Instructions for building the latest business plan for 2024

A business plan with in-depth technical research will help businesses accurately orient their future development path. The 5-step plan below will help businesses complete their plans most effectively.

1. Overview of building a business plan

Building a business plan is an important step to starting and steadily developing a business. A business plan is a roadside post for the successful operation of a business.

1.1. Build a business plan

A business plan is a document presenting specific goals, strategies, and instructions. It helps businesses determine the current actual situation, what needs to be done or potential risks and opportunities. In addition, it is also an important document that helps convince consultants or stakeholders about the potential, feasibility and professionalism of the project and business.

A business that does not develop or develops a missing business plan will easily be redirected. This can cause compounding setbacks, losses, or unwanted withdrawals that create unachievable goals.

1.2. Build a business plan on the Amazon electronic platform

Currently, the trend of online business on e-commerce platforms is growing strongly. Among them, the world's largest e-commerce platform - Amazon, is attracting a lot of interest from international sellers. Building an effective business plan when expanding into this new market will help restaurants sell their business results and earn the desired profit.

2. Build a business plan on Amazon in 5 steps

Building a business plan requires thorough benchmarking of specific and sequential tools. The 5 basic steps to create a plan are as follows:

2.1. Determine the type of search engine identified

The business vision is the guiding principle, allowing businesses to clearly and accurately define the entire business plan. Vision is a source of inspiration for employees, unifying everything to develop together along a certain roadmap.

From the vision will develop goals. To achieve the set goals, business owners and employees need to strive to complete each goal excellently.

For example: L'oreal's vision: "Creating beauty that moves the world".

2.2. Market division, competition and customer needs

When building a business plan, analysis is a very important factor. To complete the business plan index, businesses mainly need to analyze the following issues:

Field zoning

When conducting market analysis, companies need to note the following three important things:

Field field

Allows determining the possibility of developing houses for sale. The larger the market, the more established competitors are, the more difficult it is to conquer. Sellers should look for niche markets that have demand and do not have major competitors.

Potential selling price range

Allows determining the price range available to customers for the product, balancing production costs as well as determining market demand. This is provided to build more display plans as the tool can increase products, position products, position.

Tax

- Legal law: With mandatory taxes, businesses need to have strict techniques to operate smoothly and safely

- Main policies: Many countries have preferential policies for startups or tax reductions for small businesses. Sellers with these favorable conditions will have reduced operating costs.

Competitive analysis

Researching and analyzing the skills of salespeople is extremely important in building a business plan. Because Amazon is a multinational e-commerce platform, companies will have many competitors.

xay-dung-ke-hoach-kinh-doanh-4 Researching competitors helps sellers identify competitive advantages

Analyze customer needs

This is a prerequisite step in the journey of building a business plan to create suitable products. From there, the seller easily conquers customers, develops the brand and increases revenue and profits. Vendors may collect research data from:

Questions customers leave in the Q&A section (Q&A)
Customer reviews about the product

2.3. Product planning

After carefully researching the market, sellers need to identify potential products as well as consumer needs. From there, choose the appropriate development direction:

Create new products: solve unanswered needs
Upgrade existing products: create a superior version that meets unaddressed needs

xay-dung-ke-hoach-kinh-doanh-5 Issues about business products that need to be kept in mind when building a business plan

2.4. Prepare human resources apparatus

Amazon provides a variety of sales methods to help businesses conveniently choose the method that best suits their actual resources. Allocating appropriate human resources during the business plan development stage is also easier.

Amazon currently owns 4 business forms with many unique advantages and disadvantages. Among them, FBA (Fulfillment by Amazon) is the most popular type among sellers. This is a business method suitable for small and medium enterprises and start-ups that do not have good development resources.

In addition, the remaining 3 forms including FBM (Fulfillment by Merchant), Dropshipping and Private Label are chosen by many large businesses. Because these are business models suitable for sellers with strong and stable resources.

xay-dung-ke-hoach-kinh-doanh-6 According to Amazon, up to 89% of sellers prioritize using Amazon FBA

2.5. Financial planning and costs

Amazon is an international e-commerce market, so selling on this platform will incur more costs than when doing business domestically. Therefore, when building a business plan, sellers need to carefully research the types of costs that may arise to balance their financial plan, ensuring they do not exceed the set budget.

3. Some business plan samples

Below are some samples that sellers can refer to when building a business plan. Click here to receive the Business Plan Template.

Building a business plan will be simpler with a number of available templates

4. Conclusion

Building a business plan will help you get a strong start and develop a sustainable business on the Amazon e-commerce platform. But in order for the company to always grow effectively, businessmen also need to continuously research and adjust strategies to suit the market and customers.

Accompany businesses to sell effectively on Amazon. Connect with us here to receive free 1-1 consultation from AGlobal's leading experts.

AGlobal - Amazon's account management, advertising and education partner in Vietnam, helping more than 200+ units export goods simply, streamlined and effectively.