Most of the knowledge you want about merchandise, companies, prices, and company goals should be readily available. If that information is not out there, you might have identified a weak spot. The Competitive Analysis section of your small business plan is dedicated to analyzing your competition–each your present competition and potential competitors who may enter your market.
- For instance, if you manufacture a product or present a service and will hire a key skilled worker, describe that worker’s credentials.
- Defining the issue you are solving in your clients is by far probably the most important factor of your business plan and essential for your small business success.
- Before you get started with your small business plan, let’s speak about some “rules” that may make the whole business planning course of easier.