After Lisa made an initial business plan and designed it so that it matched the rest of our work, we all got together to discuss the content and to see what else we could add.
Lisa has also looked at pricing [see blog post], as one of our unique selling points is that we can offer a price straight away. By researching what other companies cost, what our time is worth, and the price of printing, we now have a pricing plan.
Market Research
There is a section about market research that we have left out as it is not 100% accurate, whereas the rest of all the content has been thoroughly researched and is accurate, so we don't want to put this in the business plan. However, I am recording it here so it can be seen that we have considered market research.
Trends in your chosen market:
- Older/smaller businesses are falling under as they don't know how to promote themselves effectively
- These businesses don't have enough money to spend on high end design agencies
- Businesses are going digital and taking over social media, so they need a company to do this for them
- Lots of new businesses are starting up and so will need an identity
How you know this:
- We have spoken to those looking to start a new business, such as other students from the college
- We have looked at websites with information about businesses on them, such as the design council and business link
The customer groups you will be selling to are:
- Small to medium sized Businesses
- All industry sectors
- Business start ups
- Public Sector
Your customer research has shown what your customers want is:
- Affordable packages
- Fixed price
- Experience, knowledge
- To see a portfolio of work
- To feel they are in safe hands
- Friendly team who cares about their business
How you know what your customers want:
- We have spoken to those who own their own businesses
- We should have done a survey to accurate honest answers from target customers
Final Plan
After making these changes, here is our final business plan:
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