How To Startup Business Plan sure success
How to startup business plan for sure success ?
Because 10% of startup business only become successful,
So what do you think ? why do 90% of startup fail ?
Therefore in this article, i’m going to explain, the best idea how to startup business plan ?
As you generally listen, you must have a tremendous idea for a startup,
So today we’ll discuss about ideas, and what’s tremendous idea ?
Now lets begin, how to startup business plan in the right way.
How to startup business plan for sure success ?
So first of all, i would like to talk about salable idea Vs passionate idea.
Hence an idea that can sell, and an idea for which you are very passionate,
So with which idea you should go for startup ?
But remember one thing, Passionate Idea is no longer worth buying, if it is not salable.
No matter how much you like an idea, how great you are in it, but if that idea cannot be translated into business, then there is no respect for that idea.
So first examine your idea, whether it’s salable or passionate.
Because if it’s salable then everyone will come forward to join it.
But if it’s passionate, then you’ll be alone in the market, nobody will come to join you.
Therefore the first condition, your idea should be salable.
Now second tip for idea, innovative idea Vs problem solving idea.
If your innovation is not opening a big door and not solving a major problem,
Then it’s only a innovation having no any real value,
Whereas if your innovation is solving general people’s problem smartly in minimum hard work and time,
Also making their life and business smooth using your innovation, then your idea is only purposeful.
Then your innovation has a true value, that solve a real problem and create a new opportunity, otherwise all rest innovation does not have any value.
Because there is some purpose behind innovation in business.
Therefore examine your idea, but don’t think, it’s new then it’s good.
Now idea number 3, small market idea Vs big market idea.
So if it’s small market idea, then it’ll solve very few people problem, but not will last long.
Therefore idea should be big, and that should solve maximum people problem.
Now idea number 4, one idea or multiple idea, because many people start startup, at the same time think about multiple idea.
Because you have to understand, maximum idea is fail, due to these parameter, we have discussed that so far.
So choose one big idea, and work hard for next 4 years.
Startup business plan template
If you want to start your company, what do you think about, one founder idea or co-founder idea, which is better ?
So many time it’s seen that, people say it’s my idea, then why i will give someone share ?
But one thing i want to tell you, in all the biggest companies of the world, there were co-founder.
Now take some example, Steve Jobs founder and Steve Wozniak co-founder Apple,
And another largest company of the world Google, co-founder Larry Page and Sergey Brin.
Now another famous company of the world Microsoft co-founder Paul Allen.
But here i want to give a advice, never build a company alone.
At least you take one or two co-founder in the company, and take 4 or 5 like Infosys, no problem.
But don’t think to become single owner of the company,
Because being 5% owner of a big company is better, than owning 100% of an average company.
This’s the best strategy how to startup business plan.
And one thing is more important, whatever you have taken education, it’s not necessary that education support you in startup.
But if you’re confidence for your business, then you can become successful, if you don’t give up.
Just you have to follow this formula (PISP) P-problem, I-identification, S-solution, P-providing.
So it’s just about searching problem in the existing market, and find the solution for that problem.
Now how to search the problem in any existing market ? what’re the problem people are facing ?
And then search the business idea in that problem, what you can provide the solution through business.
Template for startup business plan
If you’re thinking to start a business, then you should know, how to write a business plan.
And it’s usually find that, after having a great idea, but why do many startup fail.
So what makes the some businesses successful, while other businesses fail.
Hence there may be several reasons, but in most cases the fail reason is due to poor customer service, poor logistic management and inadequate product.
But the major reason is the lack of the business plan,
Because business plan define goals to achieve them,
So if you make a business plan achievable goals plan to success, then you’ll realize your dream and make your business flourish.
Therefore here is the list considered while writing a business plan,
Hence this will help you defining your goals, and support to achieve your goals.
- Define your vision– When you start a business, you have a clear goal in your mind, You should know exactly, what you wish to achieve with your business.
However after some time the clarity of your vision become blure, and you forget some of your billion ideas.
So writing your business plan it’ll identify and define your vision and mission.
All daily activity of the business will be aligned with your vision of business.
There should be first step of writing a business plan.
- Set your goals and objectives for the business– Never assume your goal need be small within limitation. So think big clearly define short term goals.
Which you wish to achieve in 12 months, and mid term goals between 2 to 3 years, and long term goals, consider all aspect such as you wish revenue to generates.
For example the number of outlets you want, and the number of customers you need in your database.
And the possible amount of income is to be generated in the future.
Startup business plan outline
- Define your unique selling proposition– your unique selling craft will make your potential customers,
How is your product or service different from others in the market ? it could be anything from additional services for the customers.
So you can even offer them sale’s warranty and support. While writing the business plan, you highlight the extra service to your customer.
