1. Independent business plan
Small Business Management/Entrepreneurship

2. INDEPENDENT BUSINESS PLAN PROBLEM
Problem 2: Customer Service
First impression
Happy customers come back
Each contact with customer must be pleasant and accommodating
Sample: Restaurant Business
Problem 1: Menu
# of items: balance
Prices
Coherent Theme: Tour guide, build around popular items
Problem 3: Unique Selling Point
Why should I come here?
Burger King: have it your way
Farm to table
HINT! Complete an internet search of your business type to identify “the three biggest problems in your industry.

3. INDEPENDENT BUSINESS PLAN Solutions
Feature
a factual statement about the product or service being promoted
features aren't what entice customers to buy.
Feature
Batteries included
Benefit
product is ready to use out of the box
Solutions/Results
I'll never have to see the crushed look on my child's face when his toy won't work because I forgot to buy batteries.
Benefit
answers the question "What's in it for me?“
the feature provides the customer with something of value to them.
What are the top 3 features of your product or service?

4. INDEPENDENT BUSINESS PLAN
KEY METRICS
Metrics for industries vary. Research “key metrics for (your type of business) industry”
Metrics for new businesses are also unique. Research and identify key metrics for startup business.
Once you have identified and understand the key metrics for your industry, review the link below about “business dashboards.
Shape this section based on using a business dashboard to monitor key metrics
Businesses rely on metrics to measure performance over time and monitor progress towards achieving key goals.

5. INDEPENDENT BUSINESS PLAN UNIQUE VALUE PROPOSITION
Make a great first impression
Differentiate your business
Key to the marketing of your business
Must be more than a slogan
What is the single, clear, compelling message that states why your product/service is different and worth buying?
20 Value Proposition Examples & What You Can Learn From Them

6. Independent Business Plan Competitive Advantage
What about your business cannot be easily copied or bought
How are your different than the competition
Do you have a patent or the exclusive rights to use a product in a select area?
Why are you better than the competition?
Expand your unique value proposition into a “how to”
Summarize why your ideas will make your proposed business stand out in a crowded marketplace!

7. Independent Business Plan
Channels
Distribution
What are your products/services pathways to customers?
Review your revenue sources (brick & mortar, web base, catalog, etc.)
Communications
Let customers know about your products!
Be creative and use any means available
Advertising, websites, social media, events, etc.
Tie in to target consumer and distribution
How do customers get your product/service?

8. INDEPENDENT BUSINESS PLAN CUSTOMER SEGMENTS
Primary Customer?
Early Adapter?
Secondary customer?
Customer Profile/Snapshot
Demographics
Psychographics
Why they buy
How often they buy
Loyalty
Perceived value
Research your industry for business similar to yours-who are for their customers?
INDEPENDENT BUSINESS PLAN
CUSTOMER SEGMENTS

9. Independent Business Plan Cost Structure
What Are Customer Acquisition costs?
How much does it cost for you to acquire a customer?
Research what it is, “how to”, average customer acquisition costs for your industry
What are the distribution costs?
Costs to put product in customers hands
Transportation to your site/storage/ delivery
Research the average costs to your industry
What are the human resources costs?
People costs
How many employees will you hire?
acquire/train/ evaluate/pay
Research the average costs to your industry
Additional Costs?
Are there any special costs to operate your business that are just in your filed?
Independent Business Plan

10. Independent Business Plan Revenue Streams
What is the revenue?
How will your business make money?
List and explain all sources/methods your business will make money!
What is the revenue model?
Transaction revenue model
Recurring Revenue Model
Service Revenue Model
What is the gross margin?
Gross margin is a company's total sales revenue minus its cost of goods sold, divided by the total sales revenue, expressed as a percentage.
The higher the margin the better
What are the life time values?
How often does the average customer purchase g/s from you per week? What is the average purchase amount? (52 weeks x average purchase)