online sales business plan

How to Write an Ecommerce Business Plan [Examples & Template]

Published: January 11, 2024

If you have a promising idea for an online e-commerce business , it’s important to create an e-commerce business plan to ensure your vision has enough stock to be profitable.

Having a business plan for your online store will help you define your target market, establish your monthly and quarterly sales goals, and increase the likelihood of long-term e-commerce success.

In this post, we’ll go over an online store business plan and how you can create one for your e-commerce startup. Let’s get started.

What is an e-commerce business plan?

An e-commerce business plan is a document that outlines your business and its goals, analyzes your industry and competitors, and identifies the resources needed to execute your plan. It also lists the e-commerce retailers you’ll use to distribute your products and the marketing strategies you’ll use to drive sales.

Whether a company operates as a startup or has years of operations and growth under its belt, an e-commerce business plan is essential for evaluating a business and determining areas of improvement.

An e-commerce business plan is essential, with increasing numbers of shoppers conducting business online. It's estimated this number has reached over 2 billion . An e-commerce business plan keeps you organized and is useful when seeking investors who need to understand your company.

So, let’s dive into some examples of e-commerce business plans and what goes into writing one using our free template .

Free Business Plan Template

The essential document for starting a business -- custom built for your needs.

• Outline your idea.
• Pitch to investors.
• Secure funding.
• Get to work!

You're all set!

Click this link to access this resource at any time.

E-commerce Business Plan Template

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Sales | How To

How to Create a Sales Plan in 10 Steps (+ Free Template)

Published March 9, 2023

Published Mar 9, 2023

REVIEWED BY: Jess Pingrey

WRITTEN BY: Jillian Ilao

This article is part of a larger series on Sales Management .

• 1 Establish Your Mission Statement
• 2 Set Sales Goals & Objectives
• 3 Determine Your Ideal Customer
• 4 Set Your Sales Budget
• 5 Develop Sales Strategies & Tactics
• 6 Implement Sales Tools
• 7 Develop Your Sales Funnel
• 8 Create Your Sales Pipeline
• 9 Assign Roles & Responsibilities
• 10 Monitor Progress & Adjust Accordingly
• 11 Examples of Other Free Small Business Sales Plan Templates
• 12 Sales Planning Frequently Asked Questions (FAQs)
• 13 Bottom Line

Sales plans enable businesses to set measurable goals, identify resources, budget for sales activities, forecast sales, and monitor business progress. These all contribute to guiding the sales team toward the company’s overall strategy and goals. In this article, we explore how to create a sales plan, including details on creating an action plan for sales, understanding the purpose of your business, and identifying your ideal customers.

What Is a Sales Plan? A sales plan outlines the strategies, objectives, tools, processes, and metrics to hit your business’ sales goals. It entails establishing your mission statement, setting goals and objectives, determining your ideal customer, and developing your sales strategy and sales funnel. To effectively execute your sales plan, assign roles and responsibilities within your sales team and have metrics to measure your outcomes versus your goals and objectives.

Ten steps to creating an effective sales plan

Download and customize our free sales planning template and follow our steps to learn how to create a sales plan to reach your company’s revenue goals.

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Free Sales Plan Template

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💡 Quick Tip:

Once you’ve created a sales plan, give your sales team the tools to execute it effectively with robust customer relationship management (CRM) software.

Use a CRM like HubSpot CRM to help your sales team collaborate on deals, develop sales reports, track deals, and create custom sales dashboards

1. Establish Your Mission Statement

A mission statement summarizing why you’re in business should be part of your action plan for sales. It should include a broad overview of your business’ products or services and your brand’s unique selling proposition. For example, you wouldn’t say, “We provide customers with insurance policies.” Instead, you might frame it as “We provide customers with cost-effective financial risk management solutions.”

It’s essential to fully understand your unique selling proposition before creating a mission statement. This allows you to learn why you’re different from competitors in your industry. It also helps you determine how your unique proposition suits a niche market better.

Steps on how to create a unique selling proposition

For instance, using the same insurance example above, you may realize specific markets are easier to sell based on that selling proposition. Therefore, it’s a good idea to narrow in on your mission statement by saying, “We provide startup businesses with cost-effective risk management solutions.”

2. Set Sales Goals & Objectives

Once you have summarized why you’re in business in a mission statement, begin setting sales goals . Typically, business goals will include one year, but may also include three- or five-year projections.

Steps on how to set sales goals

Here are a few options for how to set sales revenue goals for your business:

• Set sales amount: You may have a specific amount in mind for a sales goal. For instance, you may determine that $200,000 is a reasonable sales goal based on prior sales and your company’s ability to generate new business.
• Desired profitability: First, calculate the total anticipated expenses for the set time period to find the break-even point. From there, you can calculate how much revenue your team needs to bring in to make a certain profit margin. For example, if annual operating costs are expected to be $100,000, and you want to make a 30% profit, your sales goal is $130,000.
• Projected sales forecast: Based on an industry-standard or estimates you attained by running a sales forecast, you may find it’s better to use a projected sales forecast as your sales goal.

Pro tip: Projecting sales can be challenging without a suitable sales forecasting model. Our free sales forecast templates help you create simple, long-term, budget-based, multi-product, subscription-based, and month-to-month business sales forecasts. Some customer relationship managers (CRMs) like Freshsales have sales goal-tracking functionalities that allow you to set and assign sales goals for your team.

Five-year sales forecast template example (Source: Fit Small Business )

Sales goal tracking in Freshsales (Source: Freshsales )

Sales goals must reflect new business revenue and sales from existing or recurring customers. Then, you must add specific sales objectives that identify and prioritize the sales activities your team needs to complete to meet sales goals. This creates an objective way to measure success in hitting goals at all levels: organizational, sales department, team, and individual sales rep, which is an essential part of sales management .

For example, imagine your total revenue goal is $200,000 in year two and $300,000 in year three. You then add an objective, such as stating you want your business’ revenue from existing customers to grow 15% in year three. This can be measured by evaluating your percentage of revenue from existing customers in year three compared to year two.

3. Determine Your Ideal Customer

Determining the ideal customer or target market is the next step of your business plan for sales reps. It may have been accomplished when you developed your mission statement, but also when you set your sales goals and discovered how broad your market needs to be to reach them. Describing your ideal customer helps dictate who you’re selling to and your selling approach.

One way to establish your ideal customer is by creating a series of unique customer profiles . Each profile specifies key demographics, behaviors, interests, job positions, and geographic information about one of your ideal buyer types. Based on your customer profiles, you can then develop more targeted marketing strategies for lead generation and nurturing to move leads through the sales process more efficiently and close more deals.

Pro tip: Making a customer persona can be challenging, especially if it is based on the wrong data or if you just focus on the demographics. Check out our article on creating a customer persona to help you define your company’s ideal buyer types and guide your lead generation and marketing activities.

4. Set Your Sales Budget

After establishing your objectives and identifying your ideal customer personas—and before developing your actual strategies and tactics—you must identify a sales budget to work with. It should include estimated expenses for salaries, travel expenses, and the cost of any software tools or service providers used to help with sales and marketing. While these are meant to be estimates, research and due diligence should be done to avoid financial errors.

One way to set your sales budget, particularly for software tools and services you may be interested in, is to create and issue a request for proposal (RFP). Issuing an RFP allows you to post a summary of your needs to solicit proposals on potential solutions. In addition to providing accurate budget estimates from various qualified vendors and contractors, it may also help you discover cost-effective or high-performing options you were previously unaware of.

5. Develop Sales Strategies & Tactics

A sales strategy explains how you plan to outsell your competitors and accomplish your sales goals. It defines specific, detailed tactics your team will use to pursue your sales goals. These may involve using Google Ads, cold calling, and drip email marketing campaigns as part of a lead generation strategy. Available strategies differ depending on your company’s resources, skill sets, sales operation, and product or service offerings.

Strategies and tactics should be personalized for your ideal customers based on their unique interests, behaviors, and the best ways to connect with them. For example, some customer profiles show your ideal buyer generally only makes purchases based on trusted referrals. In this case, you could implement a referral strategy that provides incentives to generate more customer referrals .

Plus, different sales strategies will be needed to acquire new business vs keeping existing customers. When selling to existing customers, for example, your strategy could include cross-selling tactics where additional products are recommended based on prior purchases. The short-term cross-selling tactics could require customer service reps to send 30 emails per week recommending a complementary product to existing customers.

For a new business strategy, sales reps might rely on emotional selling methods when using cold calling as a tactic. Instead of product features, cold calling scripts would be geared to evoke feelings that lead to buying decisions. Tactics could reflect the objective of having reps make 15 cold calls each week. They could use a script that opens with a story about how a purchase made a customer feel or how someone felt because they didn’t purchase the product.

Pro tip: Ensuring your strategies are properly executed requires excellent sales leadership and a healthy environment for sales reps to operate in. Our how-to guide for building a positive sales culture shows you how to create an environment that promotes high job satisfaction, low employee turnover, and profitability.

6. Implement Sales Tools

Your sales strategy template should reference the software, hardware, and materials you use to manage the sales operation and make each team member more efficient. One of the most notable tools to include is the customer relationship management (CRM) system . It allows your team to organize contact information, streamline sales tasks, and facilitate communication with customers and leads.

HubSpot CRM , for instance, makes it easy to organize information about leads, contacts, and deal opportunities. Additionally, from a HubSpot CRM lead profile, you can initiate a conversation with that contact by calling, emailing, or scheduling an appointment.

HubSpot CRM contact profile (Source: HubSpot )

CRMs are also used to monitor and report sales progress. For example, many have dashboards and functionality, such as alerts, which make it easy to identify where your team may be underperforming. These could also tell you which leads are most likely to convert and should be focused on. Sales information such as deals closed, revenue generated, and leads created can be presented in a detailed report .

These types of insights can also be shown on the CRM’s system dashboard . Pipedrive is an example of a CRM that has a customizable dashboard that displays both activity information and performance-based data. Activity data include emails sent, received, and outstanding tasks to be completed. Performance-based data, on the other hand, have deals lost or the average value of won deals.

Pipedrive’s customizable dashboard (Source: Pipedrive )

Other sales enablement tools can make your sales team more effective. These include voice-over-internet-protocol (VoIP) phone systems , lead generation platforms, email campaign tools, content creation platforms, and task automation software. These tools can be found within CRM software or through CRM integrations and standalone applications.

In addition to technology tools, sales and marketing templates should be used to streamline outreach initiatives. Scenario-based, premade sales email templates , for instance, allow salespeople to have an email already crafted for their specific situation.

Creating and storing business proposal templates in your CRM also streamlines the contact procurement and business proposal generation process . This way, whenever a prospect says they’d like to receive a quote or you’re responding to a request for a proposal, you already have a customizable template ready to go.

Pro tip: Effective cold calling scripts sales reps can use as a guide when placing calls to new leads is a tremendous sales tool to include in your action plan for sales. Get started using our guide for writing a cold calling script , which includes examples and free templates.

7. Develop Your Sales Funnel

Setting up a sales funnel within your sales strategy template lets you visualize the stages of the customer journey, from becoming aware of your business to buying from it. By creating and understanding the different statuses of your leads, you can track progress and determine how effective you are at converting leads to the next stages in the funnel.

Using a sales funnel with conversion rates also makes it easier for you to adjust your sales strategies and tactics based on how effectively you’re getting leads through the funnel. For instance, let’s say you have 100 leads in the awareness stage of the funnel. You decide to cold call 50 of them and write a sales email to the other 50 to qualify leads by setting up a product demonstration.

After each campaign, you find you were able to qualify seven of the leads that were cold-called and only two of the leads you had emailed. Based on these funnel conversion rates of 14% (7/50) from cold calling and 4% (2/50) from emailing, you would likely adjust your tactics to focus more on calling instead of emailing.

Do you need help creating a sales funnel for your business? Our guide to creating a sales funnel explains the step-by-step sales funnel creation process and provides free templates and specific examples.

8. Create Your Sales Pipeline

Once your sales process’ sales funnel stages are identified, develop the sales pipeline stages . These stages include your team’s sales activities to move leads through the funnel. For example, you need to get a lead from the sales funnel stage of brand awareness to show interest in learning more about one of your services. To do this, you could add a sales pipeline activity like setting up a demo or presentation appointment through a cold call.

Adding your sales pipeline to your sales strategy is essential because it describes all the activities your sales reps need to do to close a sales deal. CRM systems like Freshsales allow you to create and track the pipeline stages for each lead or deal within the lead record.

Funnel view of Freshsales’ deal pipeline (Source: Freshsales )

Listing each pipeline stage also helps you identify tools and resources needed to perform the activities for each stage. For example, if you use phone calls to initiate contact with or introduce a product to a lead, you could develop outbound sales call scripts for your team.

After the initial contact by phone, you may use email to follow up after a call and then nurture leads throughout the sales process. As part of your follow-up, create and automate a sales follow-up email template to get them to the next pipeline stage.

The sales funnel shows where a lead is in the sales process. The sales pipeline, on the other hand, lists activities needed to drive leads to the next stage in the sales funnel. Both should be used in your sales strategy when defining the repeatable steps required to generate leads and close deals. Check out our article to learn how to create a winning sales process with insights on both creating a sales process and measuring its success.

9. Assign Roles & Responsibilities

Regardless of the size of your business or sales operation, your business plan for sales reps should include the role and responsibility of each person in the sales team. Each role should have a name, such as someone being a sales development representative (SDR). There should also be a summary of their responsibilities, such as “the SDR is responsible for setting up sales appointments using the activities listed in the sales pipeline.”

Measuring the performance of any sales position is simple through key performance indicators (KPIs). Specific KPIs should be used to measure performance for each role and should be included in your plan. Below are some examples of KPIs that can be used by the members of the sales team and their respective responsibility:

• Sales development representative: Responsible for introducing products and services, qualifying leads, and setting up appointments for the account executive. Performance is measured by calls placed, emails sent, and appointments generated.
• Account executive: Responsible for nurturing qualified leads, delivering the sales pitch , sending quotes, and closing deals. Performance is measured by business proposals sent, the average time in the proposal consideration stage, deals closed, and deal closing rate.
• Customer service representative: Responsible for managing customer needs, handling billing, and managing service tickets by assisting customers. Performance is measured by customer satisfaction, retention rates, and total tickets resolved.
• Sales manager: Responsible for the entire sales operation or team for a specific region or product/service line. Performance is measured by job satisfaction rates of sales reps, pipeline and funnel conversion rates, team sales deals closed, and team revenue growth.

While assigning roles in your plan, a sales rep’s territory could be based on geography, industry, potential deal size, or product/service line, creating more specialization for better results. Our six-step process on proper sales territory management is an excellent resource for segmenting, creating, and assigning sales territories.

This section of the business plan is also a prime spot for individually setting sales quotas for each rep or team needed to hit your organizational sales goals. Sales quotas should be a specific KPI for that sales role and be set based on the experience, skill level, and resources of that individual or team. These quotas should also be based on your organizational, department, and team goals and objectives.

10. Monitor Progress & Adjust Accordingly

Once the strategic business plan is in motion, monitor its progress to make any required adjustments. For instance, while your sales operation is running, you may find certain sales tactics are working better than expected, and vice versa. Your sales goal template should account for using that tactic more, as well as any new sales tools, budgetary changes, new roles, and possibly even a new sales goal.

As in the earlier example, if you found that cold calling was significantly more effective than emailing, reduce or abandon the email method in favor of cold calling. You could also invest in sales tools especially useful for cold calling, such as power dialing using a voice-over-internet-protocol (VoIP) phone system, or hire additional staff to place calls. All of these will be part of your updated business plan.

Pro tip: Focusing on the big picture by creating, executing, and adjusting a strategic business plan is one of the most critical traits of an effective sales leader. For more insights on what it means to be a sales leader and how to become one, check out our ultimate guide to sales leadership .

Examples of Other Free Small Business Sales Plan Templates

Apart from our free downloadable sales strategy template, other providers have shared their version of a free strategic sales plan examples. Click on our picks below to see if these templates fit your business process better:

HubSpot’s free sales planning template helps users outline their company’s sales strategy. It contains sections found in most sales plans, as well as prompts for you to fill out your company’s tactics and information. These include company history and mission, team structure, target market, tools and software used, positioning, market strategy, action plan, goals, and budget.

HubSpot sales strategy template (Source: HubSpot )

HubSpot’s sales goals template with the mission, vision, and story of the company (Source: HubSpot )

Visit HubSpot

Asana’s free sales plan template helps organizations analyze their current sales process, establish their sales objectives, identify success metrics, and plan actionable steps. The sales business plan template is embedded within Asana’s platform, automatically integrating aspects such as goals and measuring them against results or sales performance.

Asana sales plan example (Source: Asana )

Visit Asana

Sales Planning Frequently Asked Questions (FAQs)

What is sales planning.

Sales planning is creating a document that outlines your sales strategy, objectives, target audience, potential obstacles, and tools to achieve goals within a specified period. This may include your daily, monthly, quarterly, yearly, and long-term revenue objectives.

What is included in a sales plan?

A sales strategy plan template typically includes the following key elements:

• Target customers, accounts, or verticals
• Stock-keeping units (SKUs)
• Revenue targets or forecasts
• Strategies and tactics
• Pricing and promotions
• Deadlines and directly responsible individuals (DRIs)
• Team structure and coordination
• Market conditions

What are the different types of strategic sales planning?

The type of strategic planning for sales that you choose for your team ultimately depends on different factors. These include your revenue goals, available resources, the ability and bandwidth of your sales team, and your personal commitment to your plans. Once you have determined the details of these factors, you can choose from these types of strategic sales planning:

• Revenue-based sales action plan template: This is ideal for teams aiming for a specific revenue goal. It focuses on in-depth sales forecasting, improvement of conversion rates, and closing more deals.
• Sales business plan based on the target market: This plan is best for businesses that cater to several markets that are different from each other. In this situation, you must create separate sales goal templates for enterprise companies and small businesses.
• Sales goals plan: This focuses on other goals such as hiring, onboarding, sales training plans, or sales activity implementation.
• New product sales business plan: This plan is developed for the launch and continued promotion of a new product.

Bottom Line

While any business can set bold sales goals, creating a sales plan outlines how your team will achieve them. By following the best practices and 10-step process laid out above, your sales goal template defines what your sales process will look like. It will help establish baselines for accountability and identify optimal strategies, tactics, and the tools needed to make your team as efficient as possible.

About the Author

Jillian Ilao

Jill is a sales and customer service expert at Fit Small Business. Prior to joining the company, she has worked and produced marketing content for various small businesses and entrepreneurs from different markets, including Australia, the United Kingdom, the United States, and Singapore. She has extensive writing experience and has covered topics on business, lifestyle, finance, education, and technology.

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How to Make an Ecommerce Business Plan for Your Startup

Darren DeMatas

February 28, 2024

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In addition to receiving commissions generated through affiliate marketing, we are able to fund our independent research and reviews at no extra cost to our readers. Learn more.

So you’ve decided that you want to quit your day job and start your very own ecommerce empire. That’s great!