To make your business stand out.
- Know your market– You have the brilliant idea but someone has already started with the similar plan. This’s a very common across.
Then you should not let to start it, so research the market place, how many competitor you have, and what services they offer,
What are the current and future trends of the industry. So once you know the internal market policy.
You can manipulate them in your favor, So this’s important part of learning to write a business plan outline.
- Know your customer– Because customer are the most important part of any business, So you should know the your business customers.
Today customers have a lots of choice, because they have thousands of options for every product, So if you want to buy your product,
Then you should know, what your ideal customer want ? This’s the reason, why you need to define your target population ?
And research you have the writing plan for business.
So understand the motivation behind customer’s actions can make your business successful.
Therefore you can focus on the area that grab the customer interest, and stop wasting energy on the rest.
Hence put yourself in their shoes then think what would make them choose you each time.
After that write the idea and implement them for the customer attention.
Also check this how to start a business with no money.
How to write a startup business plan ?
- Research the demand for your business– You must know the demand and supply them, So find out the demand before investing in a new business.
So the basic rule is demand should be more than supply, but if the demand is less than the supply your business will eventually die.
Therefore do the home work and gather more information do you have,
But the best way is, you directly interact with your target audience, know their preference to buy your product.
- Set your marketing goals– How your product would look like ? what it’ll cost ? how you’ll distribute it ?
And the way in which you can promote it, you should set your primary business objectives,
For example the number of products you will sell, and what will be your product development strategy ?
Your price margins, delivery method and promotion plan must be consider.
When you’ll ask these questions yourself, then this will help you define the goals for marketing your business.
How to set business goals ?
- Define your marketing strategy– Now that you have marketing goals, you need a plan to achieve them.
How many products you need to produce and sell at what profit margin, so as to get your desired revenue.
As well as what will be your system of delivery and your coverage area ?
What will be your strategy to promote your business ? the media you’ll use very specific.
So plan for every eventuality while writing a business plan.
- Take action– And of course without action all else is waste. This’s the most important point writing a business plan.
You complain all you want, but unless you do the actual work, and bring customer to your business, you’ll not earn anything.
Even if you find that according to the business plan, your idea is not viable, don’t give up.
There’re thousands of other ideas, you can ultimately find a super one, If you want to be happy and wealthy ready to grab it.
So writing a business plan is not difficult, if you know, what you should focus on. start your research today.
Set your goals, define a path, and don’t let anyone stop you.
Startup business plan example
- Principle number 1– Go from zero to one, this principle says discover something new idea.
If you want to become successful, then do something new, and go from zero to 1.
Which is also called vertical progress, So do something which is not done before.
Because if you’re doing the same thing which is already available, but you’re doing little changes in it.
Then you’re going from 1 to N, Which is called horizontal progress,
But doing this, success change becomes very less, and it’ would not be able to achieve big success.
And it’ll not last for long time, in the business world event happens once.
Because next Mark Zuckerberg will not make Facebook,
If you’re copying their product, then you’re not learning from them.
Because they got huge success, when the went from zero to one.
- Principle number 2– create a monopoly avoid competition, we’re living in such a society, where competition get more encouragement.
Because our education system teach children from childhood about competition, first they compete with each other for marks.
Then for jobs and if don’t get anyone, then compete with neighbor,
So in business competition is like poison, capitalism and competition is opposite to each other.
Because capitalism is about to generate profit, whereas competition is to destroy profit.
How to start a business ?
If i tell you something to search on internet, then where you’ll go ?
Obviously you’ll go to Google search engine, because this’s one of the best and big search engine.
No any other competitor of Google right now,
So Google has created his monopoly,
Hence in the similar way, if you want a great success in business, then you should create monopoly for your business.
For your product or service, such that there should be no any other option for people except you.
- Principle number 3– Start with a niche market and then dominate, Today Amazon is such a website, where you’ll get everything there.
But Amazon was not started as it is now, in the started time Amazon targeted on specific area that was book.
So, before Amazon people were getting book only from book store, and there was problem, people were not getting all the book.
And the book publisher was suffering from loss. So Amazon made a book store and bring a progress from 0 to 1.
Now after getting success in book store, Amazon started other products like, CDD, DVD.
And slowly dominated to each market, So if you want to setup a business,
Then first target a particular niche, and help those people, where other business people are not thinking.
So in the starting of business, focus on targeted audience for specific category.
What you should look before starting a business, and how to choose an idea, as well as how to write a business plan ? everything is explained well. So if this article is helpful for you, then like, comment and share on social media. I hope that you enjoyed learning about how to startup business plan, Now you can subscribe us for latest post, Thanks for sharing this article on social media.