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How to develop a business plan for your e-commerce?

01 Feb 2022. 12:22
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  • SME maturity
    High
    Topic
    1. Comercio electrónico
    Scope to digitize
    1. Digital organization

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Entradilla

Find out what a business plan is and discover the key elements to make one. 

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Plan for your e-commerce
Descripción

Business plans are usually made by companies that are just starting out. However, if your business is facing restructuring or major changes, such as in this case setting up an e-commerce site, you also need to develop a business plan for your new online sales channel.   

 

A business plan is a written document that sets out in detail how a company defines its objectives and the planning required to achieve them over a given period. It also includes the definition of the key indicators that will help to measure these goals. This document determines information from an operational, financial and marketing point of view.  

 

In this way, the business plan will serve to demonstrate whether your business is viable. It is a tool that provides a comprehensive view of the business and will serve to anticipate any problems that may arise in the future. 

 

We know that not all businesses are the same, but in this post, we want to explain some of the key and common elements that every business plan should include.  

 

  1. Executive summary. The aim of this point is to give full details of the company, such as its structure, customers, products or services offered. As well as market details and information on financial operations. 

 

  1. Description of the business. In this section describe your business, tell what the business structure and mission is like, as well as any information about the owners, employees, operations and location of the company. 

 

  1. Market analysis. To conduct a market analysis, several key points must be identified. The first thing to ask yourself is whether your proposal is feasible in the current market. Next, you will need to define your target audience and analyse what the competition is currently doing.  

 

  1. Products and services. Describe the products and services you are going to offer. In addition, you can include prices, as well as production and manufacturing processes. Also talk about the benefits to consumers, and how it could be valued by competitors and your target audience in the market. 

 

  1. Management and operations plan. Explain the organisation and management of how you are going to run your business, from technology requirements (computers, printers, cameras) to storage. 

 

  1. Marketing plan. Develop marketing strategies and explain how you plan to reach the consumer, as well as attract and keep recurrent customers. To do this, you need to define details such as the distribution channel and what types of media the campaigns will be in. 

 

  1. Financial planning. At this point you will need to develop your financial plan in detail, it is important that you enter the initial cost, which is the cost necessary to start your business, and the financial projections. And in case you are looking to attract investors, also include an application for funding.  

 

The business plan is a document that will guide you in developing your business. 

 

It encompasses many issues and doing it will help you to plan both the operation and the strategies you will need to develop. It will also help you to set the objectives you want to achieve and set a time limit for achieving them. Don't forget to develop key indicators, which will allow you to measure your business goals. It is recommended to make a business plan annually, as the market and its environment are constantly changing. 

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