But before you become the next Jeff Bezos  (and definitely before you quit your job!), it’s worth spending some time thinking about a business plan. In this article, we’ll dive into the key elements of an ecommerce business plan, which is very different than writing traditional business plans.

Why You Should Create a Business Plan

We know that starting an ecommerce business is exciting, and it can be tempting to jump right in without constructing a business plan. READ: PLEASE DON’T DO THIS.

If you haven’t put your ideas, questions and concerns on paper, then you haven’t given your business model enough thought .

Taking the time to write a business plan might seem like a lot of work, but it can save you a lot of time and money in the long run by better preparing you for potential challenges and opportunities that you’ll face as a first-time entrepreneur. Think of it as a roadmap for your new business venture.

It’s exciting to start your own ecommerce business. However, you want to be well prepared and not jump into anything without having a solid, foolproof ecommerce business plan in place.

After all, you wouldn’t jump out of a plane without a parachute, so why start a business without a safety device in place? That safety device is your business plan.

The business plan is the brainstorming process that ensures your concept and goals are realistic.

This is more than just mental notes. True business plans take your ideas , questions, and concerns and put those in writing.

As you start creating your business plan, you’ll soon understand that it’s more than a single piece of paper with handwritten details on it. It’s a clearly constructed format of how your business will be created, how it will operate, and what you hope the future holds in terms of a successful ecommerce business.

When you write your business plan, be sure to have a target audience in mind. Are you going to look for investors or put a Kickstarter campaign into motion and use this as your descriptive platform? If so, make sure that your business plan contains everything the audience would want to know about your business (and more!). Many traditional funding solutions require a business plan in order to give you capital. However, there are alternative solutions, such as  Payability  that specialize in ecommerce and don’t require credit checks, a business plan, or any complicated paperwork. They can also get you approved in as little as 24 hours.

When your business plan is completed, you should have achieved the following goals:

• Knowledge:  A greater sense of knowledge of the business aspects.
• Resources:  The resources you’re going to need to make your business successful, such as partners, money, employees, etc.
• Road Map: Have clear set goals to take you from the very beginning of your business and onward.
• Viability: In other words, is your business possible? Will you have enough profit margins to keep the doors open long-term?

Now that you know why you should create a business plan, it’s time to move on to how you can create your business plan and get started putting your ecommerce business into motion.

How to Start an Ecommerce Business Plan

At the very beginning of the planning stages, it’s a good idea to develop a framework for your business model. This business model will continue to evolve as you create each section of your ecommerce business plan, so don’t strive for a perfect completed plan on the first try. You will be making tweaks to the plan of certain steps along the way.

There are many ways to sell products online and different business models  to pursue. Research and learn from successful ecommerce business examples in the market. The exact business model you follow will be one that makes the most sense with your resources, skills, and interests.

In order to create the best online business plan with your product in mind, you need to figure out the following things:

What are you selling?

The first step to creating an online business is to learn the absolute basics of what you can sell.

• Physical products: Clothing , shoes, home goods
• Digital products: Software as a Service products, ecourses, ebooks
• Services: Consulting services, home cleaning

Who are you selling to?

• Business-to-Business (B2B): You are selling to organizations, corporations, and non-profits rather than individual customers
• Business to Consumer (B2C): This means you are selling to individual consumers rather than businesses
• Marketplace: You are acting as a middleman by bringing businesses and (B2B or B2C) customers to one website.

How are you sourcing your product?

• Manufacture in-house: You make your product or service in-house
• Third-party manufacturer: You outsource the manufacturing of your product or service to a third-party manufacturer
• Dropship: You partner with a dropship manufacturer. Basically, this means that they make your product, package it and ship it directly to your customer while your company handles the entire customer relationship.
• Wholesale : You buy goods or services from other companies in bulk and re-sell those products on your online store

Additional References

• Entrepreneurship: Business & Marketing Plans
• Small Business and Entrepreneurship
• Entrepreneurship Resources
• Business Plan Resources

Executive Summary

The executive summary will be written according to your goals, and it’s recommended that this is done at the very end of your business plan completion. This will ensure that you include all of the important factors about your business and present your ideas in a concise and complete way.

Some of the features you’ll include in the executive summary include information showing that you’ve done your research, you have concrete sales forecasts, and the main details about your brand.

Business Model

When you’re figuring out your business model, you have to consider four different areas:

• Monetization strategy
• Product/industry
• Target market
• Sales channel

Monetization Strategy

The monetization strategy delves into the methods you are going to use to sell your products.

This strategy will look at different product monetization methods, including white label, private label , affiliate marketing, wholesale, dropshipping, and even selling ads.

Product/Industry

The product industry section is where you summarize your main niche.

For example, “Vegan Skincare Products.”

Target Market

In the target market section, you will write a sentence or so on who your target market, or ideal customer, is in the community.

If you’re selling vegan skincare products, your target customers might be women who embrace the vegan lifestyle and use natural skincare products in their daily beauty regimen.

Sales Channel

The sales channel refers to where you’re going to sell your products.

For example, you might be selling your products on your own website, and this should be entered in this section.

Business Overview

This next section covers your company overview.

This section of your business plan will cover various features of your company, including the following:

• Company type
• Domain name
• Value proposition
• Brand traits

The brand name section lists your business name or brand name.

This is an extremely important aspect of your business plan as it’s what will set the tone for everything that follows.

Pick a brand name that’s simple yet unique and is something that can be used in a wordplay manner, if desired, but not pun-worthy.

Company Type

The company is how your business operates. For example, you might label your business as an LLC , S-corporation, sole proprietor, or some other type of business organization.

The best way to determine how you should categorize your company is to speak to your accountant. There are various tax and legal aspects to forming your business in a certain way.

Speak with the professionals in the company and corporation formation field to determine how to label your company and which company type best benefits your business in a variety of ways.

Domain Name

This section is where you list your domain name.

Choose a domain name that is memorable and embraces the overall traits and features of your business.

And, when choosing a domain name, be sure to think of SEO aspects when doing so. You’ll find out just how much all of these things tie together and ensure a frequently-visited website is the end result.

Keep in mind that with ecommerce, the domain name is just as important as the brand name. Maybe even more so!

Value Proposition

A value proposition is a short, crisp statement that will gauge how clear your idea is. Write this section as if you had one minute to explain your business to a potential investor or customer and then practice it over and over again.

The value proposition can be used on your ecommerce store as your company description.

Here’s a good example: Say you’re looking to start a hiking company called Atlas Hiking Co. which sells premium performance hiking shirts. A possible company description could be the following:

Atlas Hiking Co. is a lifestyle hiking company that produces high-performance hiking shirts for outdoor lovers. Our proprietary SPF40 fabric is one of the lightest fabrics on the market, providing mountain lovers with maximum comfort, both from a breathability and sun-protection standpoint. Our product is made in the U.S.A. and a portion of our profits are donated to preserve national parks around the country.

Pay special attention to all the sensory words !

The mission statement in your business plan is the “why” of it all.

For example, why you started the business, why you are selling the products you are selling, etc., can all be added to this section of your business plan.

You can make this portion as simple or detailed as you like. Just make sure to properly and clearly explain your business mission.

The vision part of the business plan is your “how” in the grand scheme of things. It is the dream you have for your company and the path you’re going to take to realize that dream.

When you write the vision portion of the business plan, think long-term. What are you hoping to achieve, not just in the near future but for the long haul of the life of your business?

Look into the future and plan out where you see your business in 5, 10, even 20 years from now.

This will help you construct the rest of your business plan if you know where you want your business to head, now and in the future.

Brand Traits

The brand traits section is a short section in your company overview.

Basically, in the brand traits section you’re going to want to list three to five words that describe your brand.

Think of your brand personality and describe it using a few separate powerful words.

The personnel section lists all individuals, including yourself, who will be involved in the daily operations of your business. You can create a separate section for a full operations plan or add that later.

Some business owners choose to handle all duties on their own or with a partner, while others will hire individuals to fill the following roles:

• CEO (usually the business owner)
• Management team
• Customer service/logistics
• PR/Social media specialist
• SEO manager
• Advertising manager

Competitive Market Analysis

Here’s a fact you can bank on: there has never been a successful e-commerce entrepreneur that didn’t understand his/her target market cold.

That’s why this section is one of the most important in the entire business plan. It will force you to understand the industry in which you operate, the overall industry analysis and outlook, the existing competition, and your target customer demographic.

Market Segment

The market segment portion of the business plan will help you to put your ideas down on paper, make them more focused, and get your team together.

This area will include your niche selection, target market, and competitive analysis.

Niche Selection

The niche section  provides an overview of your niche, why you selected it, whether there’s a micro niche included, and the type of niche you’ve chosen.

The purpose of this section is to crystalize the ideas that you have and make sure they are understandable and viable.

The target market section covers an overview of your target market plus describes your market segments.

Ask yourself who your  target customer  is (population size, age, geography, education, ethnicity, income level) and consider whether consumers are comfortable with buying your product category online.

When listing the target market information, make sure to mention your target audience size as this is important for ensuring that your audience will be adequately covered.

Competitive Analysis

With the competitive analysis portion of your market analysis, you want to list your market leader and direct and indirect competitors.

After you mention who these entities are, you need to list the characteristics of each one, such as domain name, business model, monthly traffic, and pricing range.

However, before you even get started in writing this section, you need to spend several hours researching your target market.

Here are some of the most efficient ways to research a particular market:

Industry reports

Google is your best friend. Look for any recent industry reports on your market of choice. This will give you a good sense of how much growth the industry is experiencing, why this growth is happening, and what are the largest customer segments. In our example of Atlas Hiking Co., we should research the outdoor apparel market.

Let’s say that through our research of the outdoor apparel industry, we discovered that there was a huge boom in youth hiking apparel. Perhaps parents were increasingly concerned about their kids’ exposure to UV rays while hiking, so they began to spend more money on their kids. We could use this valuable information to guide our business strategy.

There’s only so much you can read online. Go to a nearby store that sells similar products to yours and interview the store representative. The store rep has interacted with hundreds of interested customers, which can lead to thousands of valuable insights! It’s amazing how these insights can translate into a meaningful business opportunity.

Here’s an example:

If I were going into Billy’s Outdoor Store to research the outdoor apparel market, I would probably ask Billy the following:

• What are your best-selling products?
• What are your worst-selling products?
• Find products similar to yours and ask the representative his/her favorite features on products similar to yours.
• How much are customers generally willing to spend on these types of products?
• Do customers make repeat orders of any of these products?
• Do you get a lot of customers that are looking to buy last-minute hiking gear before they go on a hike?

Competition

Create an Excel spreadsheet of all of your competitors. In your spreadsheet, you should have the following columns:

• Competitor Name
• Price point
• Product Description
• Key Features (e.g., fabric, waterproof, slim fit, etc.)

What is the competition missing? Is there a gap in the offering? Where you can add some additional value?

After conducting the competitor analysis, Atlas Hiking Co. might find that the competition’s hiking shirts offer very few features at a low price point, but no one offers a luxury hiking shirt with additional features at a higher price point.

This is just an example of the types of insights one can gain from market research which can drastically alter your business model.

Keyword Research

By using Google’s keyword planner  and trends pages, you can get a good sense of how in demand your product is and whether it’s trending upward or downward. Google is great for a general idea, just don’t bank on it.

Some other keyword tools you can use for keyword research include Ahrefs, JungleScout, and Viral Launch. Check out this list  for more ideas.

Trade shows

Are there nearby trade shows that you can go to? Again, creating connections with other people in your industry is a surefire shortcut to countless hours of reading on the internet. Trade shows are also a great opportunity to talk to competitors, meet manufacturers, and better understand where things are heading in your industry.

Once you finish researching the relevant industry, you should summarize your findings by answering the following questions:

General Industry

• How big is the overall industry?
• How big is the specific sub-industry in which you intend to operate?
• Where has most of the historic growth in the market come from?
• Why is this the right time to enter this market?
• What are the sub-segments that are poised for future growth (e.g., youth apparel)?
• How crowded is the product category with competition?
• How is your competition distributing its product (online, retail, wholesale, etc.)?
• What’s missing from the competition’s product offering?

Products and Offers

So we know we want to sell hiking shirts, but how do you research specific products?

But for some of us, we’re not quite sure what we should sell. To succeed in online retail, you need a product that is trending upwards in a growing niche.

Different types of products

Some of the different types of products include the following:

• Convenience products: Frequent purchase products, little effort on buying
• Shopping products: Less frequently purchased in between purchases, little more effort and planning, shop around
• Specialty products: Strong brand preference and loyalty, will buy no matter what the price

The various types of niches include the following:

• Hobby niches
• Lifestyle niches
• Problem niches
• Weird/embarrassing niches

Existing products

Come up with detailed specifications for each product or service you intend to sell. If it’s a hiking shirt we’re selling, we would want to have:

• Detailed sketches of the shirt
• Fabric weight, materials, type
• Key features (e.g., pre-shrunk, water-proof, SPF 40)

Future product pipeline

What are other products that you have in the pipeline? Perhaps once you’ve successfully sold hiking shirts, you’re able to leverage your manufacturing relationships to provide hiking socks and shorts. Include that information in this section.

The products and services section will cover the various selling categories of items.

These product offerings will include the following:

• Core product

Each product group will have its own purpose in your sales catalog. For example, tripwire is the product that brings customers to your ecommerce store or online marketplaces  while the core product is your main seller.

Knowing what products you’ll include within each section allows you to have a firm grasp on what your main product will be and how the other types of products will work alongside your main product.

This section will also cover the search volume and Amazon pricing range.

You’ll need to calculate your true costs. You have to make sure you don’t overestimate your margins.

To tabulate your total true costs, you need to write down the costs in the following areas:

• Target price
• Supplier cost of the product
• Total cost per unit
• Net profit per unit
• Profit margin per unit

Once you complete the pricing portion, you’ll have everything on one sheet and readily accessible whenever you need it.

Marketing Plan and Operations

So, now you’ve concluded that you have a great business idea, and it’s in a growing market. That’s fantastic – but how are you going to drive traffic to your ecommerce website and get customers to buy it ? And how much can you afford to spend on your product?

Marketing  is everything. It’s important that your marketing efforts match your business model.

If you have a website and no marketing, your site won’t have any visitors. With no visitors, you will make no sales. Then how do you grow and sell your ecommerce business (if that’s your long-term goal)? Even with the best possible products, nobody will buy them if they aren’t directed to them in some way.

In order to come up with a marketing strategy, you need to first know your customer inside out. You should be able to answer such questions as:

• How old is your customer?
• Where does your customer live?
• What is the population of your customer base?
• What is their education level?
• What is their income level?
• What are your customer’s pain points?

With so many channels to reach your customer, which one is best for you?

Once we know pretty much everything there is to know about our target customer, we can shift focus to our marketing strategy. You want to choose marketing strategies that equal positive conversion rates. What channels should you use to grab the attention of your customer demographic? Some of the key marketing channels include:

Paid Marketing

• Pay-per-click – this online marketing typically involves using Google Shopping campaigns  and managing a product data feed.
• Affiliate sales networks – Allowing other blogs and websites to sell your product for a cut of the revenue. List the different affiliate sale networks that you plan to promote through.
• Facebook ads ⎯ Ads posted on Facebook to draw in buyers through social media means.
• Influencer marketing ⎯ Hiring industry influencers to get the word out about your product through their social media platforms and contacts.

Organic Marketing

• Social media (Facebook, Instagram , Pinterest, etc.): What is your strategy for social media, and where will you dedicate your attention?
• Search Engine Optimization : Create and promote awesome content so people find your product organically through search.
• Content marketing: Figure out how you’ll use content marketing in your business. Consider various article topics that will persuade your target audience to buy your products.
• Blogger networks: could be organic or paid through affiliate sale programs.
• Key bloggers: Develop a list of the key bloggers in your product category. For Atlas Hiking Co., this might be an influencer that blogs about the best hiking trails in America.

Finding the optimal mix of these advertising tools depends 100% on your customer segment as well as your product type. For example, a SaaS product targeting millennials will require an entirely different marketing strategy than an e-commerce physical product targeting baby boomers. Perhaps that should be a post on its own for another day!

How much should you spend to acquire a customer?

In order to understand this, we need first to discuss a concept known as customer lifetime value or LTV. In essence, this is a formula that helps you better understand how much an average customer will spend over time.

Here’s  a good read on how to calculate LTV.

It’s important to remember that for new businesses, you don’t have a lot of data on customer purchase habits so it’s a good idea to be more conservative with your assumptions in calculating LTV.

Let’s say, for Atlas Hiking Co., I determine that the average LTV per customer is $300. This means that over time, the average customer will spend $300. Let’s say, on average, if I receive $300 in revenue, $100 of that will translate to gross profit before I factor in my marketing costs (basically, I’m just subtracting the cost of making the shirts).

Knowing that my gross profit is $100 per shirt is a critical piece of information because it tells me that I can spend up to $100 in marketing to acquire a customer and still be profitable!

Some of the marketing options include social media marketing and content marketing.

Think about your business model and then line up your marketing budget. Your marketing budget may include the following items:

• Sales/branded content
• SEO/blog content
• Facebook/Instagram ads
• Influencer marketing
• Marketing tools
• Niche advertising

Choosing The Right Technology

With so much technology and SaaS products out there, it’s important to understand the various moving parts and diagram how they all integrate with one another.

Some of the different elements include:

• Shopping Cart Platforms  – e.g., Shopify , BigCommerce , WooCommerce , or any open-source platform
• Hosting – Nexcess , BigScoots , Kinsta , WPX
• Payment Processo r – e.g., Stripe, Paypal
• Fulfillment Center – e.g., Amazon, ShipBob
• Apps – e.g., Zipify, BuildWooFunnels, Gelato
• Accounting & Taxes  – e.g., Quicken, Xero
• Marketing Automation – e.g., Klaviyo , Mailchimp
• Marketing Tools – e.g.  Buzzstream, Ahrefs
• Customer Loyalty Programs  – e.g., Antavo, Smile

Come up with a detailed list of the different products and services you need to run your business as well as the monthly and per-transaction cost of each of them. This will be important in understanding the impact of these services on your margins.

Matching your business model to your technology is essential, too. Certain website platforms are better suited for specific sales models.

Email marketing is another type of technology that should be carefully considered and matched up correctly with your business model.

Keep in mind that it takes, on average, 6-7 interactions with a brand before someone makes a purchase, so you need to keep using technology to get them back to your website.

As you explore the technology options and find out ways to draw potential customers in and keep them happy while they’re there, here are some key points to keep in mind:

• What you say about yourself and your products with your website content
• How you respond to questions on live chat and email support
• How to make use of chatbots
• How you connect on social media
• The information you send through email marketing
• What bloggers and influencers say about your brand
• How existing customers review your company
• How you advertise
• How you establish loyalty beyond sales

After you figure out your technology methods, you have to come up with a technology budget.

The business plan must also include the operations side of things. Determine who will be your manufacturer, secondary manufacturer, and shipping and fulfillment  provider.

