What counts as a business plan
So i have an idea for website.
Now since i am not good at developing a website, i hire people for doing it.
Any other thing included to be developed, i hire people for that too..
For initial investments, i go for initial investors.
Now doesnt it sound too easy?
I only had an idea, i did not develop it.Did not pay for it initially.
Does this sound like a business plan.? Where do my efforts go here.
Yeah, i will have to work on advertising it.But still, something does not sound right.
Am i missing on something.?
2 Answers
A business plan should include quite a lot of information that you don't include in your post. There are several good outlines for business plans on the web. At a minimum you should discuss the target market (who is going to use your site), marketing plan, how you'll use the money you raise and who is on your team. I'm sure I've missed some importing details. Find a good out line on the web.
Quite frankly, you're missing almost everything. What you listed is nothing. The idea of a business plan is to make someone feel comfortable that you know what you're doing and they know what they are getting into (as an employee, investor, supplier, customer, etc.).
Will you make something physical (manufacturing)? If so, where will you build it? Where will you sell it? How will you deliver it? How many employees do you have and what kind of staff growth rates are you anticipating? What are your expected sales over the first 2-3 years? What are your expected expenses? What kind of profit do you expect to see?
What kind of financing will you use? What legal issues have you address and what still needs to be addressed? What market risks are there? What competitors do you have? How will you market your product? How will you acquire and retain your customers?
How do you differentiate yourself from your competitors? For investors, what kind of exit strategy do you have?
There are a lot of issues.
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that is not what i wanted to know, i know that i will have to explain all these things in a B-Plan, what basically i wanted to know is that, does it really sound like a B-Plan, when what my contribution would be just the idea, and i am outsourcing all other resources in the development part of it. Even to pay the resources, i willl seek investors? – Kraken 13 years ago
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Ah, I see. There is nothing wrong with having only an idea and then hiring others to do the work for you. Many people do this but you have to ask what you bring to the business - just the idea or some other experience as well? Generally, ideas are cheap - what really matters is the execution of those ideas. Ideas are easily stolen. If you bring only the idea you don't add much value which means you must be more protective of the idea. Still, you can do it. the way you say. – John 13 years ago
