6/17/2021 Tip: Your Business Plan is a Marketing Document | Growthink

6/17/2021 Tip: Your Business Plan is a Marketing Document

Today’s Quote

“A business absolutely devoted to service will have only one worry about profits. They will be embarrassingly large.”
~ Henry Ford

 

Today’s Tip

One of the key goals of your business plan is to convince lenders and/or investors to fund you. As a result, you need to think of your business plan as a marketing document.

In brief, think of your business plan as a brochure versus a product manual. A brochure gives high level features and benefits and gets people excited. Conversely, a product manual provides tons of details (which are often boring) and is generally hard to read.

Use your brochure/business plan to excite the reader so they agree to meet with you. During the meeting, you can provide additional details they want to know.

 

Today’s Resource

The Fastest Way to Finish Your Business Plan

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  • Raise capital
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Trivia

Today’s Question: What are the street lights in Hershey, Pennsylvania designed to look like?

Previous Question: What were Kleenex tissues marketed as when they were first introduced in 1924?

Answer: Cold cream remover.  

Women used cold cream for face care.  They needed something that would be sensitive on their noses when trying to clean it.  Then it was realized that it could really help when people were dealing with colds and allergies.  

How do your customers really use your product? Have you ever watched them use or consume it? Paying attention after the sale (part of market research) will alert you to additional needs that you can satisfy. 

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