Discover how to create clarity on objectives, double the size of your business and attract hundreds of new customers with a business plan.

Gillian Perkins, in her video How to Write a Business Plan, provides insight into the basics of writing a successful business plan. She shares her experience in starting her first business with no money, skills, plans, or ideas and how she was able to double the size of her business with a solid plan in two years. Perkins outlines the six main sections of a business plan; an overview, message, marketing, product, production and delivery, and goals. Additionally, she provides insight into the importance of having a mission and chart of accountability, target market, visibility and lead generation strategies, and a product's result and impact.

Learning Outline

1. Overview of the business, including company structure, location, and brief description of what the company does
2. Company mission and the driving force behind the business plan
3. Chart of accountability
4. Outlining the company's message
5. Marketing and generating sales, including defining the target market, estimated size of the target market, visibility strategy, lead generation strategy, and conversion strategy
6. Describing the product or products, including the result it creates and the impact of the product
7. Production and delivery
8. Goals

Instructional Content

Writing a business plan is a crucial step in the journey to starting and running a business. It is a roadmap that outlines the goals and objectives of the business, and provides a plan of action to achieve them. It can also be a great tool to attract investors and lenders. In this Entrepreneurship 101 video, we learn how to write a business plan, step-by-step.

The business plan has six main sections—Overview, Message, Marketing, Product, Production and Delivery, and Goals. The Overview section provides basic information about the business, such as the company structure, location, and a brief description of the company. The Message section is the driving force behind the business plan and answers questions like what problem does your company solve for customers, what result does your company create, how does your company create that result, who does your company serve, and why should customers choose you over competition. The Marketing section outlines the target market’s demographics and psychographics and provides a visibility strategy, lead generation strategy, and conversion strategy. The Product section describes the primary product and the result and impact it creates. Production and Delivery outlines the process of creating and delivering the product. Finally, the Goals section outlines the company’s goals for the future.

Writing a business plan can be difficult and time-consuming, but it is an essential step to growing and succeeding in business. With the tips and tricks provided in this Entrepreneurship 101 video, creating a business plan just got a little easier.

Management

Crafting a Business Plan

Management is a complex and highly sought-after skill in the modern workplace. It involves a combination of strategic thinking, written communication, and entrepreneurship. To develop these skills, it is important to gain a comprehensive understanding of the individual components of Management, as well as how they interact with each other.

For instance, in the startup and entrepreneurship scenario, it is important to understand the basics of starting a business and the fundamentals of how to write a business plan. This is a key component of Management, as it involves the ability to think strategically, identify objectives, and create a plan of action. The video How to Write a Business Plan - Entrepreneurship 101 provides an excellent overview of the process and the transcript provides helpful advice on how to create a more effective business plan.

In the Strategic Thinking scenario, learners should focus on gaining a better understanding of the different components of strategy, such as mission statements, chart of accountability, target market, visibility strategy, lead generation strategy, and conversion strategy. By understanding each of these components, learners will be better equipped to create strategic plans and develop their strategic thinking skills.

The Written Communication aspect of Management is also important, as it involves being able to articulate ideas and plans in a clear and concise manner. In this scenario, it is important to focus on honing the skills of grammar, syntax, and clarity. By spending time improving these skills, learners will be better equipped to create effective and persuasive documents and plans.

By focusing on the specific components of the various scenarios, learners can gain a comprehensive understanding of the skills that comprise Management. With the right approach, learners will be able to develop these skills and become better equipped to handle the challenges of the modern workplace.

Startup and Entrepreneurship

Ready to Launch a Startup?

Developing a business plan is essential for any entrepreneur. It's the foundation of your business, outlining your objectives, goals, and strategies. By following the advice in the video, you can create a clear and organized business plan that will help you reach your goals.

The video outlines six main sections to include in your business plan. Start by scribbling your ideas for each on a separate blank piece of paper. After that, create a cohesive document with an overview of your business, a mission statement, a chart of accountability, a message to customers, a marketing and sales strategy, a production and delivery plan, and goals.

Your mission statement should be the driving force behind your business plan and should answer questions like what problems does your company solve for customers, what result does your company create, how does your company create those results, and why should customers choose you over competition? In addition, you need to have a clear idea of what message you are working to communicate to customers and how you fit into their lives.

To maximize sales and attract customers, you need to define your target market, both by demographics and psychographics. Estimate the size of your target market and identify where you can find them. You also need a visibility strategy, lead generation strategy, and conversion strategy.

Creating a business plan will provide clarity and focus, helping you to double the size of your business within two years and attract hundreds of customers. Use case studies and relevant statistics to illustrate how your plan will help you reach your goals and increase your profits. A well-crafted business plan will be the foundation of your success.

Strategic Thinking

Ready to Strategize?

Strategic thinking is essential for personal growth and professional development. A great way to upskill yourself is by learning how to write a business plan. A business plan is a document that outlines the goals and objectives of your business, the strategies you will use to reach them, and how you will measure your progress.

The video and transcript on How to Write a Business Plan - Entrepreneurship 101 provide a great overview of the six main sections of a business plan: Overview, Message, Marketing, Production, Delivery, and Goals. It also explains the importance of having a mission and a chart of accountability, as well as strategies for marketing, lead generation, and conversion.

Having a well-thought out business plan is essential for any successful business. According to the Small Business Administration, business owners who take the time to write a plan are 16% more likely to be successful than those who don't. Taking the time to understand the components of a business plan and how to write one can be invaluable for upskilling yourself and achieving success.

Understanding the basics of strategic thinking is an important step for personal and professional growth. Taking the time to watch the video and read the transcript on How to Write a Business Plan - Entrepreneurship 101 can be a great way to increase your understanding of the importance of strategic thinking and help you become more successful.

