selling process. Provide details on how you will maximize the lead to conversion ration
  • Define your strategy on setting sales target, monitoring and building accountability for sales performance
  • Provide key sales financials including product, timeline, units, revenue, selling cost, and margin
Key Questions
  • Which distribution channels are you going to use for the different target groups?
  • Which sales volumes do you want to achieve? How are sales and profits spread out according to the individual
    distribution channels?
  • What expectations do you have for your sales e.g. with regard to number, qualifications and equipping of sales staff?
  • What terms of payment and how much discount will you offer?
  • What is your service, advice and maintenance service like?

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Additional Tips:

  • Look into the future and see that your planned company growth is achievable
  • Investigate whether a partner can take your product or service into their portfolio and advertise it for you
  • Describe how you can achieve the price that you have decided on at the customer – think about prize reductions, explain payment options including discounts, explain the initial orders and the maintenance orders that might follow, etc.

Prepare your marketing plan to build relationships with your target customer

As a new company you have to make yourself and your products or services known on the market. Now it’s time to think about your marketing plan. Developing a relationship with your customer is one of the most important parts for every business owner. A solid marketing sales plan can be what sets your business apart.

Your objective: monetize the traction generated by marketing for higher sales and higher profit.

Your strategy: marketing plan + smart monetization = success

Write your marketing plan in the following manner:

  • [Company Name] is in the business of [provide 1-2 lines describing your company]
  • Define your target customers
  • Define your unique selling propositions
  • Define your distribution strategy
  • Define key offers and sales promotion schemes
  • Define online marketing strategy
  • Define traditional marketing strategy
  • Define your strategies to increase conversion rates
  • Define your strategy on maximizing the sales transaction value
  • Define your specific efforts for maximizing customer value
  • Specify key financials, leads and revenue results from your marketing efforts
Key Questions
  • Who is the target customer and how are you addressing them in your plan?
  • Why do you think the chosen marketing channels are the best option for your business?
  • What is your competition marketing plan? Provide analysis, references and results.
  • Does your marketing strategy communicate with clarity? Are there still any issues you need to address
  • What is the unique value proposition of your plan? What are your features, benefits, price, product and value for money?
  • Which advertising measures are you going to take up to introduce your product /service?
  • Which advertising media or material are you going to use?
  • What about your schedule and important milestones?
  • How much of your budget are you planning to use for this?

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Additional Tips:

  • Think about sales promotion campaigns which you would like to implement, such as developing a logo, setting up a website, placing advertisements, press relations, and consider what sort of budget you plan to use
  • Look for measures which fit in with your time contingent and your budget and those which promise the maximum success