When looking at supply chain costs and options, ShipBob  is an ecommerce fulfillment provider you can consider.

Financial Plan

When figuring out your financial plan, evaluating and pinpointing your startup costs  is essential.

The focus of the financial plan is how long it will take for you to make your money back. You also need to figure out if you need a business loan .

Traffic and conversion rates will help you determine how long it will be until you start making money back.

You’ll also want to use an income statement to detail financial information.

This section is used for financial projections, such as forecasting sales, expenses, and net income of the business. Ideally, you’ll want to create a monthly Excel balance sheet showing the following:

• Projected revenue:  First, come up with your projected number of units sold and then come up with your projected revenue (Projected Revenue = # of Units Sold * Average Sales Price).
• Fixed expenses:   these are expenses that are fixed no matter how much you sell. Typically, these relate to monthly SaaS subscriptions, employee salaries, or rent.
• Variable expenses  – these expenses change in direct proportion to how much you sell. Common examples include the cost of goods sold and credit card payment processing fees.

This helps business owners better understand what they need to achieve to hit their profit goals. In reality, projections are usually always off the mark, but it’s good to give yourself some measurable goals to strive for.

This section should aim to answer the following questions about your product offering:

• How much product do you need to sell per year to meet your income goals for the business?
• What are the margins on your product? If you sell one hiking shirt for $50, how much do you make after paying your supplier, employees, and marketing costs?
• What is the lifetime value of a customer?
• How much can you spend to acquire customers? If you conservatively project that the average customer will spend $300 over time on your shirts, then you can afford to spend an amount less than $300 to acquire that customer using the paid marketing channels described previously.
• Do you have any big capital expenditures early on that would require you to need to bring in investors?
• Can you improve gross margins by making bigger orders from your suppliers?

There are various acquisition channels that will help your traffic to convert including:

Your revenue plan will contain a 12-month revenue forecast plan to help you map out each month of earnings.

There are different business earning models you can go through to determine how much you can make with your business.

You want to calculate how much traffic costs. This all depends on the methods you use to gain traffic to your site.

As you determine what your profit might be with your ecommerce business  or ecommerce businesses, there are certain math formulas to use:

• The profit equation
• Break-even analysis
• Units needed to achieve the profit target

You should also consider how you will use fintech companies in your ecommerce business.

What are the key elements of an ecommerce business plan?

The main components of an eCommerce business plan include the executive summary, company description, market analysis, organization and management structure, product line or service, marketing and sales strategy, financial projections, and funding request, if applicable.

How do I create a budget for my ecommerce business?

Start by estimating your initial startup costs and ongoing expenses. Consider costs like website development, inventory, marketing, shipping, taxes, and any necessary licenses or permits. It’s also important to factor in a contingency plan for unexpected costs.

How do I find the right product to sell?

Research is fundamental. Look at market trends, customer needs, and competitor products. Use tools like Google Trends or social media platforms to understand what customers are currently interested in. Always consider your passion and knowledge about the product too, as this can drive your business forward.

How can I differentiate my product from competitors?

Differentiation can come from unique product features, superior customer service, better pricing, or a compelling brand story. Understand what your competitors offer and how you can do it differently or better.

Wrapping Up Your Business Plan

Careful planning is crucial to get your e-commerce business from the planning phase to the launch phase and to ensure its successful future.

Going through the exercise of writing a business plan will cement your own understanding of your business and your market. It will also position you to take advantage of lucrative opportunities while mitigating harmful threats to your business down the line.

Your turn! Have you written a business plan for your online store? Do you have anything to add? Tell us about it in the comments below!

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Starting an Online Sales Business: A Complete Guide

If the prospect of dipping your toes into online sales has sparked your curiosity, this article is here to quench your thirst for knowledge. Starting an online sales business may seem like a monumental task, but fear not! We are here to guide you through every step of the process, from creating an enticing online presence to unlocking the secrets of successful marketing strategies.

So grab a cup of your favorite brew, settle into your comfiest chair, and let's embark on this exciting journey together – one click at a time.

What is an Online Sales Business?

An online sales business refers to a digital venture that sells products or services through online channels. It leverages the power of the internet to reach customers and facilitate transactions. This type of business has become increasingly prevalent with the rise of e-commerce platforms and expanding online consumer base. For instance, an online clothing store operates exclusively on the internet, offering a wide range of apparel and accessories to customers worldwide.

The main advantage of an online sales business is its ability to operate 24/7, reach a global audience, and provide convenience to customers who can browse and purchase items from the comfort of their own homes.

Why Start an Online Sales Business?

Starting an online sales business offers numerous advantages.

Firstly, it allows you to tap into a global market, reaching customers from different geographic locations and time zones. This significantly expands your customer base and sales potential.

Secondly, an online sales business provides flexibility and convenience. You can operate your business from anywhere, eliminating the need for a physical store.

Additionally, with effective marketing strategies and optimized websites, you can easily target and attract your ideal customers. Moreover, the lower operational costs and overhead expenses compared to traditional brick-and-mortar stores make it a cost-effective option for entrepreneurs. In today's digital age , starting an online sales business is a wise decision that opens up a world of opportunities.

Research and Planning

Identify your niche.

Identifying your niche is a fundamental step when starting your online sales business. It involves finding a specific target audience or market segment to focus on. By narrowing your niche, you can tailor your products and marketing efforts to meet the unique needs of your customers.

To identify your niche, start by researching current market trends and analyzing customer preferences. Consider factors like demographics, interests, and purchasing behaviors. Look for gaps or untapped opportunities in the market that align with your expertise or interests.

For example, if you're passionate about sustainable fashion, you could specialize in selling eco-friendly clothing and accessories. This niche allows you to attract and connect with like-minded customers who prioritize sustainable living.

Remember, choosing a niche helps differentiate your business from competitors and allows you to position yourself as an expert in your field .

Analyze the Market

To ensure success in your online sales business, it's crucial to analyze the market you'll be operating in. Start by identifying your target audience and their needs. Look at industry trends, market size, and competition. Analyzing customer behavior and preferences will help you tailor your product offerings and marketing strategies. Utilize tools like Google Trends and social media analytics to gather valuable insights.

Additionally, consider conducting surveys or focus groups to gather direct feedback. By understanding the market landscape, you can position your business strategically, differentiate yourself from competitors, and meet the demands of your customers effectively.

Competitor Research

Competitor research is an important aspect of starting an online sales business. By studying your competitors, you can gain valuable insights into their strategies, products, pricing, and target audience. Analyzing their strengths and weaknesses allows you to identify opportunities for differentiation and improvement in your own business. Look at their website design, customer reviews, social media presence , and marketing tactics to understand what resonates with customers.

Create a Business Plan

When starting an online sales business, creating a business plan is vital for success. This plan serves as your roadmap, outlining your goals and strategies. Here's how to create an effective business plan:

• Start with a clear vision : Define your online sales business's purpose and target audience.
• Conduct market research : Analyze the demand for your products/services and identify competitors.
• Establish your unique value proposition : Determine how you differentiate yourself from competitors.
• Outline your marketing and sales strategies : Define how you will attract and retain customers.
• Set financial goals : Determine your revenue projections, expenses, and profit margins.
• Create an operational plan : Detail your logistics, inventory management, and customer support processes.
• Continuously review and update your business plan as your online sales business evolves.

Setting Up Your Online Sales Business

Choose the right ecommerce platform.

When starting an online sales business, selecting the right ecommerce platform is vital for your success. Consider the following factors to make an informed choice:

• User-Friendliness : Opt for a platform that is intuitive and easy to navigate, ensuring a seamless experience for both you and your customers.
• Customization Options : Look for a platform that offers flexibility in design and functionality to reflect your brand's unique identity.
• Scalability : Choose a platform that can accommodate your business growth and handle increasing traffic and sales volumes.
• Payment and Shipping Integration : Ensure the platform integrates with popular payment gateways and offers various shipping options.
• Customer Support : Check for reliable customer support to assist you in any technical issues or concerns.

Research and compare different ecommerce platforms to find the one that aligns with your business goals and requirements.

Register Your Domain Name

Registering your domain name is a crucial step in establishing your online sales business. It provides your website with a unique and memorable web address. When choosing your domain name, consider a name that reflects your brand and is easy to spell and remember.

To register your domain name, you can use reputable domain registration services like GoDaddy or Namecheap. These platforms allow you to search for available domain names and complete the registration process. Remember to choose a domain extension that suits your business type, such as .com for commercial businesses or .store for ecommerce stores.

By registering your domain name, you strengthen your online presence and build trust with customers. It’s an investment that helps differentiate your business and make it easily accessible to potential customers.

Design Your Website

To design your website for your online sales business, focus on creating a user-friendly and visually appealing layout. Use clear navigation menus and organize your products into categories to enhance the browsing experience. Incorporate high-quality product images and provide detailed descriptions to help customers make informed purchasing decisions. Implement a responsive design to ensure your website looks good on both desktop and mobile devices.

Include customer reviews and testimonials to build trust. Utilize call-to-action buttons strategically throughout the site to guide visitors towards making a purchase. Consider implementing a secure payment gateway to provide a seamless and secure checkout process for customers.

Set Up Payment and Shipping Methods

To ensure smooth transactions in your online sales business, it's important to set up reliable payment and shipping methods. For payments, consider integrating popular options like credit cards, PayPal, or digital wallets. Provide customers with multiple choices to accommodate their preferences. When it comes to shipping, explore different carriers and compare rates to find the most cost-effective solution without compromising on service. Implement tracking systems to keep customers informed about their orders, reducing unnecessary inquiries. Offering different shipping speeds can also cater to customers' urgency levels. Remember, streamlined payment and shipping processes enhance customer satisfaction, boosting the overall success of your online sales business.

Develop a Marketing Strategy

To effectively drive sales in your online sales business, a well-defined marketing strategy is vital. Start by identifying your target audience and understanding their needs and preferences. Utilize social media platforms to engage with potential customers and create brand awareness. Run targeted advertising campaigns to reach a wider audience and drive traffic to your website.

Additionally, optimize your website for search engines to improve visibility and organic reach. Regularly analyze marketing metrics and customer feedback to refine your strategy and ensure it aligns with your business goals. Remember, a strategic and data-driven approach will maximize your chances of success in the competitive online sales market.

Sourcing Products

Decide on product sourcing methods.

When starting an online sales business, choosing the right product sourcing methods is vital. There are two primary methods to consider: manufacturing your own products or sourcing them from suppliers.

Manufacturing your own products gives you control over quality and customization but requires significant investment and expertise. On the other hand, sourcing products from suppliers allows for a wider range of offerings and reduces upfront costs.

Consider factors like cost, quality, reliability, and scalability when deciding on the best approach. You can find reliable suppliers through online marketplaces, trade shows, or referrals from industry contacts. Conduct thorough research and compare prices and terms before making a decision.

Choose Reliable Suppliers

When starting your online sales business, choosing reliable suppliers is vital for seamless operations. Look for suppliers who have a proven track record of delivering quality products on time. Read reviews, check their ratings, and consider their reputation within the industry. It's important to establish clear communication channels with your suppliers to ensure efficient order processing and timely updates.

Additionally, consider diversifying your supplier base to mitigate any potential risks and avoid relying too heavily on a single source. By working with reliable suppliers, you can provide your customers with consistent and high-quality products, enhancing their trust in your business.

Manage Inventory

Managing inventory is a vital aspect of running an online sales business. It ensures that you have the right products available to fulfill customer orders promptly. Effective inventory management requires finding the right balance between having enough stock to meet demand without being burdened with excess inventory. Utilize inventory management software to track stock levels, set low-stock alerts, and automate restocking.

Categorize products based on their popularity to prioritize restocking efforts. Regularly conduct stock audits to prevent discrepancies and ensure accuracy. By managing your inventory efficiently, you can optimize cash flow, minimize stockouts, and meet customer expectations.

Building Your Customer Base

Create a compelling brand.

Creating a compelling brand is vital for establishing a strong presence in the online sales business. It helps differentiate your business from competitors and attracts customers. Here are some actionable tips to create a compelling brand:

• Define your brand's unique value proposition and target audience.
• Develop a captivating brand story that resonates with your customers.
• Design a visually appealing and consistent brand identity, including a logo, color scheme, and typography.
• Craft compelling and consistent messaging that communicates your brand values.
• Engage with your audience through social media, content marketing, and influencer collaborations.
• Provide an exceptional customer experience to build trust and loyalty.

By following these strategies, you can create a brand that stands out and leaves a lasting impression on your customers.

Utilize Social Media Marketing

Having a strong presence on social media platforms is vital for the success of your online sales business. It allows you to reach a wider audience and engage with potential customers.

Create compelling content that resonates with your target market and encourages them to share it with their network. Use visually appealing images and videos to capture attention.

Leverage social media advertising to extend your reach even further. Target specific demographics and interests to ensure your ads are seen by the right people at the right time.

Engage with your audience by responding to comments and messages promptly. Encourage user-generated content to build trust and foster a sense of community.

Keep track of your social media metrics to analyze the performance of your campaigns and make data-driven decisions for improvement.

Optimize Your Website for Search Engines

To optimize your website for search engines, focus on implementing effective SEO strategies. Start by conducting keyword research to identify relevant search terms that potential customers might use. Incorporate these keywords naturally into your website's content, meta tags, and headings.

Additionally, ensure your website has a user-friendly structure and is mobile-responsive. Improve page load speed, as slower websites are less likely to rank well. Utilize descriptive alt tags for images and create high-quality backlinks from reputable websites. Regularly update and add fresh content to your website to attract search engine crawlers. By implementing these practices, you can increase your website's visibility and drive organic traffic to your online sales business.

Managing Your Online Sales Business

Customer service and support.

Customer service and support is vital for the success of any online sales business. It helps build trust and satisfaction among customers, leading to increased loyalty and repeat purchases. Promptly responding to customer inquiries through various channels, such as email and live chat, is crucial in providing excellent service.

Additionally, offering clear return and refund policies enhances customer confidence in making purchases. Implementing a customer relationship management system can help streamline customer interactions and ensure no query goes unanswered. Regularly seeking feedback and addressing any issues promptly demonstrates a commitment to customer satisfaction and continuous improvement in the online sales business.

Monitor and Analyze Sales Performance

Monitoring and analyzing sales performance is vital for the success of your online sales business. By tracking key metrics such as conversion rates, average order value, and customer acquisition costs, you can gain valuable insights into your business's performance. This enables you to identify trends, spot areas for improvement, and make data-driven decisions.

For example, if you notice a high bounce rate on a specific product page, you can optimize its layout or improve the product description to increase engagement. Similarly, analyzing customer segmentation can help you target your marketing efforts more effectively and tailor your offerings to their preferences.

Regularly reviewing and analyzing sales data empowers you to stay ahead of the competition, adapt your strategies, and maximize revenue potential for your online sales business.

Continuous Improvement and Adaptation

Continuous improvement and adaptation are essential for the success of your online sales business. By regularly evaluating and adjusting your strategies, you can stay ahead of the competition and meet changing customer needs. One way to achieve this is by monitoring key metrics such as conversion rates and customer feedback. Analyzing this data allows you to identify areas for improvement and make informed decisions.

For example, if you notice a high cart abandonment rate, you could implement checkout process optimizations or offer personalized incentives.

Additionally, staying informed about industry trends and technological advancements enables you to leverage new opportunities and refine your approach. Embracing a mindset of continuous improvement ensures your online sales business remains dynamic and thriving.

Starting an online sales business can be an exciting and profitable venture, but it's important to have a comprehensive plan in place. This complete guide offers valuable insights into various aspects of setting up an online sales business. It emphasizes the significance of market research to identify your target audience and competition. Building an engaging and user-friendly website is crucial, including optimizing it for search engines.

Determining a pricing strategy, considering factors like costs, profit margins, and customer value, is also discussed. Effective marketing techniques, such as social media promotion, email marketing, and influencer collaborations are highlighted. Furthermore, it touches upon the importance of customer support, managing inventory and order fulfillment, and ensuring a secure payment system.

Finally, the guide suggests regular analysis, adaptation, and expansion to stay ahead in the competitive online sales market. With these valuable tips, entrepreneurs can confidently embark on their online sales journey.

Creating a Stellar Ecommerce Business Plan for Your Online Store

Choose the Right Ecommerce Platform

For years, you’ve purchased items from online businesses or marketplaces like Etsy, eBay and Amazon and thought to yourself, “I could do something like this, too.”

Starting your own ecommerce business may seem intimidating — writing a business plan, even more so.

However, a business plan allows you to validate your business idea, assess your financial position and create a concrete action plan for how you’ll deliver a product from the original source to the end consumer.

In other words, while the business plan might seem like it’s ultimately meant for other people’s benefit — potential investors, business partners or well-meaning family members who keep pestering you to write one — in reality, the business plan benefits you, the business owner, the most.

You’ll shape the vision and mission for your business and map out how you’ll get there. One study by Harvard Business Review found that entrepreneurs who write a formal business plan are 16% more likely to achieve viability than those who don’t.

An ecommerce business plan is a document that outlines your business purpose and goals, analyzes your industry and competitors and identifies the resources needed to execute your plan.

For example, which suppliers will you work with? What types of products will you stock? Who is your ideal buyer? How will you advertise your business? Can you afford to provide free shipping and still make a profit?

Here’s a step-by-step primer on how to write a business plan for your ecommerce store, what elements to include and how to use your own business plan to increase your chance of success.

How to Create An Ecommerce Business Plan

Business plans help entrepreneurs maintain focus on their goals and shape the day-to-day running of a new business. The key elements of an ecommerce business plan template describe blueprints for growth, projected timelines and financial goals — clarifying topics like cash flow, expenses, marketing tools and distribution channels.

Draft an executive summary.

An executive summary provides a concise rundown of the key points in your business plan. In short, it should summarize your chosen industry, business purpose, competitors, business goals and financial position. Executive summaries average 1-3 pages and are ideally under two pages.

What does your business do?

Explain the raison d’être for your startup. What problem will you solve for your customers? Who is the target audience? Where do you want your business to be in one, five, or 10 years?

Here are the main elements of an executive summary:

The problem statement or business opportunity : Describe a pain point or gap in the market that you are uniquely qualified to fill. (“As someone who used to own a convenience store, I heard many of my customers complain about the lack of healthy food options while traveling domestically.”)

Your business idea : State how you plan to approach the problem (“XYZ is a ready-to-eat meal company that lets travelers order and pack healthy meals ahead of trips so they can avoid eating fast food.”)

Company history : Describe what milestones you have achieved. Are you already working with suppliers? What is your current revenue? (“In 2021, XYZ fulfilled over 10,000 orders, generating $150,000 in revenue.”)

Industry and market analysis : Outline the trends in the market that affect your business, market size, and demand for your product. (“In 2022, the global health and wellness food market was valued at $841 billion and is projected to increase to one trillion by 2026.”)

Competition : Explain who your competitors are, outline their strengths and weaknesses, and make it clear how you will differentiate.

