Thinking of the Market for Your Products
Customers are your market. Think about what problem they are facing. Find the solution to that problem and make it your business idea. The reason why customers pay you is for a solution to their problem, not because you have to something to sell but because you are solving their main problem. As an example, banking services in an area that produces a cash crop for instance, if you propose banking services to that place, automatically you will get clients.
Organizing Your Thoughts
There are many ways of presenting a business plan. To avoid confusion, make sure you choose the simplest plan format. Be direct and tell your customers and other readers of your business plan, exactly what they want to hear. They do not have time for your beating around the bush, so be precise in giving the details of your business plan.
The most important thing is telling or reminding them of their main problem and immediately giving them the solution and the final cost. Of course, you can't win the hearts of all but a good percentage will believe in you. Never waste time on the doubting few but do spend time serve the buyers of your product because they are the ones that make the mantle of your business alive. Put your ideas clearly in writing, assess the whole project and research thoroughly the needs of your client. This includes talking to them in person or employing an expert to help you answer all the questions you need in order to complete your plan.
How to Raise Capital
One can finance his business from his own savings, a loan from financial institution, or from investors or shareholders. The plan should demonstrate clearly all aspects of the proposed business. Be sure to know exactly how much is required, and for what purpose. It helps to assure investors that their funds will be used effectively. Planning will not only help you gain the money you need to borrow but even in planning and utilizing your own money wisely.