When writing a Business Plan you are going to need to clearly state your Objectives and Goals and basic reasons for starting the company. If your company is going to be selling a product then you need to define both the objectives and goals of your product and the objectives and goals of your company.
What is fascinating is that when I help entrepreneurs they often fall down on these points and stress way too much over this basic part of the business plan, even more interesting is the fact that as they work through the business plan they often modify their objectives? I say "good" because this is a major benefit in the planning process.
My advice to you is to just start and put your original ideas down in lose paragraph form and continue thru the business plan. You can modify the rough draft later after you complete the process, remembering of course that the process of planning is indeed perpetual and thus when you finish you have merely finished the first Review.
The following is an example of how you write your goals and objectives of the first rough draft. This was taken from an online think tank Project for a product invented by Charles Shooster Ph.D. - A hygiene product called "Teeth Wipes" [Brands 1997]:
OBJECTIVES
Through the creation of clean teeth brand we will help people brush their teeth, sometimes, when the toothbrush is not available or brush your teeth with toothpaste and a toothbrush is not easyfeasible. The desire and need to keep the mouth fresh and clean, free of food debris and decay is universal. Therefore, Teeth Wipes will be sold worldwide through multiple distribution lines to solve these challenges. We intend to make the Teeth Wipes easy to get, readily available and inexpensive to purchase, then satisfy the customer with excellence insuring further patronage of this disposable product. Assisting in removing food particles and debris Teeth Wipes and the Teeth Polishing Pads will keep the mouth fresh and clean on each use for 1-3 hours because food debris is a major cause of mouth odors. The polishing pad action further causes the removal of plaque build-up and helps keep an odorless mouth. Goals
We will complete all prototype phases of the business plan and have suppliers lined up with a pre-inventory of 300,000 units in two months. We will also set up our telephone sales team and develop promotional online videos demonstration and create a secured online ordering system during this time-period.
The Teeth Wipe Company will solicit all purchasing agents within the distribution channels we choose and automate the sales and ordering process online to minimize our costs speed up delivery. Within the first three months, we will sell 100,000 units and by the end of the first six-months we will have sold over 1,000,000 units and poised to distribute 10,000,000 units, thus establishing our brand in the market place.
We will entertain offers to buy this company after the first 9 months and/or solicit selling the company within 24 months. Meanwhile, we will constantly be looking for new product lines that we can launch with our existing customer base and support a modest closely knit R & D group.
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We certainly hoped you have learned a little something about writing business plans in this session and wish to remind you that everything you see, everywhere you go was made, delivered or bought by an entrepreneur and thus, we wish you all the best and thank you for your ingenuity and innovation. Carry on!
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