Timeline for key milestones : Project when you plan to achieve goals like breaking even, launching an IPO, or other key milestones.

Financial plan (if you are seeking funding from investors or banks).

What goals does your business want to achieve?

Set short- and long-term goals for your business, such as achieving a certain amount of revenue or testing a new product idea. Business goals can be general and high-level or they can focus on specific, measurable actions (SMART goals).

The most realistic goal-setting approach is to set short-term goals as stepping stones to your long-term goals. For example, your short-term goal to decrease website bounce rate by 25% within 12 weeks might help you reach the long-term goal of growing conversions by 50% within one year.

Timeframes for short-term goals can range from a few hours to a year, while long-term goals generally take 1-5 years to achieve.

What products do you sell?

Outline your product offerings and specify where you’ll source each item. Some ecommerce businesses manufacture products in-house. Others work with wholesalers, manufacturers or print-on-demand businesses to resell their products.

Curate a tight product line that demonstrates your value proposition. Why should someone buy from your online store rather than another brand? Why would someone choose your products over a substitute if you don't produce goods in-house?

Ecommerce companies sell three types of products: goods, services and digital products. Tell your readers what you intend to sell and why. List each item and its purpose. For each, you want to answer the question “why?” Why are you choosing to offer these specific products and services? How do you plan on fulfilling orders?

If you’re offering a service, explain what you do and where. Are you local? Do you travel to your customers? Will you partner with similar service providers in other areas?

How will customers access the item if you're offering a digital product? Will they download software or education videos from your site? Will they pay a subscription or usage-based fee? What about licensing requirements? Mention intellectual property ownership (if applicable) including trademarks, patents and copyrights.

Who is your audience?

Describe your ideal customer. Define your product or service from their point of view. What problems does your product solve for them? What benefits or features do customers look for when shopping for that product type?

Create customer profiles that summarize your target audience in terms of demographics (age, location, gender, etc) and psychographics (pain points, interests, buying patterns). Consider creating customer segments based on shared characteristics if you cater to a wide audience.

Demographic data should include the following points:

Education level.

Relationship status.

Occupation.

Meanwhile, discover your target customer’s motivations, needs and wants as much as possible. Psychographic data should include the following points:

Where are you going to sell your products?

Outline your sales channels, both future and existing. For example, your main point-of-sale might be your ecommerce site. Be sure to include stats on site traffic and conversions so readers know how your site is performing.

Still, you might also offer your products online on marketplaces like eBay, Amazon and Etsy. Explain how each of these channels is performing and how you’re optimizing them for product discoverability and conversions (eg: following SEO best practices, using high-quality images, highlighting user-generated content).

Identify your company overview.

Tell your brand's story , its purpose, and how the company was founded. In addition to the company description, provide details on how you currently run the business. List your business partners and employees and describe the business's legal structure.

The best brand names are memorable and communicate the essence of your business. Brand names gain icon status because they represent an excellent product or service, so don’t obsess over it.

That said, the right brand name can be your brand’s most valuable asset, driving differentiation and speeding acceptance. In fact, 71% of consumers prefer to buy from brands they recognize.

If you’re struggling to come up with a name, try using an online brand name generator as a jumping-off point. Remember, you’re not locked into a single brand name forever.

Business structure

Describe the legal structure of your business. Is it a sole proprietorship, LLC, an S-Corp or a partnership? Consider speaking to an accountant if you’re not sure. Who is in charge of the business? List founders and officers and their contributions (both capital and expertise) to the company. Who works for the company? Include an org chart that illustrates who currently works for the business and the roles you plan to hire for . List their responsibilities, salaries and terms of employment (freelance, full-time, part-time).[

Your business structure]( https://bristax.com.au/business-articles/business-structures/ ) affects how much you pay in taxes, your ability to raise money, the paperwork you must file and your personal liability in the event of business bankruptcy, so this information is important to lenders. Also mention if you have filed or plan to file for any applicable licenses or permits.

Domain name

Register a unique domain name for your business. A catchy brand name is essential because the domain is less likely to have been claimed by another business. Keep your domain name as short as possible and ensure it includes your brand name for SEO purposes.

Your mission describes the fundamental purpose of your business. It should tell people why the business exists and how it benefits its customers. For example, LinkedIn’s mission statement is “connect the world’s professionals and make them more productive and successful.”

However, be careful not to exaggerate. An overly aspirational mission statement is disingenuous and wishy-washy — no single corporation or small business will single-handedly “change the world.”

A vision statement is a declaration of what you want your business to achieve in the future by fulfilling its purpose. It describes your company’s “why,” while the mission statement describes the “who” and “what” of the business.

Your vision statement should define your values as a business (eg: reducing waste generated by single-use toiletries) and future goals (achieving a zero-waste world by implementing a circular economy).

Background information

Tell the story of how you conceived your business idea. Say you’re a former school teacher who discovered your artistic flair from making handmade pottery in your garage on weekends. Describe how your business has grown and changed since you first started it.

Your team and key people

List the key personnel in your company. Aside from the founders and executive team, who keeps the business running each day? Here are a few examples:

Company owner — that’s probably you.

CEO — that’s probably also you.

Management team.

Customer service manager.

Logistics manager.

PR and social media specialist.

Advertising manager.

SEO manager.

Copywriters.

Conduct market research.

Ecommerce businesses face intense competition and are liable to market disruptions because they rely on third parties (suppliers, shipping companies, wholesalers) to deliver a product or service. Knowing the market in and out will help you build a more resilient business.

A market analysis considers your ideal customer (their purchase habits and behaviors), competitors (their strengths and weaknesses), market conditions (industry trends and long-term outlook), and how your business fits into this landscape.

The point of a target market analysis is to:

Identify the most and least valuable markets.

Develop buyer personas.

Find gaps in the market to fill.

Assess the viability of a product or service.

Improve business strategy .

Market opportunities

The first step to identifying your target market is determining your total addressable market (TAM) — the maximum market size for your product or service. Who are your customers? What are their demographic and psychographic traits? When and how often will they buy your product?

The best way to obtain a high-level overview of your customer base is to consult your social media and web analytics. These dashboards show where your customers live, their age, gender, general interests and more. You can also use U.S. Census Bureau data to pad up this information.

Competitive analysis

Analyze the strengths and weaknesses of your current and potential competitors. First, find out who your direct and indirect competitors are. You can perform a Google search of businesses that sell similar products or scope out rivals in your local area.

Here’s what you need to know about your competitors:

What markets and segments they serve.

What benefits they offer.

Why their customers buy from them.

Details of products and services, including pricing and promotional strategies.

Search for publicly available information about your competitors. Aside from that, do some of your own primary research. Visit their website and complete an order or visit their physical outlet.

Next, analyze the information. Is there a segment of the market your competition has overlooked? Is there a product they don’t supply? Did you have a bad customer experience when you walked into the store?

Detail your competitive advantage in your business plan. Don’t just list things that your competitors do — that’s not analysis. The competitive analysis section aims to persuade the reader that you are knowledgeable about the competition and that your business idea has a significant advantage over the competition.

Products and services

List the products and services you provide and how customers will access them. If you’re selling digital products, will customers have to stream or download the content? Do they pay a subscription fee to access a content platform or do they pay for each individual content piece? If you’re providing a service, will you provide it on physical premises or will you travel to customers’ homes? Will you sell physical products in a physical store or online? What is your website like? List each product, including a short product description and pricing information.

Develop a marketing plan.

You need a go-to-market strategy if you haven’t already launched your business. How will you spread the word about your business? How and where will you advertise and what is your budget? If you run social media ads, for example, what platforms will you use and who is your target audience? Will you do content marketing and SEO? A thorough marketing plan answers all of these important questions.

Marketing channels

Define which channels match your consumer demographic. Do your potential customers spend time on Facebook or do they prefer YouTube? First, figure out where your potential customers are. Next, create attention-grabbing marketing strategies and use them to reach your customer base.

Paid marketing channels

PPC advertising : Advertise on Google’s search engine and pay only once someone clicks on your ad. You can bid for ad placement in the search engine’s sponsored links when someone searches a keyword related to your business offering.

Affiliate marketing : Embed links to another business’s products in your content and receive a commission when someone makes a purchase using your unique affiliate link.

Social media ads : Run paid ads on social media apps and platforms like Facebook, Instagram and YouTube to reach targeted audiences. Ads can use different creatives such as images, videos and GIFs.

Influencer marketing : Work with a popular influencer who will promote your products to their followers. Influencers are paid based on conversions or reach.

Organic marketing channels

Brands must use an organic marketing strategy to build brand awareness and engagement and drive website traffic.

Examples include:

Search engine optimization (SEO) : Optimize your website, web pages and blog posts for maximum discoverability on search engines. This involves doing keyword research for your industry, creating high-quality content that attracts and converts and using keywords in the right places.

Social media posts : Organic social media posts build brand awareness and humanize the brand by providing a behind-the-scenes look at the company and allowing you to share engaging visual content to inspire, educate and entertain.

Blogger networks : Collaborating with trusted bloggers on link exchanges can help you build website backlinks, improving your search engine ranking.

Content marketing : Organic content includes blog posts, white papers, SEO pages, and more. This gives you content to post on social media and improves the discoverability of your website. Websites that publish high-quality content consistently rank higher in search results.

Email marketing : Create email templates for new and potential customers, cart abandonment, promotions and announcements and more.

Logistics and Operations plan

This portion of the business plan covers what you physically need to run your ecommerce company. Basically, it outlines how you’ll manage the flow of goods from the supplier (you or a third party) to the consumer. You cannot start a business without an established supply chain.

Your logistics and operations plan should cover the following:

Suppliers : Where do your raw materials or products come from? Do you work with a manufacturer who produces your product idea or are you reselling products from a supplier, wholesaler or distributor? What is the minimum order value? Do they require payment upfront or after the sale? Do you have a backup supplier in case demand spikes or there is a problem with fulfillment?

Production : Will you create your own products or use a third-party manufacturer or dropshipping company? If you’re creating your own products, where will this be done? What assets and equipment do you need? What are your operating costs?

Shipping and fulfillment : Outline how the product will reach the end consumer. How long will it take you to pack and ship products to customers? Will you use a third-party shipper? Will you ship internationally?

Inventory : How much inventory will you keep on hand and where will you put it? How will you track incoming and outgoing inventory? Do you need warehouse storage space?

Establish a financial plan.

The financial section of your business plan is where you prove the feasibility of your business idea and calculate your startup costs. It includes financial projections and statements that show your business’s current financial position and project where you hope to be in the future. This is one of the essential components of the business plan, particularly if you are seeking investment funding, a bank loan or a business partner.

Income statement

In this document, you’ll forecast the company’s revenues and expenses during a particular period. Total revenue is the sum of both operating and non-operating revenues while total expenses include those incurred by primary and secondary activities.

If you subtract your expenses from your revenue sources, you’ll come up with your bottom line (profit or loss).

Balance sheet

A balance sheet helps you calculate how much equity you have in your business. It summarizes your company’s assets (what you own), your liabilities (what you owe) and equity (money invested into the business plus profits).

A balance sheet enables you to calculate your net worth. All of your assets (machinery, inventory, business premises, etc.) go in a column on the left and your liabilities (accounts and wages payable, business loan repayments, business credit card payments, taxes) go in a column on the right. If you subtract your liabilities from your assets, you get your business’ shareholder equity.

Cash-flow statement

This document shows how much cash is generated and spent over a time period. Cash flow determines whether your business is primarily gaining or losing money. Positive cash flow and profit margins are important because it enables your business to repay bank loans, purchase commodities and keep the lights on.

How to Increase Ecommerce Sales

Explore our collection of free resources designed to help you scale smarter and accelerate your online growth from $1 million to $100 million.

The Final Word

Writing a comprehensive business plan is crucial not only for staying on track in the first year or so after launching your business but also for securing funding, finding a business partner and evaluating the viability of your business idea.

FAQs About Ecommerce Business Plans

Who needs an ecommerce business plan, what are the benefits of creating a business plan, how do i start an ecommerce business with no money, browse additional resources.

• eCommerce Marketing

Free eCommerce Business Plan Template & Guide

Abigail Bosze

Content Writer

Are you thinking about creating an online shop? If you think it is as simple as setting it up and starting to wait for clients to come, you are quite wrong.  You need a business plan for your online store. 

Even if you are not a startup and you don’t need to get people to invest thousands of dollars in your project, the business plan is still essential to put your best foot forward.

Having a business plan for your online shop will save you a lot of headaches,  such as finding out that your online shop doesn’t sell as you expected.

In today’s article, we will show you the main points that your eCommerce business plan must include so you can start working on it today.

Are you ready to jumpstart your online shop? Download our FREE business plan template to help you get started with your eCommerce!

Let’s get to it!

Table of Contents

1. Executive Summary

2. description of the company, 3. environment analysis, 4. products and services, 5. marketing plan, 6. operational planning, 7. financial projections, 8. funding application, business plan examples, 2. how much money do i need to start an ecommerce business, 3. how to start an ecommerce business, 4. is online ecommerce business profitable, start writing your online store business plan today, why do you need an ecommerce business plan.

There are two types of actions in life:

• Those that bring gratification first and pain later.
• Those that bring pain first and gratification later.

When we have an idea, what we want is to get it off the ground as quickly as possible. We can picture ourselves killing it with our e-commerce shop and what we don’t feel like is wasting time on writing down a business plan.

“Everything is in my head!” you’ll hear.

Creating a good eCommerce business plan is one of those actions that bring pain first, but that leads to huge rewards afterwards.

An online store business plan can help you earn lots of money, or save it, if while creating it you realize that your project wasn’t as perfect as you thought.

Another reason to do it is that you may need to show it to someone: investors, banks, or even friends.

In any case, let’s take a look at the key points that it has to cover.

It is the first thing your supposed investors would read if you were looking for funding since  it is the synopsis of your eCommerce business plan.  This summary creates a first impression for your project and this is why many entrepreneurs make the mistake of making it too long or overwriting it with extravagant words. Experts actually recommend consolidating it. Just  one sheet of paper summarizing every section of the business plan  for your online store should be enough. Although it is typically placed at the beginning, it should be  the last section to be written .

What the executive summary should include:

• Idea presentation: In one or two sentences it has to define your project, the value proposal, and the main competitive advantage.
• Who is behind the idea: A good idea needs the support of a good entrepreneur. It is time to introduce yourself, but don’t overuse the standard CV formula. Be honest, creative, and original.
• Basic information: This is your planned name, the legal status it will acquire, location, and foreseen scope. You can show this as a chart to make it easier to read .

One of the issues that are not always analyzed in depth is the matter of the legal requirements. It shows that you have read them and that you can resolve them easily. Include them briefly, and then you can go into more details if necessary.

The goal of this section is to identify the competitive advantage of your online shop so that you can make use of it in the future. You must reflect the company’s identity by defining:

• Mission:  the reason behind your shop’s existence, the role it plays in the market, who is it directed toward, and what its differential factor is.
• Vision:  the objectives that you want to achieve long term, which must be both realistic and ambitious so they can be motivating.
• Values:  the universal ethical principles that you want your shop to be identified with. Only choose those values that you will be committed to upholding with every action you take.

At this point it will be helpful if you do a SWOT analysis.

We’re going to take a quick look at what’s behind those letters.

A SWOT analysis (Strengths, Weaknesses, Opportunities, and Threats) allows you to carry out an external and internal assessment of both positive and negative points of your project.

It is a matrix where each quadrant includes one of the letters.

On one side, the external factors are analyzed:

• Threats: These represent what could happen or what already exists in the market that may be a trouble for the project.
• Opportunities: These could be change of legislation or any other favorable situation, whatever the reason may be.

These are factors that don’t depend on the business itself, but rather that the business either exploits them or foresees the risks.

The internal aspects:

• Weaknesses: These are our weakest points. We may not master the technical part or we may have a lack of resources.
• Strengths: What are we good at and how does that give us an advantage over competitors?

If we had to define the relation between the SWOT analysis and the eCommerce business plan in a sentence, it would be this:

The online shop business plan should show that the strengths outweigh the weaknesses and that, at the same time, they are strong enough to combat the threats and exploit the opportunities.

Now let’s jump into the next point.

Once you have completed the SWOT analysis it will be really easy to complete this one.

A business plan for an online shop should include an analysis of the environment, which we are going to divide into three types:

A. Competition

If you are thinking that the existence of competitors is a negative point, you are wrong.

A lack of competitors would be even worse since it would mean that there is not enough demand.

Your online store business plan should show that there are competitors, but not enough as to be a threat: turn it into an opportunity!

Analyze the main competitors and repeat the strengths and weaknesses process which each of them. This will give you a very clear scenario to see where exactly you can surpass them.

Finding out who your competitors are is very easy with the Internet. Have a look on Google at the best-positioned pages and the ones with the most authority for your main keywords. In addition, analyze the behavior of your ideal client and find out what they visit and what they buy.

At this point you have to dig deep into the legal aspects within your market.

B. Legislation

A modification to the law may mean both a risk and an opportunity.

C. Technology

For some sectors, it would be essential to stay up to date regarding the technological level of the market.

Summarize the main tools that you need:

• Do they require investment? Will it be just one or will it be recurrent?
• Do you have the necessary knowledge to use them?
• Will you need to hire a third party?

The business plan for your online shop should answer those questions.

If you want to further develop this point, you can include a sociological or cultural analysis, but be careful not to include too much irrelevant information because it won’t help you achieve your goals.

Download Your FREE eCommerce Business Plan Template Here

What is my product going to offer to clients? This is the fundamental question you need to ask yourself at this stage of your business plan for your online shop. Your target clients and the problems you are going to solve for them must be crystal clear. If there are similar products in the market, clearly  establish what your added value is  compared to the other options.

Again, you can use a table. The table will show your products, their price, and the estimated profits.

If you are looking for funding, what matters to the risk analyst regarding your eCommerce business plan is not the price. What really matter is why users will be willing to purchase and how much you’ll be getting from it.

Talk about pricing strategies and expenses. A company that has 100% control over where its money goes is already on the right path.

We have already shown how and what we offer to our webpage visitors.  This section includes every action planned in order to get sales.

Another common mistake, both online and offline, is to put too much effort into getting it ready and then just “opening the door” and waiting.

In a physical shop, at least passersby will see you, but for an online one that is just starting up, there is not even a street.

Bear in mind that a website, at the beginning, is located in a desert with nobody around. Telling your friends and family to visit you will make it look better at the beginning, but the real struggle is to make strangers come and make a purchase.

The marketing plan within the online shop business plan should answer the following question:

How are we going to get constant visits to the shop?

Indeed, if this is not the most important part, it’s close. Gaining visibility is a slow process that must be planned.

A good marketing plan  starts with a thorough analysis of the market  . Identifying your direct competitors and deciding which strategies you will implement to try to overcome them will be essential. In addition, this section will include  which channels you will use to convey your message  and to get leads that will become clients.

• Email marketing
• Social networks
• Videomarketing and YouTube.
• Content marketing
• Ecommerce marketing
• Paid traffic with AdWords or Facebook Ads.

