The first Lean Plan takes just a few hours to do or lessand a monthly review and revision can take only an hour or two per month.
Depending on what you're using it for, a useful business plan can be any length, from a scrawl on the back of an envelope to, in the case of an especially detailed plan describing a complex enterprise, more than pages.
A perfect example is the company Red Bull. Industry trends show cycling has risen at a more rapid rate than most other recreational activities. Before you start a business you must be sure there is a viable market for what you plan to offer. A promotion plan details how you plan on communicating with your prospects and customers.
Are competing businesses growing or scaling back their operations? For example, you may sell your product at, or even below, your cost, but require a much more profitable maintenance or support contract to go along with the purchase.
Are you the low-price solution, or are you the premium, luxury brand in your market? What segment of the market do I plan to target? Research is key here, obviously.
If so, how will you accomplish this task? This could include the number of sales leads generated, the number of page views to your web site, or any other critical metric that helps determine the health of your business.
Think about your business and your industry, and if the following conditions exist, you may face competition does the road: The industry enjoys relatively high profit margins Entering the market is relatively easy and inexpensive The market is growing--the more rapidly it is growing the greater the risk of competition Supply and demand is off--supply is low and demand is high Very little competition exists, so there is plenty of "room" for others to enter the market In general terms, if serving your market seems easy you can safely assume competitors will enter your market.
For the most part, service companies can skip this piece and move on.