Once you’ve developed your Business Model Canvas you can map this to your Business Plan.
The S.M.A.R.T. Business Plan.
What is a S.M.A.R.T. Business Plan?
A S.M.A.R.T. Business Plan is:
Specific: It outlines in detail the steps you need to take to achieve your desired outcome.
Measureable: The steps are measureable in terms of how and when they are met.
Attainable: You have to be able to carry out the tasks you’ve identified, or find resources that can.
Result Oriented: Your actions must produce results. That’s the whole point of the plan.
Time Based: Tasks with defined due dates are more likely to be completed.
There are many Business Plan Templates that can serve as a good framework. Most of these focus on Marketing & Sales. While key to validating your business concept & identifying how you intend to get people to buy your Product or Service, you still need to develop a plan that you can work to.
All plans include a section on Operations. This usually focuses on describing the finished business model, and not the step by step needed to achieve it.
Without first laying out the step by step, the section on Finance may not be able to clearly identify the ongoing cash flow requirements.
Once you’ve developed your Market Research & Sales Strategy, completed your Operations Description, and input your basic Financial Structure, it’s time to plan how to achieve these.
Each section of your Business Plan includes Critical Path items. It is here that you need to develop the step by step activities required to achieve your objectives.
An effective technique for developing your Critical Path is to Plan it Backwards.
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