Don’t forget to clearly state how you’ll use each of them.

The operational planning includes your  daily tasks as a entrepreneur.  You must establish basic things such as your work schedule, your location, your daily tasks timetable, and your product stock.

If reflects the task-flow from your e-commerce shop and how they’ll be divided.

If you are the only person in charge, you need to show what your routine will be.

Bear in mind that at the beginning you will have more tasks related to promoting and growing, but after some time you will have others to do:

• Manage returns
• Offer support
• Deal with unforeseen events
• Manage the stock
• Negotiate with suppliers

Surely you will have to go through it again in the future , but  it is important to have an initial idea on paper,  and then make small modifications down the line.

By doing this you, will show that everything is under control in your online store business plan. 😉

Once you’ve gotten to this point, you will have to think about  where you want to see your shop in 1, 3, and 5 years time .

For those who don’t know where they are going, no wind is favorable.

That’s even truer for an e-commerce or an online business.

The reason for doing this is to give you a direction for moving towards your goals and, most importantly, to ask yourself how are you planning on achieving them. Based on this fact and when you start getting your first sales, you should  establish which percentage of the profits you are going to reinvest  into making your business grow.

Making an accurate prediction about your profits is difficult—and the person reading your report will know this—but at least you are showing that you have worked on it. Just don’t write figures without a rhyme or reason.

This is the last step of your eCommerce business plan, in the case that you need external funding. It should include the amount of money you need and the exact ways that you plan on making use of it.

Put yourself in the investor’s shoes. Imagine that you are the one who is going to invest your money and think about what information you will like to read.

You may know the idea, the risks, the opportunity, and how to exploit it, but the other person doesn’t.

Be careful with the language you use—be precise and specific, and avoid vague expressions like:

“My experience and my multifaceted profile give me everything I need to comprehensively manage the business that I need your money to start.”

If you are only specific about the amount of money that you need, forget about the funding.

Use a chronogram in order to show your online store business plan visually. It is easier to understand it if it comes with a graphic instead of just having a bare text.

This may not be necessary since you can start with a budget based on the popular  family and friends funding  in addition to your own funds.

Remember that the three Fs (Friends, Fools, and Family) will help you get started, but they can’t be the foundation of your strategy.

How to present your online store business plan

You already know how to  create your eCommerce business plan step by step  and now it’s time to take action. Remember that it is just a document and that you can write yourself with just a bit of time. As you can see, you don’t need to have studied business administration at university to be able to write your own online shop business plan.

You don’t need to be a graphic designer. The important part is the content—don’t steal its thunder with an opulent presentation.

Once you have a rough draft with all of the information, bring into a Google Doc or Word document and save it as a PDF.

Just like with other aspects, less is more.

To wrap things up, here you can download lots of examples of business plan templates.

Use the examples carefully. Each project is different and if you just copy-paste it, the result will be a boring, non-informative text.

Get inspired by the business plan templates and this post, then create your own version and make people fall in love of your idea.

eCommerce Business Plan FAQs 1. What should be included in an eCommerce business plan?

An eCommerce business plan should encompass key elements such as a detailed market analysis, competitive landscape assessment, financial projections, marketing strategies, and a comprehensive operational plan.

The required capital to initiate an eCommerce business varies, but it generally involves expenses for product sourcing, website development, marketing, and initial operational costs. A detailed financial plan can provide a clearer estimate based on your business model and scale.

Initiating an eCommerce business involves several steps. Begin by conducting market research, selecting a niche, creating a business plan, registering your business, setting up an online store, sourcing or creating products, implementing secure payment options, and establishing a marketing strategy. Consistent effort in each step is crucial for a successful start.

The profitability of an online eCommerce business depends on various factors, including the chosen niche, market demand, competition, and effective management. A well-planned business strategy, quality products or services, and efficient marketing can contribute significantly to the profitability of your online venture.

Do you remember what we starting off talking about?

The things bring in the most profits are the ones that require effort before you see any rewards.

Don’t forget that when creating your eCommerce business plan. That way, you’ll do it with the love and attention it deserves.

Also think about the fact that the main beneficiary is you. It is also true that it will open the doors to funding, but you don’t want funding for a project that isn’t viable.

An online shop business plan will help you in two ways: to get to know your project more deeply and, if it is viable, to gain the resources to make it work.

And don’t worry about the difficulty of writing it. It doesn’t matter whether it is about a clothes shop, a shoe shop, or a shop that sells fishing equipment. You are the person who best knows the project and that is you need to have is knowledge about your project and your sector, as well as a  general strategic vision . 

This is the first step towards creating the online shop you dream of, so what are you waiting for? Download our FREE business plan template to help you get started with your eCommerce! Good luck!

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Crafting a Winning Business Plan: Setting Goals and Strategies

Katie Miller is a consumer financial services expert. She worked for almost two decades as an executive, leading multi-billion dollar mortgage, credit card, and savings portfolios with operations worldwide and a unique focus on the consumer. Her mortgage expertise was honed post-2008 crisis as she implemented the significant changes resulting from Dodd-Frank required regulations.

If you want to get into the online business game, it’s a good time to start. The COVID-19 pandemic reshaped online consumer spending, including how people shop online and how they research products.

Today, 76% of Americans buy products online. Furthermore, roughly a third of people purchase items online weekly. From setting up an ecommerce business to offering web design services, there are countless avenues to explore as an entrepreneur.

Below, we’ll walk through each step to building an online business.

Key Takeaways

• When starting an online business, comprehensive market research is critical for identifying your target audience and learning how to resonate with your customers and understand their needs.
• Creating a business plan is an important step for outlining your business goals. It also includes your product description, target market, and financial projections, among other core components.
• Building your website involves setting up a domain name, finding a hosting company, and designing a strong website with consistent branding that allows your customers to navigate it intuitively.
• Choosing the right product or service to sell is essential. It’s important to think about how you’re addressing an unmet need.
• Several digital marketing strategies can be utilized, from content marketing to paid advertising, to help your business grow.

Successful online entrepreneurs study hard in order to have a thorough understanding of their market. This is important for knowing exactly how to reach your target market , because these are the people who will buy your products and drive your business growth.

At its core, market research is about understanding your customers’ needs, pain points, and solutions. It is designed to help your business better meet these needs.

Steps to Conduct Market Research

Market research involves understanding key aspects of your current and future customers. To get a clear sense of your target market, outline the characteristics of your audience—for example, age, location, gender, income, job title, and key pain points.

Once you have identified your target audience, conduct research on the following topics, which will tell you about how they make decisions and how you can better position your business:

• What are the challenges that your target market faces?
• Where do they research a given product or service?
• What are their views on pricing for this product or service?
• What factors influence their decision to make a purchase?
• Who are your competitors?

To put this market research into action, there are a number of different avenues you can take:

• Focus groups
• Competitive analysis
• Brand awareness research
• Market segmentation research

Consider the following questions that may be asked in an interview or focus group to learn more about your audience:

• “How do you search for that product?”
• “How useful was it?”
• “What words do you use when you search on Google?”

When you have completed your market research, identify what you have learned as well as your next steps based on these insights.

Creating a business plan is a key first step for all business owners . It is important for companies looking to secure funding resources. It also serves as a blueprint to summarize your key business objectives and goals.

To write a business plan , incorporate these eight main sections, which are often found in traditional templates:

• Executive summary : This is typically a one-page section that explains your objectives and includes your mission statement, core team, and why your company is positioned for success.
• Company description : This describes what you offer, your competitive advantages, and your business goals.
• Market analysis : This is where you explain your target market, market size, market trends, and competitive landscape.
• Organization and management : Explain who is working on your team and their professional background and experience.
• Service or product line : Describe the product or service you are offering, including any copyright or plans for patenting.
• Marketing and sales : Discuss your marketing and sales strategy. Discuss your pricing, key metrics, and sales plan.
• Funding request : If you are a company looking for funding, here is where you outline the capital you are requesting and where it will be allocated.
• Financial projections : Include projections for your company’s revenue and expenses. Consider including an income statement, balance sheet, and cash flow statement in this section.

A business plan is important because it helps clarify your action points, who you are, and what you offer, all in a coherent template.

Getting your business online is the next key step. In an ever-changing environment, it is important to know the tools, trends, and strategies for building a strong online presence to allow your business to grow.

Registering Your Domain

The first step is registering your name, or your website address. This can be in the form of your business name “.com.” To purchase your domain name, you can go to sites like GoDaddy or Namecheap . If you decide to build your website using WordPress, you will need to use a site such as these to host your website.

Web Hosting Companies

Alternatively, you can buy your domain name at a hosting company. These are companies like Shopify , Wix , or Amazon Web Services , that may also offer tools to build your website and release content on them. 

Website Design

A well-designed website is important for many reasons. Using a website builder, such as Mailchimp or Squarespace , can allow you to choose a theme, customize your pages, create relevant content, and set up a payment page.

Other key aspects of your website design include its functionality, simplicity, and ease of use. Allowing your potential customers to navigate the site intuitively will be key to their experience. Brand consistency—in your logo, colors, and typeface, for example—is also key to creating a unified brand.

Another essential part of website design is its mobile application. You’ll want to ensure that your website runs smoothly on mobile, that images load properly, that the text is legible, and that buttons are intuitive to click.

This step focuses on how to choose the right product or service to sell. At the heart of this choice is the goal of solving a customer’s problem. But there are a number of strategies you can use to identify your product idea.

For example, you might consider analyzing companies with high-profit margins, products that align with your passion, burgeoning trends, items trending on online marketplaces, and/or customer reviews.

With this in mind, analyze how this product will get to your customers. Additionally, you may consider products that are not available in stores in your local market but are offered in communities such as Europe or Japan, for example.

Marketing strategy and promotion is an essential driver of business growth. As the digital landscape evolves, it’s important to have an effective marketing plan that resonates with changing consumer preferences and needs.

Here are questions that companies can consider as they create their marketing strategy, navigating today’s environment:

• Impact, value, and growth : What are the goals and key performance indicators (KPIs) that will measure success for your business? How will you explain the value that the business provides to its customers and/or society? Create an “elevator speech”—a 30-second description of what you offer and why it’s special.
• Customer need and brand promise : How does the brand meet a customer’s need through its products and services?
• Customer experience : How will the business deliver the best experiences at each stage of the customer journey?
• Organizational model : How will the business operate to serve the customer with the most impact?

These will help you understand what types of strategies can have real impact.

Types of Marketing Strategies

Consider the following digital marketing strategies that can be used for your online business:

• Email marketing
• Social media marketing
• Paid advertising
• Search engine optimization (SEO)
• Content marketing
• Influencer marketing

Each of these presents a different way to reach your target audience, drive conversions, or build brand awareness, depending on your marketing goals.

You need to determine that for yourself. But before starting an online business, it’s important to assess the time, investment, and resources you’ll need to get it off the ground. While the barrier to entry can be quite low, it’s worth considering your goals and strategies for making it a reality.

However, compared with starting up a traditional brick-and-mortar business, the risks of launching an online business may be reduced due to lower upfront costs such as rent, staff, and materials, among others.

The short answer: yes. While it depends on the type of business you hope to pursue, there are many ways to set up an online business at very little cost. For example, you could offer your services doing freelance work, photography, bookkeeping, or personal training. The primary costs involved include setting up your business website, which can cost as little as $2 to $20 each year with companies such as GoDaddy.

There are a number of digital marketing strategies that online businesses can use, such as content marketing, email marketing, paid advertising, SEO, and influencer marketing. Each of these strategies can be useful, depending on your product and goals.

Starting an online business can be a powerful way to launch a new product or service while reaching a wider audience. With market research, a solid business plan, a strong website, and a digital marketing strategy, you can get started in growing your company effectively. As customers increasingly make decisions virtually, building an online business is vital to any business owner’s success.

Pew Research Center. “ For Shopping, Phones Are Common and Influencers Have Become a Factor—Especially for Young Adults .”

U.S. Small Business Administration. “ Market Research and Competitive Analysis .”

U.S. Small Business Administration. “ Write Your Business Plan .”

Ogilvy. “ Getting Future Ready with Marketing Transformation ,” Page 15.

GoDaddy. “ How Much Does a Domain Name Cost? Find Out! ”

• How to Start a Business: A Comprehensive Guide and Essential Steps 1 of 25
• How to Do Market Research, Types, and Example 2 of 25
• Marketing Strategy: What It Is, How It Works, and How to Create One 3 of 25
• Marketing in Business: Strategies and Types Explained 4 of 25
• What Is a Marketing Plan? Types and How to Write One 5 of 25
• Business Development: Definition, Strategies, Steps & Skills 6 of 25
• Business Plan: What It Is, What's Included, and How to Write One 7 of 25
• Small Business Development Center (SBDC): Meaning, Types, Impact 8 of 25
• How to Write a Business Plan for a Loan 9 of 25
• Business Startup Costs: It’s in the Details 10 of 25
• Startup Capital Definition, Types, and Risks 11 of 25
• Bootstrapping Definition, Strategies, and Pros/Cons 12 of 25
• Crowdfunding: What It Is, How It Works, and Popular Websites 13 of 25
• Starting a Business with No Money: How to Begin 14 of 25
• A Comprehensive Guide to Establishing Business Credit 15 of 25
• Equity Financing: What It Is, How It Works, Pros and Cons 16 of 25
• Best Startup Business Loans 17 of 25
• Sole Proprietorship: What It Is, Pros and Cons, and Differences From an LLC 18 of 25
• Partnership: Definition, How It Works, Taxation, and Types 19 of 25
• What Is an LLC? Limited Liability Company Structure and Benefits Defined 20 of 25
• Corporation: What It Is and How to Form One 21 of 25
• Starting a Small Business: Your Complete How-to Guide 22 of 25
• Starting an Online Business: A Step-by-Step Guide 23 of 25
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• How to Start a Successful Dropshipping Business: A Comprehensive Guide 25 of 25

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10 Steps to create an online sales business plan

Table of contents.

• Compose an online sales business plan executive summary
• Define your company’s mission, vision, goals, and values
• Characterize your target audience in your online shop business plan
• Perform a market analysis for your business plan for an online shopping website
• Outline your business structure in your online sales business plan
• Make a list of the products and/or services your online sales business offers
• Build a simple, easy-to-follow financial plan
• Create a marketing plan in your business plan for the online store
• Devise a logistics and operations plan
• Construct an appendix for your online sales business plan

Whether you’ve been a veteran business owner for years or are just starting with your own little venture, or if you’re still putting together the master plan for your startup, a good, solid online sales business plan can help you get guaranteed success. Up to 70% of business owners find that having a business plan built before everything else is a tremendous help. However, determining how to create an online business plan can be as intimidating as going onto the market itself. But never fear! In this article, we will help you get it done. 

Prepare your online store business plan

Building a business plan for your online shopping website is definitely something you can do on your own as the owner. Since your business venture is a result of your passions and interests, the main bulk of the plan should come from you. Hiring a professional to proofread and edit the document is also an option, but the groundwork should be done by you. 

Before you start sweating, read up and pay attention – we’re here to help you. Below are the 10 steps you can take to create an online sales business plan. 

1.  Compose an online sales business plan executive summary

Typically, one page or less, the executive summary is oftentimes the most crucial part of an online sales business plan. Because it condenses the essential parts of your business plan for the online shopping website, urging readers like potential investors to keep reading and pay attention. 

The executive summary usually includes some, if not all, of the following items: 

What your business does, or what it’s for

The mission and vision, as well as the goals of your business venture

Your products and/or services – what do you sell or offer, and what sets your offerings apart?

Target market or who do you want to sell to and serve

How do you plan on reaching your customers?

What does your online sales business currently make in revenue?

How much money do you need from investors?

Who’s involved in your online store business? Introduce your team

2. Define your company’s mission, vision, goals, and values

This part of your business plan for an online shopping website only needs to answer two questions: Who are you? and What do you plan to do? Doing this delineates why you’re in business, what sets you apart from your competitors, and why investing in your online store is a good idea. A good example of this is something called Letter from the CEO. 

The core of why you’re in business and what you hope to achieve should be stated here. For this part of the online sales business plan, you need to look outward to your customers, suppliers, employees, etc., to be able to see who you are as a company clearly. 

Some of the items below should also be included in your company identification: 

Your business structure (sole ownership or partnership, etc.)

Your business model

The mission and vision for your company (be sure to review this from time to time to keep it current)

The goals and targets of your online business

Your company’s history

The objectives for your business, both long and short term

Your team and their salaries

3. Characterize your target audience in your online shop business plan

The next step of the online store business plan is to list down what makes your target audience. By this time, you already have an idea of the type of people you want to sell to or serve. If you don’t know who your target audience is yet, now is a good time to find out. 

This is also where your investors or potential partners will have some questions for you, so be prepared with the answer to these:

Will your customers be consumers or other businesses?

Will they be loyal or one-off customers?

Have you spoken to anyone in your target audience? 

If, by chance, you have conducted feasibility or focus group studies for your business, be sure to add the particulars in this part of your business plan for the online store. 

4.  Perform a market analysis for your business plan for an online shopping website

The key to any online store business plan is choosing the right products and/or services for the market you want to launch in. It has to have plenty of customers for you – customers who have a need for what you’re offering and an understanding of its usefulness in their everyday lives. Be sure that you comprehend what your ideal customer looks like, whether it’s another business or a buyer, do your research on market trends, and conduct a SWOT (strengths, weaknesses, opportunities, and threats) analysis. Also, this is the part of your online sales business plan when your competitors’ analysis should be. 

Timing also is key. You should be ready to launch at the right time to make a dent in the market and create an impact. Choosing the wrong market at either the wrong or right time can both spell disaster for your business, and you may find yourself struggling to stay afloat. Your potential investors may also see this as a sign of unreliability and bail out instead. 

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5. Outline your business structure in your online sales business plan

Simply put, your organizational chart . This is the part in your business plan for an online shopping website where it is shown. If you have management and leadership teams, their job titles or designations should also be presented here. 

Be as detailed as you can be to show the finer points of your business. Start from the rank-and-file. Then, work your way up and out, demonstrating the professional relationship between each employee and every department or team. Include their roles and responsibilities and establish how each person will contribute to your firms’ triumph in the market. 

6. Make a list of the products and/or services your online sales business offers

Probably the most read- and talked-about part of your online shop business plan. For this reason, it is valuable to give it its pride of place. Furnish the readers with a section that illustrates key details about them. 

If you plan on selling many items, include general information about each product line before getting more specific for each product. Publish clear photos, fact-based but enticing descriptions, and other pertinent product information. Chronicle how new products or services will be launched and when along with how they will impact and hopefully improve your company’s profitability. 

7. Build a simple, easy-to-follow financial plan

The survivability of your business venture relies heavily on its financial health. It doesn’t matter how good your products or services are. Investors and employees alike will want to be associated with a shop that is financially viable for a long time to come. 

