BUSINESS PLANNINGPART 1

Lesson Plan for New Businesses and BrandsPrepared by Komards NFTS

OVERVIEW & PURPOSEThe purpose of this lesson is to help you in the development of a business plan. If you are in the web 3 space with an NFT collection, investing in Crypto currencies, or even the metaverse you are a business. As such you need to make sure you are operating with your best foot forward. To do that you need to make sure you have a thorough and completed business plan. We are here to help with that! WHAT IS A BUSINESS PLAN?A business plan is the foundation of your business according to the https://www.sba.gov/business-guide/plan-your-business/write-your-business-plan (Small Business Administration) in the United States.

According to https://www.investopedia.com/terms/b/business-plan.asp (Investopedia) a business plan is a document that defines every possible detail of your business, your goals, and how you plan to achieve them.

For those of us that are in the web 3 space we know and often execute roadmaps for our collections and projects. The business plan is the same thing however, it's directed at your overall business. Additionally a business plan will also show you any potential obstacles that you may run into in the future.WHAT IS IN A BUSINESS PLAN?There are 6 types of Business Plans according to the https://smallbusiness.chron.com/6-types-business-plans-2591.html (Small Business Chron). The 6 types are as follows:A Start-upThis type of business plan will document and show sections that describe the company, the products and or services you will provide, the market and evaluations of the target market and the team and projected team members. If you're looking for investors they will also require a financial analysis describing all financial aspects of the business including potential incomes, expenditures, profit and loss statements and more.An InternalThe internal business plan is designed to target the company internally to allow you to know how the company will operate on an internal level. It will describe the company's current status, the profitability, operating costs, and if the company has or will take on any capital investments, how those will be repaid. This plan often includes a market analysis as well as the target or ideal consumer, and the market's impact on company profit or income.StrategicThis plan is all about showing off the strategies the company will be using to achieve company or business goals.  It quite literally would be much like a roadmap as most of you know for NFT projects in web 3. Most of the time this type of plan includes several key elements of business such as; the company's mission statement, the company vision, critical success factors, brand and company objectives, and the strategies the company will use to achieve the objectives of the company.FeasibilityThe purpose behind a feasibility plan is to help you to determine if the proposed business is feasible. It will help you in answering questions like can the business survive or what kind of growth can be expected and even will the company be able to generate a profit. With regards to what is included in this type of plan it will generally include sections for describing the need, the ideal consumer and target with the demographics of it, and any required capital to get started.OperationsOperations business plans are generally held for internal use. These business plans show the details of how you plan to operate the business from within. It will show brand and company deadlines, upper management expectations and roles, as well as team member or employee expectations and compensation details.GrowthA growth business plan is to show how the business and brand will grow as well as all associated costs of growth and projected revenue streams from the growth plans. It will also include detailed strategies of how you plan to grow. If you are seeking additional funding and