10-Minute Business Plan

Can you really do a business plan in 10 minutes? Not if you want to get funding. But, for those of us that are always thinking of new businesses to start this is one way to start on the road to riches.

I am a BIG fan of the Business Model Canvas. When I meet a new entrepreneur I always send them this link, https://canvanizer.com/new/business-model-canvas This and the 10 minute business plan steps below will get you to thinking of the three things all business need to survive and thrive, customers, profitability and a strategy to get customers while being profitable.

Business Model Canvas
Business Model Canvas

Plus, like any entrepreneur, I have more ideas than time. I am always taking notes trying to keep track of all of my potential money makers. Some are campaigns and some can be legitimate businesses.

Recently, I came across the 10 Minute Business Plan from Grow Think.

So I thought I’d share it with you for when you have a business idea, want to jot down your ideas but no time to do it. Today’s ideas are tomorrow’s businesses.

The Steps

  1. Define It. – What is your service or product?
  2. Define the Need. – Write out the problem your service or product satisfies.
  3. Why should anyone buy it? – What is the value your product delivers? This becomes part of your elevator pitch.
  4. How will you distribute it? – Is it an e-commerce product? Will you sell it to stores? Create a sales team?
  5. How will you market it? – Yes, I believe in marketing plans and strategies but use this step to figure out how you’ll sell it and to who. Write it down.
  6. Who else is selling it? I don’t know why entrepreneurs always think their product is unique and the only one on the market. More than likely, you have a competitor. This competitor is the beggining of your new value proposition. Find them and compare yourself against them.
  7. Can you create a niche? Is there a niche you can exploit? – This is especially true for e-commerce companies. Whenever I see advice on creating another e-commerce business this is the advice is all of them. Plus my digital marketing partner says the same thing.
  8. How will you price it? – This is hard to do in ten minutes. But, this step helps you determine costs. And once you determine costs you can determine your profits.
  9. Next Steps – Now that it’s done. What are your next steps to get from idea to the marketplace. This is when you set up an appointment with the C1st team.

If you take the time to complete these you are on your way to your first customer! And once you get your first customer you are in business! Follow this blog so you can see what being an entrepreneur is like.

If you want help getting started on your new business, let’s talk, https://customer1stmarketing.setmore.com/ .

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