"Before beginning, plan carefully"
-Marcus T. Cicero
Let’s start with planning a strategic business plan.
If you are going to take your entrepreneurial IT solutions to market as a sole proprietor or do it with other IT colleagues. You will need a business plan. In order to write a solid business plan it is recommended to first write a business plan foundation.
But how do I do that…right?
Consider this. What you are really doing is taking an idea and building a business around it. To build anything, you must start with a strong foundation if it is to last the trials and tests that come along with taking and idea or concept and developing it into an actual product or service.
Again…But how do I do that?
Answer: John McAdam, author of “The One-Hour Business Plan” tells us to start with the five essential cornerstones of a business plan foundation.
The Five Essential Cornerstones To Building A Strategic Business Plan Foundation Are:
1.What are you offering?
What is your product or service
This is your Value Proposition.
2.Who are you offering it to?
Who are your customers and what is your target market?
3.Who are your competitors?
Who is already offering the same or similar product or service?
What is your competitive positioning?
Planning next steps, milestones, and creating an action plan.
5.How much money will this idea make?
Show me the money
The business plan foundation helps bring your idea to market, get customer reactions, good or bad. Then take what you learned in your initial market offering and go back and write the business plan based on how the market reacted to your idea. The concept here is to get your idea to market while the idea is fresh without spending too much time writing a plan for an idea that might not work for the current market.