Creating a Winning Business Plan: The 30 60 90 Days Method
When it comes to starting a new business venture, having a solid business plan is key to success. But how exactly do you go about creating a winning business plan? One popular method is the 30-60-90 days plan.
The 30-60-90 days plan is a flexible and effective way to develop a comprehensive business plan in stages, each with a specific focus. The first 30 days are dedicated to defining the business concept and researching the market, the next 60 days are focused on outlining the strategy and developing a marketing plan, and the final 90 days are used to implement all the plans and strategies.
Let’s take a closer look at each stage:
The first 30 days: Define the Concept and Research the Market
This stage is all about understanding the business, its target audience, and the market in which it operates. It involves conducting market research to identify the needs of your target audience and assess the competition. You will also need to clearly define your unique selling proposition, vision, and mission statement. This stage lays the foundation for your business plan by defining the business idea and identifying the market pain points you want to solve.
The next 60 days: Outline the Strategy and Develop a Marketing Plan
In this stage, your business plan takes shape as you develop a comprehensive strategy for your startup. You will define your target audience more precisely and create a marketing plan that includes pricing of your products or services, distribution channels, and promotional activities. Your marketing plan should take into account the feedback you received in the research phase while staying true to your unique selling proposition.
The final 90 days: Implement the Plans and Strategies
With your business concept, market research, and marketing plan in place, it’s time to execute the plan and turn your ideas into reality. The final 90 days are all about taking action, launching your business, and starting to reach out to potential customers. This phase includes setting up your business structure, creating a brand image, and ensuring that you have all the necessary resources to operate. You will also track progress to measure the effectiveness of your plans and adjust them as needed.
Conclusion: Key Takeaways
By using the 30-60-90 days plan to create a comprehensive business plan, you will have a solid framework to follow, allowing for a systematic and structured approach to starting your business venture. This method provides the flexibility to adjust your plan based on research and feedback received throughout the process. Don’t forget to track progress and measure results constantly to ensure that you are on track to success.
In summary, creating a winning business plan is the foundation of any successful startup. The 30-60-90 days plan is an effective way to break down the process into manageable stages and develop a structured approach. Remember to stay true to your unique selling proposition and market research, and be adaptable to adjust your plan as needed.