A sound financial plan contained in your online shop business plan often includes the following items: 

Income statement – revenue sources and expenses to illustrate your firm’s profits and losses

Balance sheet – to show how much equity have in the business

Cash flow statement – very much like an income statement, except it accounts for when revenues are collected and expenses are paid

8. Create a marketing plan in your business plan for the online store

Taking your inspiration from your ideal customer, you should be able to construct effective and fruitful marketing efforts and campaigns. Your marketing plan should clearly demonstrate your decisions for the company’s present and future strategies, focusing on how they fit your optimal client. 

Most marketing plans include details on five key topics. Each topic depends on your target audience or dream patron and your business. These key topics are: 

Price – how much do your products or services cost? Why is it priced as such?

Product – what are you selling or what services do you offer, and what makes you different from the market?

Promotion – How will you make your products or services known to your model purchaser?

Place – where will you be selling your products or offering your services?

Profit – how much money do you think you’ll make over a certain period of time?

9. Devise a logistics and operations plan

Product prototypes, organizational charts, and starting capitals will get you nowhere unless you have reliable logistics and operations workflows. Just think: How can you hope to make a profit if you can’t even get your products or services to the end user? 

This area of your online store business plan is meant to indicate to the reader that you have a solid understanding of your supply chain and that you have sound contingency plans for emergencies and delay-causing events. This plan should contain:

Suppliers – where your raw materials or products come from

Production – will you be making your products, or will they be dropshipped? How many alternate products do you have?

Facilities – where is your company based? Do you have an office or a physical store as well?

Equipment – the tools and technology you will be using on a daily basis

Shipping and fulfillment – will you and your team be handling this part yourselves, or will you be getting a third-party provider?

Inventory – how much do you keep on hand, and where will your stocks be stored?

10. Construct an appendix for your online sales business plan

The last section of your business plan that should be allotted for an online store is the appendix. This is where readers will find additional information and supporting documents that cannot be found or accessed anywhere else. Attach a table of contents to save time and energy when trying to locate a document. While you’re at it, make sure that the business plan is stored in a secure place while also being viewable from anywhere at any time by keeping it online. These resources may include: 

Bank statements

Business credit history

Legal documents 

Letters of reference

Permits 

Patents 

Resumes 

Creating the best online sales business plan

Knowing the importance of an exceptional business plan might make the actual exercise of putting it all together more tedious and stressful. You can get started with the following tips: 

Get to know your audience – who will be reading your online sales business plan and keep them in mind while you’re putting things together

Have a clear goal – what is the business plan for – more funds or just for you and your team to have a guide?

Research – tap into the wealth of information available online to access research and studies to aid in your business plan

Keep it short and concise – a business plan for an online shopping website should be no longer than 15 to 20 pages at most

Use a software – work with a tool that will help you produce a logical and reasonable online shop business plan 

What is a business plan?

A business plan is a document that outlines a business’ identity, mission, vision, and values along with its products or services on offer. A business plan also defines how a business will make money, its leadership and staffing structures, financing and operations models, and the other ingredients to its success. 

Who needs an online sales business plan?

Ideally, any enterprise about to be launched needs an online sales business plan. Though you may be working with a small team or even on your own from your home, you will need an online store business plan. It’s a clear roadmap to success for you and your store. 

Why do you need a business plan?

Here are some of the many good reasons why you need a business plan, regardless of the size of your team or company: 

• To make your ideas clear
• To anticipate problems and create solutions
• To gather feedback from others – employees and customers alike
• As a formal, documented plan for your venture to present to investors and other contacts
• To serve as a guide as your business grows

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2023 Playbook: How to Create a Revenue-Generating Sales Plan [Template + Examples]

Casey O'Connor

What Is a Sales Plan?

Why do i need a sales plan, how to create a sales plan: 7 steps + what to include, types of sales plans, how to measure sales progress, what to include in a sales plan template, sales plan template, sales plan examples, tips for creating a winning sales plan.

A sales plan is a detailed, A – Z roadmap for salespeople that outlines the various stages, executable actions, methodologies, outcomes, and goals of the sales process.

The document provides the sales team with an action plan for executing their roles and responsibilities in supporting your company goals.

In this article, we’ll go over all the steps you need to take (and exactly what to include) in order to create an effective sales plan as well as examples, templates, and proven tips.

Here’s what we’ll cover:

• How to Create a Sales Plan

A sales plan is very similar to a business plan , except that it focuses entirely on sales activities. It’s an all-encompassing playbook that spells out everything a salesperson might need to know about what they’re working toward within their company, including: 

• Strategies or methods to adopt
• Action steps to follow
• Team players, their specific responsibilities, and the skills required to do their jobs
• Potential pitfalls and challenges
• Individual and team-wide, short-term, and long-term goals

An effective sales plan should be very thorough, and should outline for your salespeople all the various steps — and their potential outcomes — they will need to take in order to play their part in meeting the company’s targets.

A sales plan is meant to help sales reps understand their specific roles and responsibilities, and how their actions and outcomes contribute to the bigger picture. 

Like a business plan, a sales plan is a customizable document and should reflect the specifics of your company or small business. What you include in the document — and how you go about creating it — will be unique to your scenario. 

With that being said, there are some guidelines and best practices to follow to ensure your sales plan is as effective as possible. We’ll go over all of those later in this article.

First, let’s look at some of the reasons why it’s so important to make a sales plan.

For many sales reps, the name of the game is closing deals . It can be easy to lose sight of the process in favor of converting as many leads as quickly as possible.

But solidifying and systemizing the sales process is critically important. Creating a sales plan will help you:

• Maximize the efficiency of your sales process by determining which strategies and methods are most effective with your target market
• Identify a variety of targets and goals, and encourage your sales reps to continually strive to meet them
• Track individual and collective performance data from every stage of the sales process, which will help fine-tune your sales process and determine your budgeting needs

Though it may require some time and effort on the front end, creating a sales plan will pay off in spades in the long run.

It doesn’t matter how skilled or talented your sales team is — if they’re not efficient in their sales activities, they will never reach peak performance. 

In fact, most top-performing companies report that their sales activities are carefully structured , far more so than average or underperforming companies.

Having a structured system allows your sales team to meet their sales goals more quickly and easily. The detailed roadmap of the sales plan enables your reps to waste no time deciding what to do next, wondering whether what they’re doing is working, or how close they are to meeting their goals. 

One of the most effective ways to motivate a sales rep is through expertly crafted sales goals . It’s important that your goals are lofty, and will drive your business forward, but they should also be achievable. 

Once you’ve set effective goals, you also need to be able to see what steps and actions are helping you meet them, and which need some fine-tuning. 

Although your sales plan will be unique to your company’s current operating status and future goals, there is a relatively standard process that will help most sales managers create one to suit their needs. 

These seven steps will help you know where to start — and what all to include — in your sales plan.

1. Mission Statement & Positioning

Before you start nailing down the specifics of your goals and sales actions, it’s important to have a clear understanding of the big picture. What is your company’s purpose? What do you do and why do you do it? What are your company values? All of these things come together to form a company’s mission.

Creating a mission statement is an all-hands-on-deck exercise. Your company’s mission is developed by and given contributions from many departments. Be sure to consult with your marketing, account management, and content management teams, along with any other stakeholders that are impacted by the company’s larger purpose (in other words, everyone!). 

It’s also important during this step to acknowledge your company’s current position in the market. Who are your main competitors? What is the value you offer that sets you apart ? This isn’t necessarily part of your mission statement, but it does help your sales team understand where they currently fit in the bigger market picture.

Once you’ve zoomed out and gotten a handle on the higher-level ideals and values of your company, it’s time to dive into the nitty-gritty.

Do not cut corners in this step. The more specific, the better, and you should consider setting smaller, highly targeted goals for every stage of the sales pipeline .

For example, a high-level goal may be to close 100 deals in a month. That’s a good start at a SMART goal, but challenge yourself to go several steps further . Reverse engineer those 100 deals, and look at all of the steps that happened before close that helped you arrive there.

How many cold emails did it take to close a single deal? How many phone calls are reps making before qualifying a prospect ? How is your social media engagement ? Your sales process map can help you identify and target each individual step in the process, so you can create smaller, stepping-stone goals.

Here’s a general structure:

One last tip: make sure to set goals for activities that are directly within a sales rep’s control — things like how many phone calls they make in a day, or how long their demo takes to present — and the outcomes that are driven by those activities (like revenue or number of deals closed).

3. Sales Team Organization & Structure

Here is where you’ll outline your team roster , so to speak. This section of your sales plan should start with an overview of your current sales team, as well as the specific roles and responsibilities of each team member. 

Beyond that, it should also outline the specific skills and/or training that your sales reps currently possess, and what they (ideally) still need in order to be successful. You should also consider including projections for future growth or openings on the sales team. Similarly, you may consider including your compensation plan within the sales plan. 

Some of this section will be forward-looking and dependent on your sales budget — don’t exclude something just because it’s not happening now or seems too expensive. These projections will help further shape your revenue goals and allow you to budget appropriately. 

This section should rely heavily on self-reports from your sales reps. Take the time to interview them individually about how they view their role and what they currently take responsibility for within the sales process .

There are no right or wrong answers here, so be sure to let your reps know that this isn’t a performance evaluation. The point of gathering this kind of input is to see, from a high-level perspective, which responsibilities are currently well-served, and which need more attention.

4. Target Market & Buyer Persona

As important as it is to clearly understand the internal workings of your sales process, it’s just as important to outline things from the customer’s perspective.

5. Sales Strategies & Methodologies

In this section, you’ll want to give an overview of the various sales methodologies that are most successful for your target market, as well as the actionable steps required for each one. 

This doesn’t mean that you need to adopt one approach and stick with it. Many top-tier sales teams use a hybrid approach to sales strategies, combining a variety of methods depending on the rep and the customer. 

For example, you may find that inbound leads respond best to a value-selling approach.

This section works best when it’s laid out according to each stage of the sales cycle .

The sales landscape is changing faster than ever, particularly with the rise of social selling . With that in mind, here’s another reminder to update this section with best practices as you continue to adopt and practice new strategies.

6. Sales Execution & Action Plan

If the sales organization structure section is your roster, then the execution & action plan is your playbook.

Here is the real “meat” of your sales plan. This section is where you will outline the very specific sales activities, timelines, deadlines, and milestones that you expect to take place throughout the sales process. 

Be as specific as possible here. “Make 200 cold calls” is far more executable than “Call prospects.” The SMART goals and sales strategies you outlined will drive your execution plan. Include all relevant deadlines, as well as the individuals directly responsible for meeting them. It can be beneficial to break this section down into monthly, quarterly, and yearly timelines.

Tip: Grab this free interactive worksheet that helps you identify the number of calls, conversations, new opportunities, and deals needed to hit your quota each month.

The specificity here will serve two primary purposes.

First, it will be an enormous help to your sales team. There’s no better way to learn on the job than with a step-by-step manual. It also makes the onboarding process very smooth.

It will also allow you to pinpoint which stages of your sales process are converting well, and which need help. It can show you where your sales team’s energy is currently going and where it’s most needed. If, for example, you see that most reps are spending 70% of their time prospecting and still not meeting their quotas, you may want to reconsider your marketing plan.

7. Measure KPIs

The last part of your sales plan involves measuring and analyzing your sales KPIs . What you measure and how you measure it will depend on your specific company, but it’s important to standardize them across the company so that everyone is working toward — and knows exactly how to achieve — the same sales targets.

Most companies choose to track both primary metrics — the ones that measure your overall, big-picture progress — and secondary ones that indicate levels of success throughout the various stages of selling. We’ll go over some of these in the next section.

A robust CRM  can help you manage and track the many moving pieces of the sales process.

One of the most useful things about sales plans is that you can create one for just about any scenario your sales team might encounter. 

Whether you’re entering a new market, launching a new product, or simply wanting to grow your revenue, a sales plan specific to your goals can make all the difference in your success.

Here are a few examples of the different types of sales plans your team might create.

Annual/Quarterly/Weekly Sales Plan

One straightforward way to write a sales plan is by determining goals for a specific time period. 

Most sales teams create weekly/monthly/quarterly/annual goals; a sales plan can help everyone involved achieve those goals. 

A sales plan created around a specific time period should include revenue goals, specific sales strategies and tactics, and a means for measuring progress. 

Here’s an example of a quarterly sales plan :

New Product Sales Plan

A new product sales plan details the goals, strategies, tactics, and people involved in launching a new product. It’s essentially a blueprint for how to generate sustainable revenue from the launch.

A new product sales plan should also include competitive analysis, details or ideas about any potential strategic partnerships, information about your unique selling points, and a sales enablement strategy for the launch.

Customer Segment Sales Plan

A customer segment sales plan helps sales reps understand the many different sub-groups in their target market, and how to sell most effectively to each.

Your customer segments may be determined by geographic area. They may also be segmented by other demographic information, like company size or revenue bracket. A customer segment plan outlines the specifics of each of those segments and helps you optimize your sales strategies and tactics for each one.

30-60-90 Day Sales Plan

A 30-60-90 day sales plan is a popular option for new sales hires. This kind of sales plan outlines the approach and specific strategies that a new sales rep will take in their first 90 days on the job. 

Days 30 through 60 are for putting the plan into action. Sales reps should jump into the sales process and track their progress, challenges, and successes. These will be analyzed later in order to optimize the process. 

Days 61 through 90 are all about fine-tuning the plan. Sales reps should take the data they gathered through the first two phases and use any insights gained to create a new and improved iteration of the sales plan.

Market Expansion Sales Plan

If you’re hoping to start selling to a bigger market, a market expansion sales plan might help structure the process and improve productivity and results. 

A market expansion sales plan outlines what a sales team must do in order to successfully expand into a new market or territory. Most often, this kind of plan addresses expanding into a new geographic market. 

A market expansion plan should address distribution efforts to the new territory, as well as time zone issues and other logistical considerations. 

Revenue-Based Sales Plan

A revenue-based sales plan is based on — no surprise here — revenue.

This type of sales plan focuses on sales forecasting and strategies to improve conversion rates in order to close more deals and improve the bottom line.

There are a number of ways to use your sales plan to measure your sales progress. Remember, your sales plan is a living, breathing document and should be scrutinized and updated as often as needed to reflect your current sales team, product pricing, market conditions, and sales tactics.

As your sales plan changes over time, your measurable metrics may need updating, as well. Consider tracking some of the following KPIs to keep your finger on the pulse of your team’s progress.

Revenue is one of the most straightforward metrics to track, but keep in mind that there are many ways to approach this. You can measure revenue in one or several of the following ways:

• Overall revenue
• Revenue by product
• Revenue from new customers vs. existing ones
• Revenue by territory or market

If you only track overall revenue, you lose out on valuable insights for growth. Your total revenue, for example, might look healthy, but a closer look could reveal that it’s streaming almost entirely from existing customers. Tracking revenue from new customers would highlight the fact that your company needs to focus on customer acquisition in order to continue generating new business. 

Sales Activities

You can also track the day-to-day behavior and sales activities of your sales team. Consider monitoring things like:

• Social media engagement
• Scheduled meetings
• Demos and presentations

Remember, none of this is meant to spy on your sales team or micromanage their progress. Instead, the goal is to promote growth and efficiency. 

Funnel Metrics

The sales cadence is another lens through which to analyze your team’s progress. Take a bird’s eye view of your sales pipeline and start tracking some of the following:

• Length of sales cycle
• Number of closed deals
• Number of deals that didn’t close after reaching a certain stage
• Value of the pipeline by individual and team, by month and by quarter
• Average contract value
• Conversion rate

Tracking these metrics will help you see any kinks in the overall process.

Lead Generation Metrics

When you track your lead generation progress, you can get valuable data about how effectively you’re reaching your target customers. The following data will help you set benchmarks and reach your business goals. 

• Volume of new opportunities
• Lead response time
• Percentage of follow up 
• Dropped leads
• Qualified leads
• Customer acquisition cost

If any of these metrics are lagging, you may want to work with your marketing or content teams and reconsider your marketing strategy. 

Sales Productivity Metrics

Sales productivity metrics are great for seeing where your reps’ sales efforts are going. These metrics can be a bit more tedious to measure and track, but are well worth studying in the long run.

• Entering data
• Creating content
• Number of sales tools used
• Percentage of lead follow-up

Time is money, and knowing where your time is going has a direct impact on your bottom line.

Ultimately, it’s up to sales teams (ideally in collaboration with marketing) to decide what information will be most useful to them within a sales plan. 

Here are some of the more common components that teams include in their sales plans. 

Mission Statement

A company’s mission statement gives a high-level, goal-oriented synopsis of its purpose and how it serves the market.

Although this isn’t necessarily an actionable component of the sales process, it’s good to include it in the plan so that it’s front of mind as your team works to meet the goals laid out in the sales plan.

Target Customers

Your sales plan should always outline who your offer is best-fit to serve. 

At a minimum, your sales and marketing teams should collaborate to define the ICP and buyer personas. But certain sales plans need to go beyond the basics and define their target market into subgroups. Some examples of customer segments might include:

• Upsells and cross-sells

Your target customer segments can also be defined by geography, demographics, and company size — just to name a few. 

Team Structure

Many teams also include a section that succinctly outlines the people involved in the sales process, and their specific roles and responsibilities. 

Effective sales plans outline roles and DRIs, so it’s a good idea to ensure that everyone has access to the roster, so to speak, as they execute the sales plan. This is especially important for larger sales teams.

Sales Goals and Revenue Targets

Every sales plan needs to include the goals it aims to achieve. 

Remember to follow the SMART goal framework; our goals should be specific, measurable, achievable, relevant, and time-bound. 

It’s especially important to make clear in your sales plan how your team plans to track your progress toward those goals. How and when will you monitor/measure performance? What are the performance benchmarks you’re hoping to achieve in a given time period? These specifics should be outlined in full in your sales plan.

Performance During the Prior Period

You can give your sales plan context by including data about your team’s past performance in your goal areas. This helps salespeople understand how much of a gap they need to fill in order to succeed.

Strategies and Tactics

Your sales plan must include details about the specific strategies, tactics, and/or methodologies your team will use to reach their goals. This section should be action-oriented and aligned with the unique buyer’s journey of the target market.

You’ll also want to include details and actionable insights about any specific sales strategies you want your team to use.

Pricing and Promotions

Most sales plans will also need to include at least basic information about your offer’s pricing structure , and whether or not you plan to offer any promotions. 

Be thoughtful about these numbers, especially promotions. Sales teams need to strike a fine balance between attracting customers with hard-to-refuse deals and making enough profit to affect the bottom line in a meaningful way.

Deadlines and DRIs

Every sales plan needs to include clear information about who is responsible for which deliverables, and when those deliverables are due.

Everyone on the team needs to be clear on the DRIs (directly responsible individuals) for each step of the plan.

A timeline can also be a very helpful visual component of a sales plan.

It’s also a good idea to include an overview of the resources and/or tools your team will need to use in order to execute the plan successfully.

Resources might include a CRM system, project management software, sales enablement tools, forecasting software, or a sales dashboard . You should also include a breakdown of the budget.

Market Conditions

You can also add some context to your sales plan by including insights about the current state of the market.

