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Araceli Susunaga

Entrepreneurship: Business Plan I

The starting point in the development of a business plan is the business idea that we have in mind to develop. Berzosa (2023) says that when starting a business venture, it is the main tool when planning because it helps to increase the chances of creating a profitable business, where the idea is presented in a structured way and at the same time, reflection is made to reduce as much as possible the risks that will be run.



“The Business Plan is the letter of introduction of the entrepreneurs and the project to third parties such as financial entities, investors, public bodies, etc.”

Secretariat of Economic Development of the State of Mexico.


The structure of the business plan, according to SDEM, is as follows:


ADMINISTRATION


  • Business description. Name, classification, mission, vision, values, objectives, competitive advantage, regulations, legal framework.

MARKETING


  • Customers . Marketing objectives, consumer characteristics (end, industrial, etc.), consumption habits (tastes and preferences), purchasing motives, income and consumer spending levels, market size, demand quantification, usage rate (seasonal, temporary consumption, etc.), geographic segmentation (region, population, climate, etc.), demographic segmentation (age, sex, educational level, etc.), psychographic segmentation (lifestyle, activities), market prospects, purchase intention, factors affecting demand, development potential.

  • Competition. Characteristics of competition (direct, indirect), nature of competition (location, price, quality), analysis of competitors, description of competitors (rivalry, level), strategies; capacity, size of competition, number of competitors, sales volume and market share, positioning and amount of assets, preliminary diagnosis, market opportunities.

  • Promotion and advertising . Geographic definition, advantages, nature of launch (location), budget, timing, market share.


  • Distribution. Traditional methods (flyers and advertisements), advantages, disadvantages, business relationships, established contacts, public relations, available infrastructure, company location and associated costs, available facilities (including sketches), mobile equipment, sales force, structure, operating costs, sales and distribution methods (diagram); planned budget.

  • Pricing policy. Market prices, impact on demand, comparison with the competition, maximum and minimum prices, penetration prices, payment conditions, competitive environment, reference prices (costs + gross profit).

We continue in the next edition with the business plan!


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