If you are planning or thinking about creating an online business this article will teach you step by step, how to develop your business plan for the same.

Developing a business plan is an analysis of the different factors involved in the implementation of a project, whether building a new business or a new business promoted by an existing company.

The business plan itself has two purposes. First, is an analytical tool for project promoters themselves. Second, is an excellent cover letter to link up with others, both for finding new partners, financial support to establish contacts with potential suppliers and customers, among other things.

How to present the business plan?

Given that the people they are intended plan may have little time to analyze it, we recommend that the presentation is well structured and clear and concise. Here, we provide a script that can be used as a model for developing the business plan. It has sought to gather the most relevant factors for analysis of a project on the Internet.

1. Executive Summary:

1. Business Idea
2. Management team and business promoters
3. State Business Development
4. Plan implementation
5. Products / Services: differentiation from competition
6. Target
7. potential market size
8. competitive scenario
9. Required Investment
10. Overall rating of the project: innovative aspects and objectives.

The executive summary should serve to capture the interest of potential investors. For this reason, it should contain the most relevant aspects of the business plan summarized as briefly and concisely as possible (2 to 3 leaves). At all times, be carried out to motivate the recipient to continue reading the plan with a high degree of enthusiasm and curiosity.

2. Definition of business:

1. Business Features
2. Product / service offered
3. Value added product / service
4. Competitive Advantages
5. Degree of know-how generated rentabilizable for new projects on the Internet.

Make a description of the characteristics of the business, that is, if a business is B2B, B2C, B2G, E-Commerce, Vertical Portal, etc.. Clearly describe the type of services to be offered or the type of products to be marketed over the Internet, and the value it brings to the audience. Describe the competitive advantages also presented in relation to other products or services existing in the traditional market or virtual. It is important to indicate whether to undertake this business who know how rentabilizable can generate new business in Internet Are eliminates friction by the fact that business is done over the Internet?

3. Target audience and potential market:

1. Target audience
2. Satisfying needs and motivation of your customers
3. Customer Segmentation
4. Market size and potential market
5. Characteristics of the sector / subsector

Indicate the target or target audience to which it will offer or sell the product or service, what are the needs met and the motivation of your customers use the service.

Have you provided the targeting capabilities of your business? What technical requirements? This Internet offers the ability to segment customers based on multiple criteria. Report for each customer segments: projected sales, purchasing decisions or use of the service, sales, success factors. Also indicate which segments are most attractive and why. Indicate the size of the geographic market to which the goods or services offered, taking into account factors that may limit the market (eg, language, culture, customs, etc). We must also indicate the growth expectations are and the key factors of success.

Finally, indicate the main features of the sector / subsector in which you operate. Are there high barriers to entry?

4. Marketing Plan:

1. Competitive Analysis
2. Business objectives
3. Key figures nonfinancial
4. Promotion and advertising strategies online / offline

Analyze in depth the competition both domestically and abroad making a comparison based on various parameters: products and services, sales, pricing, market share, growth, page views, users, branding and positioning strategies marketing, competitive advantages, among others.

Analyze to what extent the company can affect the entry of new competitors on the Internet and what strategies are planned to use if this occurs. It is important to take into account the competence of traditional and Internet businesses, if a similar project or if in the future Internet will be the only way of doing business in your industry. Please indicate the business objectives in the short, medium and long term. Quantitative forecasting 24 months with the objective of page views, users, unique visitors, competitors. Indicate the non-financial variables most relevant to the business. Finally, according to preset business objectives describe what promotional strategies will be used to influence demand and achieve sales forecasts. Perform an assessment of the marketing cost for the next 24 months.

5. Strategies:

1. Marketing Strategy
2. Positioning strategy
3. International expansion strategy

Establish marketing strategy. Will it be necessary a significant marketing effort to publicize your business? How will you position your company regarding current competitors? What pricing strategy will be used aa? Are you going to add value for free? Where we collect for our products or services? Do you get your business eliminate friction? If you plan an international expansion strategy indicate what is to be used. It is also important to indicate what type of strategic alliances are to be made and for what purpose.

6. Technology requirements:

1. Technology required
2. Hardware required
3. Software required
4. Another key technology for business
5. Technology cost assessment

First, describe the technology that will be required to develop the business and whether it will be one of your main competitive advantages. Indicate both the hardware (servers, computers, printers) and software and licenses. Set technical strategy planned for the medium term. Have you provided the optimal sizing technology based on expected growth in page views / users? Making a total cost assessment in technological resources.

7. Management team and internal organization:

1. Team profile
2. Organizational Chart
3. Your business objectives
4. Controlling

One aspect in which a potential investor, partner or customer is fixed in the composition of the management team, their skills and the degree of complementation of its members. It is important to pre-set functions and units that will have each of its members. Make a chart of the company and profiles define what workers are going to integrate and responsibilities. Establish a forecast of the evolution of the workforce for the 24 coming months. Are you going to use virtual template, What infrastructure needs your team and your technical system? Define the objectives of the company’s short, medium and long term, and describe the planning system and criteria for evaluating results to be obtained. Finally, describe how information systems, both internal and external, will be used to make decisions.

8. Business model and financial business plan:

1. Initial Investment
2. Financing Plan
3. Sources of Income
4. Amount of revenue forecast
5. Volume forecast expenditure
6. Forecast P & L account
7. Cash-flow forecast
8. Pension balances
9. Equilibrium point
10. Valuation of the company

Indicate the initial investment required and how you plan to finance it. When estimates require a second round of funding? In that case, what kind of partner (technological, financial, etc.) you prioritize?, Do you have identified potential sources of business income? Indicate the volume and timing of income and expenses. Have you done an analysis of cash flow necessary? Indicate which costs are fixed and which are variable. When you get estimates reach the breakeven point? The forecasts should be made at least for the next 24 months. For predicting the profit and loss account and cash should be monthly.

9. SWOT Analysis

1. Market analysis: opportunities and threats
2. Internal analysis: strengths and weaknesses

The current market situation can positively or negatively influence the success of your project. Similarly, the current situation of your company and the team can influence its future evolution. SWOT analysis can detect both the opportunities and threats offered by the current market for your business, and the strengths and weaknesses of your company and people that comprise it.

Luis Carlos Chaquea traditional entrepreneur since 1988 and online since 1998, founding partner of Interlat group and its brands: Unionlideres.com, mercar.org, mercarformacion, com, and emercadeo.net mercarnew.com. National and international lecturer, teacher at the Universidad Jorge Tadeo Lozada, Universidad de la Sabana, Universidad Pontificia Bolivariana.