Information about general trends and potential disruptions in the industry can help motivate your sales reps to buy into your sales plan, as well as help them know how to approach their responsibilities. You’ll also want to include an in-depth competitive analysis.

Below you’ll find a basic sales plan template that you can copy and paste as a starting point. Remember, the sales plan is meant to be highly specific to your company, so it’s likely that the template here will not meet all of your needs. Instead, treat it as a jumping-off point and customize it until it captures all of the pertinent information.

[COMPANY NAME]

SALES PLAN [YEAR]

1. Mission Statement

3. Sales Team Organization

4. Target Market

• Demographics (Age, Marital Status, Location, Profession, Etc.):
• Challenges:
• Pain Points:
• Objections:

5. Sales Methodologies

6. Action Plan

[This section is highly specific to your preference. Consider formatting as a list, table, or flowchart.]

Here are a few examples of sales plans to fit a variety of scenarios. Remember, these are intended to be templates or starting points; they should be tweaked or changed to fit the unique needs and goals of your team.

Basic Sales Plan Template

Best Templates offers a comprehensive and straightforward sales template that can be adapted to fit just about any sales goal.

Simply download the template and fill in each section with relevant data and information. This template includes sections for goals, lead demand generation, implementation, and progress tracking.

Single Page Sales Plan

If you’re going for brevity, a one-sheet sales plan might be a good fit for your team.

This template gets right down to brass tacks; it includes space for budget details, deliverables, and KPIs.

Customizable and Design-Forward

For a sales plan that’s custom to your needs and looks great to boot, try Venngage . Venngage is an online sales plan creation software that helps sales teams create actionable, visually engaging sales plans.

Venngage offers users the ability to choose from dozens of layout templates that they can further customize with charts, photos, and illustrations. 

Tip: If you’re interested in the checklist above — grab the Google Docs version of it here.

Microsoft Word Sales Plan

This template allows sales teams to tackle multiple goals at the same time, making it easy to get a bird’s-eye view of how close your team is to achieving both individual targets and big-picture goals.

Tip: Grab more sales plans here –> 13 Strategic Sales Plan Templates

Here are some of our best tips for creating a sales plan that gets results.

Get Input From Marketing

Your sales plan will only be effective if your marketing team can attract the right leads. 

It’s essential that sales and marketing teams remain in close collaboration as they create, track, and manage sales plans.

Understand Your Sales Rep’s Challenges

You can enable your sales reps to be most successful by creating your sales plans around their strengths, and taking their challenges into account.

Of course, sales reps will likely always encounter challenges during a deal — that’s to be expected. But the best sales plans are the ones that leverage their team’s strengths to get the job done and have built-in workarounds to address the team’s needs and potential challenges. 

Don’t Move the Goal Posts Once It’s Complete

Although it can be tempting, it’s important to finalize your sales plan and refrain from editing it until the given time period is complete. 

Your team will be best-served if you stick to the plan, collect data on the process, and use those insights to further optimize your next sales plan.

Get Feedback

Share your sales plan in draft form with members of other teams. Customer success , marketing, and finance teams can all offer valuable insights into how the proposed sales plan fits into the bigger picture of the company’s goals. 

Set Individual Goals and Milestones for Your Team

All sales plans should include SMART goals for the sales team. But some of the most effective plans also include SMART goals for each individual sales rep that’s involved. This helps keep everyone on the team accountable.

This guide was updated on November 30, 2022.

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• Marketing and Sales Strategy
• 11 July, 2022

10 Steps to Create a Complete Sales and Marketing Business Plan [Templates included]

Jump to the end of the post to get access to our free sales and marketing business plan templates.

Turning an idea into a functional business requires laser-sharp focus. You must take care of development, marketing, sales, customer success, and whatnot. 

While most entrepreneurs start with some form of a plan, they often forget about it soon after. 

Blame it on changing dynamics, trial and error to find a product-market fit, or blatant ignorance. But overlooking the planning process is a sure shot reason for failure — as the common saying goes, failing to plan is planning to fail.

An essential part of this document is the sales and marketing segment. The sales and marketing plan outlines everything you need to do to promote your products and generate revenue for your business. 

Why do you need a sales and marketing plan? 

Having a revolutionary product that solves a genuine problem is great. But it won’t mean anything if people don’t know about you. 

A sales and marketing plan helps you get discovered, structure your activities, and move forward with your growth goals. 

It’s more or less like a roadmap about what you should do to make things work in your favor. 

Your sales and marketing plan will help you: 

• Identify the bridge between where you are today and where you want to reach your business goals. 
• Get much-needed clarity and avoid conflicts and confusion in case of any disruptions.
• Gain and document insights about your target audience, industry, trends, costs, etc. 
• Justify your business model in front of investors and lenders in case you need to raise funds.
• Stay focused on a north star metric, improvise growth tactics and achieve harmony between various growth activities. 
• Promote sales and marketing alignment.

Your sales and marketing plan would also help you avoid distractions and save time and money lost. 

And you know how easy it is to lose direction and get distracted when starting or running a startup. Documenting everything as a plan will help avoid confusion and add clarity to your everyday affairs and long-term mission. 

However, different companies need different plans based on the stage of operations and their unique growth goals. 

A clear marketing and sales plan promotes alignment between marketing and sales departments at every stage . This reduces resource waste and creates fewer “blame-game ” occasions in your meetups. 

What to include in the marketing & sales plan? 

Planning is a subjective activity. 

You’d receive several different answers if you read, talk to, and consult multiple experts on what to include in your marketing and sales plan. 

So, how should you decide which elements to include in your marketing/sales plan? 

Let’s take a step back and understand the “why” of planning. 

You need a plan so you don’t get confused and can keep walking towards your goal.

Your plan should: 

• Serve as a roadmap for everything related to sales and marketing for the first few months if you’re just starting. 
• Outline and articulate the core strategies you’ll experiment with, the desired outcome, and the KPIs to measure performance. 
• Set realistic KPIs, outcomes, and objectives based on market understanding, competition, funding requirements, and your target audience’s pain points. 

Marketing plan for your startup: The what and why

In an ideal world, every penny you spend in marketing should enhance your visibility, take you closer to your audience,  and increase your conversion rates. 

But in reality, it takes a lot of effort, time, and investment to make it happen. 

A marketing plan helps you navigate through the tricky maze called marketing without getting lost in the process. 

Basically, you build a marketing plan to gain enlightenment about how you’ll promote and stay relevant to your audience. 

You do it beforehand so that when things get tricky, you have a directional beacon to guide you.  

Creating any plan should start with an understanding of the purpose. The same applies to marketing, too. Try to find the reason behind marketing your product – why are you working towards your goal. 

Knowing your why would help you gain clarity – an essential element for the success of any activity on the planet. Before you begin, you should try to find answers to the following questions: 

• Why are you making the marketing plan?
• What do you want to accomplish with the marketing?
• What will be the value proposition? 
• What are the goals that we want to achieve?

These answers will allow you to think better and prepare for strategizing your plan with a better perspective. 

Also, while at it, remember that your marketing plan is not a rigid document etched in stone. Instead, it’s a result of an iterative process that depends on five fundamental aspects: 

1. Product: What are you marketing? 

The product section should explain what you are selling exactly. 

• What do you sell? 
• How is your offering different from your competitors?
• What are the benefits your potential customers would derive from your offerings? 
• What is your core USP? 

Answering these questions would help you craft a great positioning statement and marketing message for your marketing campaigns. 

2. Place: Where are you available? 

This section should outline where you will sell or market your products. How will you get customers to reach out to buy your product or service? 

Though this will depend on the nature of business — online or offline, manufacturing or services, answers to the following questions would help you gain clarity: 

• Where will you be available for your customers? 
• Which distribution channels would you use to be more accessible to customers? 
• What percentage of sales/conversions do you expect from different distribution/marketing channels? 

3. Price: How much will you charge? 

This is an essential part of your planning process. Your pricing decisions would decide how you will generate revenue for your startup . 

Your pricing decision should be based on market analysis, competition, value offering, buying behavior, etc. 

• What will be the pricing model you’ll adopt to generate revenue? 
• What is the most favorable price point that your customers are ready to pay for your offering? 
• Will you make any profit/loss at this price point? 
• How soon can you break even based on your pricing strategy? 

4. Promotion: How will you promote your offering? 

You can have the best product, but no one would care if you’re not promoting it. 

Moreover, one of the primary reasons to create a marketing plan is to help you promote your offering. 

• Who is your target audience? 
• How will your reach your target audience? 
• What strategies will you adopt to convert your audience into customers? 
• Which channels of promotions will you use to promote your offerings? 
• How much will you spend on promotions and marketing? 
• What will be your team structure for the next quarter, year, and long term?
• How will you track the marketing effectiveness? 

5. People: Who will do the marketing?  

While most marketing plans you see out there would cover the traditional 4Ps of marketing, often the fifth P, people, is ignored. 

And you know there’s no growth or promotion without your team – your people. 

This aspect should help you understand your current capabilities and the resources needed in your team. Think about how you will find them, their responsibilities, and where they stand in the big picture. 

• Who will do the marketing for you? 
• What do you look for in a human resource?
• At what point do you start expanding the team? 
• Who are you going to hire first?
• How do you plan to hire for marketing? 
• What will be the core responsibilities and KPIs for your team? 
• How will you set KPIs/OKRs and analyze your team’s performance? 

Sales plan for your startup: The what and the why

Your sales plan would help you generate revenues from your marketing efforts by completing the journey from generating leads to turning them into customers. 

A sales plan defines your sales goals, the strategies you’d bet on, your desired results, your challenges, the solutions you have for them, and the structure (people, budget, process, and tools) you need.

Your sales plan would cover everything you need to register sales and generate revenue for your business. 

A sales plan is created to: 

• Provide a strategic direction to your sales team
• Define the core objectives and goals in terms of sales 
• Outline roles and responsibilities
• Analyze and measure your wins in terms of sales. 

These reasons help you succeed more than experimental businesses that beat around the bush while trying to make things work in a world where everyone’s selling something. To ensure your sales plan is effective, it should include: 

1. Sales goals — What do you want to achieve? 

Like any other activity in the world, your sales planning process should also revolve around the end goals for sales

Saying that you want more customers is a generic goal that doesn’t have any tangible metrics attached. Moreover, saying that you wish for more sales is too broad a goal that would involve outlining several action steps. 

So, it’s always better to have a SMART goal and break it down into tangible, measurable, and KPI-driven objectives. You can say that you want to: 

• Nurture 10% more MQLs into SQLs, and ultimately, customers.
• Reduce your churn rates by 5% before the end of Q1.
• Expand your sales team with 3 people to nurture and convert leads faster — reduce time to conversion by 5 days.
• Increase the customer lifetime value through upsells or cross-sells by $200.
• Expand your sales activities into new territories or regions.
• Optimize your pricing strategy to improve your conversion rates by 8% for new accounts.

2. Tactics — The process and activities

This segment will include the specific tactics, processes, and activities you’ll use to generate revenue for your business . 

A solid understanding of your target audience, goals, and capabilities would help you discover exciting and profitable tactics for your industry. 

Try to pick and choose the tactics in line with your ideal customer profile. You can conduct a survey and get insights from your marketing team to align your sales efforts accordingly. 

An aligned sales and marketing team will help you accelerate sales enablement and strike gold with more leads, higher conversions, and better results. 

Interested in exploring new sales tactics? Read this blog on popular sales strategies and techniques for your business. 

3. Timelines — The time you’ll need to make things happen

A plan without a timeline is just a wish. You must link your goals, tactics, and sales strategies with realistic deadlines. This will ensure that everyone’s motivated to work towards your goals. 

Keep all the stakeholders in the loop by developing a realistic growth goal and attaching a practical timeline to it. 

While you’re at it, don’t forget to assign one person who’ll be responsible for ensuring compliance. 

This tactic is known differently in business circles. 

Some call it a key Point of Contact (POC) for an activity; others call this person a Directly Responsible Individual (DRI). 

Another popular approach includes assigning OKR (Objective and Key Results) to an individual in a team who owns up the responsibility of making this happen. 

Whatever you may do, make sure you are realistic, practical, and sensible in creating achievable deadlines for your sales teams. 

Failure to do so would lead to dissatisfaction among sales team members, ultimately harming your bottom line. 

4. KPIs — the metrics you’ll track to determine success 

KPIs will help you understand if your sales tactics align with your revenue generation goals. These metrics help enhance sales teams’ performance, optimize the sales funnels, and improve conversion rate. 

If you want a solid sales plan, you need to tie everyone (and everything) to a tangible sales metric. 

You also need to ensure proper sales and marketing alignment so that all your marketing spends get attributed to some kind of improvement in KPIs. 

Here are some questions and corresponding KPIs you can think of adding to your sales plan: 

If you track these KPIs well, you’ll understand the challenges better, predict future problems, and get better at generating revenues from your sales activities. 

Moreover, the answers you gather and the KPIs would help you keep an eye on the overall efficiency of the sales process and build a strong sales team. 

Apart from these standard inclusions to your sales plan, you can also add the following information: 

• Team structure: How big your sales team should be, and what will be the responsibility (job role and KPIs) of each member of the team? 
• Resources/tools required : What tools and resources do you need to execute the sales tactics and strategies you’ve planned? 
• Current market trends: How is the present market regarding customer interest in your product, competition landscape, and overall sentiment in your industry? 

Rethinking the traditional plan for digital businesses, service companies, and SaaS startups 

The traditional ways of creating a sales and marketing plan are geared more toward the product economy. 

Today, most businesses don’t even have a physical “product”.

Distribution and conversion cycles are not so simple, too.

The sales and marketing ecosystem has transitioned from a single-sales mindset to a culture of lead nurturing , upsells/cross-sells, and experiences to enhance the customer’s lifetime value. 

Even users don’t look at companies, products, and solutions like they used to anymore. 

Don’t you think the old ways should be reimagined? 

In his book, Subscribed, Tien Tzuo mentions how the world economy is transitioning to a digital era powered by subscription-based startups and digital businesses.

Naturally, with changing consumer mindset, the traditional business planning models (including sales and marketing plans) should change, too. 

There has been a hot debate about reimagining marketing and sales operations for the future — digital businesses, SaaS products, and the subscription economy. 

PADRE is a promising framework with all the elements of a traditional business plan, reimagined for the modern digital economy. 

The PADRE framework keeps the customer at the heart of everything and divides all activities (including sales and marketing) into eight subsets: 

• Position: How will you create awareness, turn it into demand for your product and build a pipeline of leads? 
• Acquire: What is your ICPs buyer’s journey? How will you address their pain points and turn them into customers? 
• Deploy : How will you onboard , service, and delight your customers as efficiently as possible so they can use your product, service, or SaaS quickly?   
• Run:  How will you ensure that your customers get what they expect (and deserve) from your product or service? 
• Expand: How will you grow your company through retention, growth, and customer advocacy? 
• Product: How will you evolve your product, service, or offering and manage everything? 
• People:   How will you recruit, onboard, train, and retain the best talent to serve your customers? 
• Money: Where and how will you fund and fulfill your need for running and growing your business most efficiently? 

If you look at the PADRE model carefully, it has almost all the elements discussed above for sales and marketing plans, just in a different way. This differentiation makes more sense for a dynamic digital business than the traditional sales and marketing business plan. 

You can take ideas from the PADRE model to create your version of a dynamic business plan based on your unique business idea. 

10 steps to create a solid sales and marketing plan

Regardless of your approach to creating a business plan, you will have to gather data, make some important decisions, and collate everything together. 

Remember, your sales and marketing plan is a living document that should be revisited repeatedly for optimization. 

Here are the steps you can take to create an actionable plan based on the insights shared above: 

Step 1: Gather data based on company insights and external trends

“Always measure the depth of the pool you’re diving in!” 

Before you start planning your sales and marketing observing and documenting macro-level industry trends is a must. It will give you an understanding and insight into what to expect in the future. 

You can use industry insight to strengthen your assumptions, understand the market, add clarity to your sales and marketing mix, and refine your plan. 

Always look for industry insights around sales and marketing trends — what worked in the past, how things are changing, and what future trends will drive growth. While industry trends are not a full-proof solution, it gives you a direction to provide a concrete shape to your plans. 

Use industry trends to add “meat” to your hypothesis, and see if you can get data about: 

• Consumer behavior and psychology that drives sales. Use the Facebook Ads manager audience tool to find your audience’s topics of interest and behavior trends.
• Psychographic analysis of your target audience.
• Marketing effectiveness of different channels. You can use platforms like Similarweb to peak into the traffic sources of your competitors and get an estimated idea of the volume.
• Sales trends of lateral and complimenting businesses. 
• Competitor analysis, including their past financial performance and effectiveness in generating revenue. 

Step 2: Create your ideal customer profile (ICP) 

As a business owner, you must know everything about your target audience. 

Without a deep understanding of your ICP, you could end up like a door-to-door salesman trying to sell but end up annoying everyone. 

This information helps you take the necessary steps to add context and relevance to your marketing and sales plan. 

You should break up your ideal customer persona (ICP) into several sections covering all aspects of your persona’s — the demographic profile, what they think, believe, and trust in, their needs, motivations, drives, and psychographic profile. 

Sample questions for building an Ideal Customer Profile

Knowing your audience allows you to talk the way they want to be talked to. Also, you get to understand what makes them buy, their problems and pain points, and where they spend most of their time. All this is crucial for creating an effective marketing strategy. 

You can even use this knowledge to segment your audience personas and personalize your marketing campaigns — a powerful tactic to market your brand in 2022. 

Step 3: Assess your current situation 

Once you’ve gathered data and foresight, start the self-introspection process. 

Ask yourself where you stand in your startup journey. 

✓ How is your business performing right now? 

✓ Are you performing according to your revenue estimates and KPIs? 

✓ Do your business and revenue generation efforts align with market and industry trends? Do they need to align?

✓ Are you marketing and selling where your customers are looking for options? 

✓ What are your strengths and weaknesses? 

✓ What challenges are you facing in getting your business to the next level? 

✓ Is there any better way of doing things than you do now? 

All these questions will give you ideas to start the actual planning process. Moreover, you’d understand if whatever you did was even worth it. 

Step 4: Define metric-driven objectives and goals

Have you ever traveled without a destination? 

Well, maybe you have. But that’s not how you run a business. You need to have an exact destination in mind — where you’re headed to. 

That’s why having an objective and goal is essential for making a sales and marketing plan. Tangible and realistic goal-setting should be the #1 priority of anyone trying to succeed as an entrepreneur. 

Your goals will will allow you to track if you’re making a real impact on your business. Plus, having a metric-driven goal gives you an understanding of what you need to do for success. 

Your goals and objectives should be tied to your business vision and mission.

Often, we see there’s a misalignment between sales and marketing objectives. That leads to confusion and, thus, poor performance. Hence setting a SMART goal is critical for ensuring clarity.

