Essential Elements of the Business Plan

Essential Elements of the Business Plan

Mario Esquer Essential Business Plan

Essential Elements of the Business Plan

Here are the essential elements of the business plan used to ensure success:

Here’s what to consider when defining your value proposition:

  1. Define the product you’re trying to sell.
  2. Write a list of other brands who are offering similar products.
  3. For each of those brands, pretend you are a loyal customer and take note of what you think they are — and aren’t — doing well.
  4. As you conduct your research, be on the lookout for market gaps — or areas that those businesses aren’t serving.

To figure out your ideal customer, ask yourself:

  • Who exactly are you trying to target?
  • Why would they be interested in your products?
  • What does a normal day look like for them?
  • What makes them happy?
  • What frustrates them?
  • What do their finances look like? For example, what are their typical purchases, and how much do they spend on those items?
  • What makes you different from other brands? How do you better serve your ideal customer? Once you have a solid understanding of what differentiates you, you’ll have the crux of your business figured out.

Ask yourself:

  • How will you service all of your customers repeatedly?
  • How much money will you need to do that?
  • How will you scale your business to an increasingly high volume of customers?
  • How will you leverage their interest and loyalty to build your audience further?

Consider these aspects when coming up with a social media marketing strategy:

  • What platforms will you post on, and when? My recommendation is to post on more than one platform (i.e., Facebook, Instagram, Linked in, TikTok) at least three times a week on each.
  • What content will you post? How will it provide value to your target audience, or grab their interest?
  • How much time will you spend engaging directly with comments? I suggest setting aside as much time as possible to give your followers one-on-one attention.


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