Every time an entrepreneurial project is started, a plan must be made that contemplates the strategy of the company. Crowdfunding campaigns are no exception, that’s why making a business plan is key to achieving the goals of your campaign.

But … What is a business plan?

A business plan is a document where you can see the strategy of your company, that includes: the market to which your idea is directed, the objectives of your company and the process to achieve them, the organizational structure and possible obstacles and their respective solutions

For many, making a business plan can be a tedious task, but the reality is that for a group of entrepreneurs with a well-defined idea, doing a business project will be a simple task. Also, that will help them to understand a lot in the objectives of your company.

The importance of a business plan in your crowdfunding 1

In the case of crowdfunding, we must understand that it is a great alternative for raising funds, but it is not a magic solution to problems. It needs strategy and planning.

When developing a business plan, the following questions are asked:

  • Who is your target customer?
  • What problem or challenge does the product solve?
  • What value does it deliver?
  • How will it reach, acquire and maintain customers?
  • How will you define and differentiate your offer?
  • How will you generate income?
  • What is your cost structure?
  • What is your profit margin?

Here we leave you the importance of answering these questions through a business project for your campaign

Helps to solve problems

No product is perfect, there are no exceptions, but what is possible is to overcome any type of inconvenience. As explained above, one of the objectives of business planning is to detect problems and find solutions.

If you do not think about the problems that the project may have, it is very possible that a defective product is delivered or that the desired goal is not reached. It is best to take time to analyze all the strengths and weaknesses of your idea.

What is certain is that any idea can be financed with crowdfunding, so do not hesitate to finance your product in a collective financing platform.

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It will tell you how much money you really need

One of the parameters that are defined in the planning are the monetary aspects. The problem is that emerging entrepreneurs think that the only investment needed is production costs, but in reality the costs go beyond, are the costs of shipping, the salaries to other collaborators, the waste of material, between others.

Writing a business plan will help you detect all the potential costs so you can calculate how much money you need to start your business. Try to include in this part the reward system that you will offer your micro-investors.

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Generate down-to-earth expectations

It is very easy to fall in love with your own idea, especially when it has just happened, so expectations may be very big or not real. The correct thing is to lower expectations and analyze the circumstances of the real world.

But that’s what the company plans are for, so you can design a series of measurable objectives. It also guides you how to fit into the market that you will compete with, for this you need to for a research process to know the competition, the obstacles and how to deal with them.

Goal Crowdfunding

Know your target 

Our crowdfunding campaign must be placed in the market, that is why it is important to recognize your target market, with the purpose of generating strategies aimed at this population. Through a business plan you can capture all these details.

It should be noted that within the population of your crowdfunding are the collaborators that will lend you the funds to carry out your venture, so it is extremely important that a strategy be developed based on their interests and wishes.

Market Crowdfunding

A crowdfunding campaign needs a lot of investment of time and dedication, the better the planning of your project, the more chances you have to succeed. Remember that the big businessmen did not do it overnight, but they put a lot of effort into their projects to be able to reach them.

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Planning will take you far