Reading
In the first lesson of “Business Plan Preparation,” you will embark on a foundational journey to deeply understand and analyze your market and competition. This lesson begins by guiding you through effective techniques for researching your market, enabling you to grasp key trends, customer needs, and market dynamics. Following this, you will delve into researching your competition, a crucial step in identifying your unique selling proposition. To aid in competitor analysis, you’ll learn how to create and utilize a comprehensive table, a tool that visually compares various competitors on critical factors. The lesson also focuses on enhancing the professionalism and readability of your business plan through practical tips on formatting text, as well as adding headers and footers for a polished look. Recognizing the importance of external perspectives, you’ll discover methods to gather and incorporate feedback on your plan, ensuring it’s well-rounded and robust.
As business plans can come in various formats, the lesson covers the most effective formats for different business scenarios. Additionally, you’ll explore the critical aspects of assessing threats and opportunities in your business environment, a key element in strategic planning. Finally, you’ll practice and refine your elevator pitch, an essential skill for succinctly and persuasively presenting your business idea to potential investors, partners, or stakeholders.