Written Communication

Ready to Write a Plan?

Upskilling yourself in written communication is an essential step in personal growth and professional development. It is the foundation of success in modern business, as the ability to communicate clearly and effectively is a crucial skill to understand and employ. The video “How to Write a Business Plan” illustrates this by presenting an easy-to-follow system for creating a business plan.

The video begins by emphasizing the importance of having a mission statement, as it serves as a driving force behind your business plan. It then moves on to the six pages of your business plan, including an overview, a company message, marketing and product, production and delivery, and goals. Each of these sections is important for a successful business plan, as it lays out the objectives and strategies for achieving success.

To further illustrate this point, the video gives examples of questions to address in each section of the business plan. For example, the marketing section should include questions about what problem the company solves, what result it creates, who it serves, and how it sets itself apart from the competition.

The video also provides helpful statistics. For example, a survey by the U.S. Small Business Administration found that businesses with a written plan are two times more likely to grow their revenues than those without one. This highlights the importance of taking the time to create a business plan.

Ultimately, the video “How to Write a Business Plan” provides an excellent introduction to the process of creating a successful business plan. It outlines the key sections of a business plan and provides relevant examples and statistics to support its advice. By following the tips and guidance provided in the video, entrepreneurs can gain a better understanding of how to craft a business plan that will help them reach their goals.

For Learners

Watching the video ‘How to Write a Business Plan - Entrepreneurship 101’ is an invaluable opportunity for a life-long learner. The positive benefits of watching this video are that it provides a comprehensive overview of the six main sections of a business plan and how to create each. It outlines the mission, target market, visibility strategy, lead generation strategy and conversion strategy. The video also includes a free template to use as a guide.

On the other hand, not watching this video could be detrimental to learning. Without this knowledge, a learner will not be able to create an organized and effective business plan that is tailored to their company’s mission and goals. Furthermore, the learner may struggle to find their target market, build visibility, generate leads and successfully convert them into paying customers.

Applying the ‘what’s in it for me’, ‘what’s in it for them’, ‘what’s in it for us’, and ‘what’s in it for the world’ approach to the content of the video will benefit a life-long learner for personal growth and professional development. For the learner, watching this video will provide the knowledge and skills necessary to create a successful business plan. This in turn will benefit their customers as they will be able to provide them with a high quality product or service that meets their needs. Additionally, the learner will also be able to build strong relationships with their customers and create a positive reputation for their business. Lastly, by learning how to create an effective business plan, the learner will be able to contribute to the global business economy by creating a successful and sustainable business.

For Employers

This video, How to Write a Business Plan - Entrepreneurship 101, is a must-watch for any forward-thinking employer. It provides employers with the necessary tools and strategies to create a comprehensive and effective business plan. Writing a business plan can be a daunting task and this video makes it easier by breaking down the process into six clear and concise steps. It also provides employers with the knowledge and skills to effectively market their products or services, generate leads, and convert leads into paying customers.

By learning the concepts in this video, employers can differentiate themselves from their competitors by having the knowledge and skill to create a comprehensive and effective business plan. Moreover, customers and clients will perceive employers and their products or services more positively if they know that employers understand the concepts in this video.

Ultimately, this video is beneficial to employers in the present, the past, and the future. It can help employers create a more structured and organized business, increase their profits, and grow towards their goals. In the present, employers can use the video to create a more cohesive business plan. In the past, employers can use the video to reflect on their current business plans and look for areas for improvement. And in the future, employers can use the video to stay ahead of the competition and stay on top of the latest business trends.

Career Path

Completing a course in Management based on the competencies of Startup and Entrepreneurship, Strategic Thinking, and Written Communication can help individuals on their career path in extraordinary ways. These skills are invaluable, and will help level up individuals to become more employable, promotable, and purposeful. Taking the time to watch a video like “How to Write a Business Plan - Entrepreneurship 101” and reading its transcript can help individuals gain the income-producing skills they need to close the skills gap and get meaningful work in high demand and high growth industries.

By taking the time to watch this video and read its transcript, individuals will gain the skills and knowledge necessary to create a business plan that will help them stand out from the competition, and gain the attention of employers. Individuals will learn how to create the six main sections of a business plan, how to define their company’s mission, how to define their target market, how to create a visibility strategy, how to generate leads, and how to develop a conversion strategy.

By completing this course, individuals will be able to demonstrate to employers that they have the skills required to create and implement a business plan. This will make them more employable, promotable, and purposeful. They will be seen as life-long learners and will be able to obtain meaningful work in high demand, high growth industries. They will be able to make an impact in the world, and will be able to create a lasting legacy.

Meaning

"Don't put off writing the business plan because you don't know everything yet, but rather write the business plan so that you can get very clear on exactly what you do know and what you need to figure out." - Benjamin Franklin.

This quote from Benjamin Franklin emphasizes the importance of having a plan for success, no matter how much knowledge or experience you have. In the video, the speaker provides a step-by-step guide for writing a business plan, which is the first step to achieving success. Writing a business plan helps to clarify objectives and goals, and provides a roadmap for how to reach them. It is an essential tool for entrepreneurs and employers, as it helps to set expectations and create accountability. The video provides a useful and comprehensive guide to writing a business plan and is an excellent resource for anyone looking to start a business or manage an existing one.

Takeaway

Writing a business plan is an essential step for entrepreneurs to create clarity on objectives and goals, and to increase profits and grow the business. It's important to define the mission, create a chart of accountability, and identify target markets and strategies to generate sales. Writing a plan is a key step to success.