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1. Why is it important to have a good business plan? 

2. What are the 5 elements that every business plan must contain? 

The elements of a business plan can vary according to the different types of enterprises and personal tastes. However, it could be said that the following should never be missing:

1) Brief introduction of the business idea. In it you must describe the main features of the chosen item and the characteristics of the company you are about to build. It is the first part of the business plan, so you must encourage reading and hook your audience.

2) A market study as detailed as possible. What problem are you going to solve? To who? You can show studies on the situation of potential customers to show why you can solve that problem.

3) Carry out a SWOT analysis (strengths, weaknesses, opportunities and threats) and define the market strategy. The strategy is important when creating the plan. Focus on the strengths of your company, but do not forget the weaknesses, to try to correct them.

4) How are you going to make money. Your business model. The model you choose is very important, although it may change with the development of the company, you have to start by being clear that a good business model will force you to answer two questions: Where is the money you need? What will you do to get it?

5) Marketing plan. Basically, a marketing plan is a document that reflects an objective once we have carried out the internal and market study, as well as the strategy to achieve it. It must contain the actions that will carry out the strategy, calendar, budget and the indicators that allow us to evaluate the performance and return on investment.

3. What is the perfect recipe to implement the business plan you have developed? 

Without a doubt, the proper implementation of that plan you have been working on is what will make the difference. Execution is a key factor because it is the moment in which what is planned materializes. 

Implementation is not only tactical but requires discipline and organization that must be integrated into the organizational culture. Undoubtedly, it must be backed by proper monitoring and the knowledge of the people who will carry it out. 

Collaborators play a key role, therefore, aligning individual efforts with the strategy is essential, and it is essential to have their motivation and commitment.

4. What does the phrase “one size does not fit all” mean and why is it so relevant?

In Spanish its meaning would be "one size does not fit all". But what does he mean? 

The Internet and social media have settled into an era where the general consumer enjoys greater capabilities. And as this sensitivity grows, “one size fits all” approaches are no longer acceptable. 

 In a world of globalization, digitization and fierce competition, customer-centricity is the buzzword. Almost all companies want to make the shift to a more customer-centric approach as a means of differentiation, to drive sales, build customer loyalty, make customers happier, and ensure higher profit margins.

Market researchers call it "segmentation": the process by which customers are divided into groups based on their needs, interests, and priorities, and products and services are designed and targeted to meet the specific needs of each segment. In recent years, marketers have moved from a view that the market is relatively homogeneous to a more focused approach that recognizes the diversity of customers.

5. How to control the management of your business plan?

An adequate management control aims to monitor the critical variables of the business, which refer to the strategic and functional objectives set.

The day to day can lead to plans being forgotten and remaining on paper only, therefore, it is important that you can encourage a designated time in team meetings to follow up on the strategy. 

It is recommended that the reviews and monitoring that you carry out to comply with the plan be in short periods, the market is dynamic and can change from one moment to another, that is why it is very important that you do not lose sight of the focus and that adjustments can be made in a timely manner. timely.

6. What are the best tools available to generate a good business plan?

The importance of a business plan when creating a company is undeniable, in the same way as affirming that its elaboration requires time, even more so if you are taking your first steps and you find yourself facing the challenge of develop a business idea on the way to creating your company or business. 

Good business plan software will provide you with outlines and formulations that serve as examples and guide you step by step through the entire creation process. In this way, you will create your own business plan piece by piece, without running the risk of forgetting important aspects. 

EN Business plan

It is a free business plan software designed for entrepreneurs and developed by “Recursos para Pymes”, a Spanish initiative created with the aim of helping improve the results of entrepreneurs. It is totally free and allows you to control the status of your plan at all times. Also, the program is available for Windows and Mac and takes up almost no space.

Enloop

It is well known internationally, its main advantage is the automation of the business plan. With it, you will only have to enter the data as the program requests it and it, on its own, obtains the results. Its basic package is completely free, and you can download your business plan in pdf to print and share. If you want to have all the functionalities that the program can offer, you must subscribe to one of the available plans. 

plandcompany

Plandempresa helps entrepreneurs to develop a serious business plan and to know the viability of their company thanks to a well-founded economic-financial analysis. This software is paid and has been developed by a group of experts with the aim of simplifying the arduous task of preparing a business plan. By following ten simple steps you can refine the business model and your business plan, with the additional fact that said software allows you to create presentations to show the plan prepared to potential partners or shareholders.

In short, the Business Plan is a scheme with the objectives of your business. Its proper use will guarantee the consistency and viability of the business model, while showing the commercial appeal to encourage financial support from a third party.

Do you need help with this or any other issue with your business? Follow me on @grlbuzz or write me to: dalia@grlbuzz.com