SMART objectives for your sales and marketing plans should be: 

• Specific: The goal is clearly defined, and everyone within your team understands the goal and its importance. 
• Measurable: The goal/objective should be tied to key performance indicators (KPIs) and visibly measurable.
•  Achievable: Being realistic is an important factor in setting an attainable goal. Look at your team’s ability, budget, and current situation to ensure the goal is within your limits. Setting the bar too high will only lead to disappointment and wasted time and effort. 
• Relevant: Your objectives should be aligned with your business vision and mission. If your marketing and sales aren’t aligned to your bigger picture, it will lead to losses (and potential conflicts). 
• Time-bound: Any objective you define must have a clear timeline, which means there should be a start and end date. Without that, your goal is just a wish. 

Step 5: Determine metrics for success (KPIs) 

You know you need to measure your goals and objectives in real-time. 

That would ensure everything’s on track and help you red flag any deviations from your desired path. 

But setting a measurable KPI for any business is a tricky business in itself. Especially when there’s a lot to plan in sales and marketing, and every business is different. 

KPI or key performance indicators should be planned based on industry best practices, prevailing marketing trends, and taking stakeholders in confidence. 

You can align standard industry KPIs with your business or marketing/sales goals to create your version of KPIs that will objectify your success figures. 

Standard Goals and KPIs you should track

Always ensure that each KPI you track links to the bigger picture — where and how it contributes to your business’s mission and mission. This will add relevance to your sales and marketing plans giving you more accurate insights for the future periods.

Step 6: Build a forecasting model

Forecasting is an activity that predicts what your sales and marketing efforts will lead to on a monthly, quarterly, and annual basis. 

Creating a sales or marketing forecast involves taking the opinions of industry leaders, financial consultants, CPAs, marketers, sales managers, and your team members. It also will involve studying and analyzing the insights you gathered in step one.

A forecast will help you make better hiring decisions, budget for your expansion in a better way, and linearly predict your revenues. You can also add dynamic variables to the forecasts to analyze how your KPIs would perform under real-life situations. 

Creating a forecasting and budgeting model for your sales and marketing team is highly essential to keep things in check. However, it would be best if you didn’t fall into the lure of creating forecasts for more extended periods as things are changing quite rapidly, especially after COVID-19. 

Better to create a forecast for a quarter, review it based on actual expenses and performance, and keep iterating. You can also take advantage of popular forecasting tools for more accurate models. 

Step 7: Identify gaps within your assumptions 

By this step, you’d have a clear idea about your capabilities, the goals you want to achieve, the industry trends and the forecasts for the future.

This will give you an opportunity to get a bird’s eye view of your sales and marketing activities in terms of your revenue growth. 

You can use this information to plug in gaps because of your assumptions and biases, analyze what’s required and the challenges you’d face to make things happen. 

Identifying gaps between your existing situation and your goals based on forecasts would help you make informed decisions. 

You can choose to hire more people in sales and marketing, increase your budget, try new marketing tactics, or even start an entirely different lead generation and nurturing channel to achieve your goals. 

Step 8: Create a team structure and involve stakeholders. 

The most important part of the planning process is to understand your capabilities. If you’ve assessed your current scenario correctly, you’ll have a clear picture of who’s responsible for growth, marketing, sales, etc. 

And if you’re just starting, this is a great time to start planning a structure for your marketing and sales team, starting with: 

• How many people will be needed for each team? 
• Who will be responsible for specific KPIs?
• What will be the responsibilities of each member of the team? 
• How will teams communicate with each other and ensure alignment between efforts? 
• How will the performance be measured? 
• What are the challenges marketing and sales teams face in your company (or industry)? 
• How will expansion needs be identified?  

Remember, if you’re just starting to build a team and have existing team members, take them in confidence and involve every stakeholder before creating a structure.

The more aligned and closely knit your sales and marketing, the faster you achieve your growth goals. 

• Build a Strong B2B Marketing Organization Structure for Modern Teams
• Sales Operations Responsibilities: Roles, duties, and obstacles
• Revenue Operations Roles: Who do you need to build a RevOp team?

Step 9: Outline action items 

By this step, you’re almost done with the planning. You just need to answer two more questions:

• What do you need to do to achieve your goals? 
• How will you do what you need to do? 

This means outlining action steps, developing marketing and sales tactics, and finalizing the cogs required to run your marketing/sales engine. 

You can start by putting together a rough draft of all the insights you’ve gathered, the available resources, the budget, best industry practices, trends, and growth projections. This will give you foresight into what can work in your favour. 

Build a list of action steps that you need to take to move in the direction of your goals. 

Step 10: Identify and implement tools and systems

Okay! This is the last step of the planning process. After this, you will be left with the exact steps you need to take daily to achieve your KPIs. 

But don’t take this step lightly. Think of this as the building blocks of a bridge that would take you from “here” to “there”. 

You’ll need to make a list of tools, systems, and solutions you’d need to make things happen. 

For example, if you’ve concluded that you need to set up a lead nurture campaign , you need a tool or platform that makes that happen. 

You’ll need to evaluate the available options and pick a tool that aligns with your goals and budget. 

While picking up any tool, make sure that it should: 

• Save time, money, or effort for your marketing and sales team members.
• Have prominent success stories and case studies that closely relate to your goals, tactics, and life stage.
• Is reliable and doesn’t use any under-the-hood tactics to make things happen. 
• Has an active developer and customer success team.
• Is supported by a thriving public community of happy users. 

Make sure that whatever tech stack you’re finalizing has a solid mechanism to track success and your KPIs. 

This will help you ascertain success quicker. Also, communicate with all the stakeholders about the tools and success metrics. 

Ready-to-use sales and marketing plan templates

To make things easy for you, we have prepared comprehensive templates for both your sales and marketing plans. To download the template click on the links below and duplicate the document. Then, fill in the blanks.

Download the Marketing Plan Template

Download the Sales Plan Template

Your sales and marketing plan is a living document. Keep revisiting! 

If you’ve come this far with your planning, you should have a functional plan for supercharging your marketing and sales operations in the coming weeks and months.. 

But remember, sales and marketing planning isn’t a one-time activity. Keep optimizing your plans with fresh insights to stay on track with changing dynamics. And don’t forget to track the right metrics and KPIs.

A marketing automation platform like Encharge can help you to execute your marketing and sales plans. Don’t believe us. Check the success stories to see how others businesses are amping up their marketing and sales game now.

Meet your new marketing automation platform

“encharge helped us visually redesign our onboarding flow resulting in a 10% increase in our trial activation rate .", user segmentation for saas — how well the top marketing automation tools handle it.

Unless you are a sink manufacturer, segmentation is great for your business. For this post, I’ll assume you run a

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Download Sales Business Plan Template for Strategic Growth

Published: April 13, 2023

We're all guilty of subscribing to a myriad of newsletters and blogs by sales gurus who will guarantee that their practices will bring you success – whether it's personalizing your newsletter format, cold emails, or changing the 'Buy Now' button.

News flash – these aren't actual sales business plans or even sales strategies.

Building and developing a solid sales business plan is the foundation of your business. A sales plan outlines your future goals–be it revenue targets, sales targets, or even a marketing strategy–a sales business plan will propel you to always be two steps ahead of the game.

Whether you're focused on eCommerce, B2C, inbound, outbound, or even enterprise companies–a business plan is essential to survive.

So, what's a sales business plan? How do you build it (and stick to it)?

By the end of this guide, you'll be armed with the right plan to win the fight for your business and stay ahead of the curve at all times.

Let's dive in.

What is a Sales Business Plan?

A sales business plan is a strategic document that outlines the goals, objectives, and strategies of a company's sales team to achieve its revenue targets. The plan serves as a roadmap to guide the sales team in achieving their targets by outlining the steps they need to take in order to achieve success.

Here are a few sales business plan statistics -

• Only 22% of companies feel that their salespeople have the necessary resources to be successful. (CSO Insights)
• Companies with a documented sales process generate 18% more revenue than those without one. (HubSpot)
• Salespeople who use social selling techniques are 50% more likely to meet or exceed their sales quotas. (LinkedIn)
• 73% of sales teams say that the ability to collaborate is critical to their success. (Salesforce)
• Companies with a formal sales methodology in place have a win rate that is 28% higher than those without one. (HubSpot)

A sales business plan typically includes a SWOT analysis, which helps to identify the company's strengths, weaknesses, opportunities, and threats in the market. It also includes a target market analysis, which helps to identify the customers the company wants to target and how to reach them.

In addition, a sales plan outlines the sales team's objectives, which include the revenue targets they need to achieve, the products or services they need to sell, and the metrics they need to track to measure their success.

The plan also details the strategies and tactics that the sales team will use to reach their goals, including lead generation, prospecting, nurturing, and closing sales.

Overall, a sales business plan is a critical tool for any sales team, as it helps to focus their efforts, track their progress, and identify areas for improvement.

What is the Structure of a Sales Plan Template?

Sales plans vary from business to business, depending on their niche, the industry they are in, and more, but typically, they include the following sections -

1. Executive Summary

The executive summary is a critical part of a sales business plan that provides a high-level overview of the plan's key elements to stakeholders.

The executive summary should be brief, clear, and compelling, with a maximum of two pages. To create an effective summary, highlight the key points of the plan, including sales goals, target market, sales strategy, and revenue projections. Use simple language and include a call-to-action to encourage stakeholders to take the next steps, such as investing or partnering.

The executive summary is like an elevator pitch, and it needs to grab the reader's attention, communicate the plan's essence, and encourage action.

2. Company Overview

The company overview is a section in the sales business plan that provides an introduction to the company, its history, and the products or services it offers. This section aims to give the reader an understanding of the company's background, goals, and vision for the future.

Here are some pointers to help create an effective company overview -

• Briefly describe the company's history, including how and when it was founded and any significant milestones achieved to date.
• Explain the company's mission and values, highlighting what sets it apart from competitors.
• Provide a brief overview of the products or services the company offers, outlining their unique features and benefits.
• Highlight any key partnerships or collaborations that the company has established to help achieve its goals.
• If the company has any notable achievements or recognition, mention these briefly to help build credibility.

3. Market Trends and Analysis

The market analysis is a crucial section of the sales business plan that provides a comprehensive understanding of the industry and the company's place within it.

This section should cover the following -

• Define the target market by describing the ideal customer, including their demographics, psychographics, and behavior patterns.
• Analyze the industry by identifying its size, growth potential, and key trends. This analysis should also include an overview of the competitive landscape, including the company's main competitors and their strengths and weaknesses.
• Conduct a SWOT analysis to identify the company's strengths, weaknesses, opportunities, and threats. This analysis should help the company understand its position in the market and determine potential strategies for growth.
• Determine the market share and sales potential by analyzing the company's current and potential customers, the competition, and the overall market size.
• Identify any regulatory or environmental factors that could impact the industry, including government policies or changes in consumer behavior.

4. Sales Strategy

By developing a clear and effective sales strategy, the company can ensure that its sales efforts are aligned with its overall goals and objectives. A well-crafted sales strategy can help the company achieve its sales targets, expand its customer base, and gain a competitive edge in the marketplace.

• Define the sales goals by setting specific, measurable targets for revenue, market share, and other key performance indicators.
• Identify the target customers and their needs, including their pain points and motivations for purchasing the company's products or services.
• Determine the sales channels the company will use to reach its target customers, including direct sales, online sales, and third-party sales channels.
• Outline the sales tactics that the company will use to reach its target customers, including advertising, promotions, and pricing strategies.
• Detail the sales team structure, including roles and responsibilities, hiring plans, and training programs.
• Provide a sales forecast that outlines expected revenue and sales growth based on the sales strategy.

5. Sales Forecasting

The sales forecast predicts future sales performance and is a critical component of the sales business plan. This section should provide a detailed analysis of the company's sales projections, including historical sales data, market demand, sales channels, sales team, pricing strategy, and external factors.

By creating a detailed sales forecast, the company can set realistic sales targets, monitor performance, allocate resources effectively, and adjust its sales strategy as needed.

The budget section of the sales business plan outlines the financial resources needed to achieve the sales goals.

This section should cover the following:

• Estimate the costs associated with the sales strategy, including marketing expenses, sales team salaries, and travel costs.
• Identify any capital investments required to support the sales strategy, such as new equipment, technology, or facilities.
• Outline the expected revenue and profits based on the sales forecast and sales strategy.
• Develop a cash flow projection that details the timing and amount of cash inflows and outflows associated with the sales strategy.

By creating a detailed budget, the company can ensure that it has the financial resources needed to execute its sales strategy effectively. The budget can also help the company prioritize its spending, identify potential areas of cost savings, and monitor its financial performance against its sales goals.

7. Implementation Plan

The implementation plan outlines how the company will execute its sales strategy and achieve its sales goals. This section should cover the following:

• Identify the specific actions required to implement the sales strategy, such as developing new sales materials, hiring additional sales staff, or launching a new product.
• Assign responsibility for each action item and establish timelines for completion.
• Establish a system for monitoring progress and evaluating the effectiveness of the sales strategy.
• Develop contingency plans to address any potential obstacles or challenges that may arise.

The implementation plan can also help the company track progress, identify areas for improvement, and make necessary adjustments to the sales strategy as needed.

8. Metrics and KPIs

Metrics and Key Performance Indicators (KPIs) are used to measure the success of the sales strategy and provide insight into the performance of the sales team. This section should cover the following:

• Identify the metrics and KPIs that will be used to evaluate the success of the sales strategy, such as sales revenue, sales growth, customer acquisition cost, or customer lifetime value.
• Establish a system for tracking and analyzing these metrics and KPIs regularly.
• Develop a process for using this data to make informed decisions about the sales strategy and identify opportunities for improvement.
• Assign responsibility for monitoring and analyzing these metrics and KPIs to specific individuals or teams within the company.

With the right metrics and KPIs, the company can track the success of the sales strategy and make data-driven decisions to improve performance.

9. Risks and Challenges

The risks and challenges section of the sales business plan identifies potential obstacles that could impact the success of the sales strategy.

It assesses the likelihood and potential impact of each risk or challenge, develops contingency plans to address them, and assigns responsibility for monitoring and addressing these risks or challenges to specific individuals or teams within the company.

By doing so, the company can develop contingency plans to minimize its impact, adapt to changes in the market, remain competitive, and achieve its sales goals despite potential obstacles.

10. Conclusion

The conclusion section of the sales business plan summarizes the key points and highlights the overall value of the sales strategy. This section should cover the following:

• Recap the key points of the sales business plan, including the company overview, market analysis, sales strategy, sales forecast, budget, implementation plan, metrics and KPIs, and risks and challenges.
• Emphasize the value of the sales strategy, including the potential impact on sales revenue, market share, and customer acquisition.
• Provide a call-to-action that encourages stakeholders to support and implement the sales strategy.
• Thank stakeholders for their time and commitment to the sales business plan.

The conclusion section provides a final opportunity to reinforce the key points of the sales business plan and inspire stakeholders to take action.

How to Write a Winning Sales Business Plan Template: A Step-By-Step Blueprint

Writing a sales business plan template may seem like a lot of work, but once you do, you've already skipped leaps and bounds to take your business to the next level.

Let's break down this process, step-by-step, to help you write a winning sales business plan template -

1. State your Company's Mission

Your company's mission statement should explain what your business does, why it exists, and how it aims to achieve its goals.

Here are some tips for creating a compelling mission statement -

• Keep it short and simple.
• Use strong and clear language.
• Make sure it aligns with your company's overall vision and goals.
• Communicate how your business is unique.
• Focus on the benefits you provide to customers.

Your mission statement should inspire and motivate your team while also communicating your values to potential customers. It sets the foundation for the rest of your sales business plan, so take the time to craft a mission statement that accurately reflects your company's goals and values.

2. Set Objectives and Timeframes

In this section, you should identify specific, measurable goals for your sales team, and establish a timeline for achieving them.

Here are some tips for setting objectives and timeframe -

• Identify both short-term and long-term goals.
• Make sure your goals are specific and measurable, such as "increase sales by 10% in the next quarter."
• Set realistic and achievable goals.
• Assign each goal to a specific team member or department.
• Establish a timeline for achieving each goal.

By setting objectives and a timeframe for achieving them, you can motivate your sales team and provide a clear roadmap for success. Make sure to regularly track your progress toward these goals and adjust your strategy as needed to ensure you're on track to meet them.

3. Identify your Team Structure

The third step in creating a sales business plan is to identify your team structure.

This involves identifying the key players in your sales team, outlining their roles and responsibilities, and providing a brief overview of their experience and qualifications.

Here are some tips for describing your team -

• Identify the key players in your sales team, such as sales representatives, account managers, and sales managers.
• Outline each team member's role and responsibilities in the sales process.
• Provide a brief overview of each team member's experience and qualifications.
• Consider including a chart or diagram that illustrates the structure of your sales team.

By clearly defining your sales team and their roles, you can ensure that everyone is on the same page and working together toward your sales goals. Additionally, highlighting your team's experience and qualifications can help build confidence in your ability to deliver results.

4. Define your Target Market

The fourth step in creating a sales business plan is to define your target market.

This involves identifying the specific group or groups of people that your products or services are intended for and understanding their needs, preferences, and behaviors.

Here are some tips for defining your target market -

• Start by analyzing your existing customer base to identify common characteristics such as age, gender, location, income level, etc.
• Conduct market research to gain a deeper understanding of your target market's needs, preferences, and behaviors.
• Develop buyer personas that represent your ideal customers, including their goals, challenges, and pain points.
• Consider the size and growth potential of your target market, as well as any trends or changes that may affect their behavior.
• Identify any gaps or unmet needs in the market that your products or services could address.

By defining your target market, you can create more targeted and effective sales strategies that are tailored to the needs and preferences of your ideal customers. This can help you build stronger relationships with your target audience, increase customer loyalty, and ultimately drive sales growth.

5. Evaluate Resources

This step involves taking stock of the resources you have at your disposal and assessing how you can leverage them to achieve your objectives. Here are some key aspects to consider:

• Human Resources : Consider the size and skill set of your team. Determine if you have enough people with the right skills to achieve your sales goals, and if not, consider hiring or outsourcing.
• Financial Resources : Assess the financial resources you have available, including cash on hand, lines of credit, and investments. Determine if you have enough funds to achieve your sales objectives or if you need to secure additional financing.
• Technology Resources : Evaluate the technology resources available to your team, including hardware, software, and other tools. Determine if you have the right technology to support your sales efforts and if any upgrades or investments are necessary.
• Intellectual Property : Consider any patents, trademarks, or other intellectual property that can support your sales efforts. Determine if you have any competitive advantages that can be leveraged to increase sales.
• Facilities and Equipment : Evaluate your physical resources, including office space, production facilities, and equipment. Determine if you have enough space and equipment to support your sales efforts, or if any upgrades or investments are necessary.

By evaluating your available resources, you can determine what you have at your disposal to support your sales strategy and identify any areas where you may need to invest or make changes to achieve your objectives.

6. Carry Out Competitive Analysis with Competitors

This involves taking stock of the resources you have available to support your sales efforts, as well as identifying any additional resources you may need to acquire.

Here are some key things to consider when evaluating your resources:

• Sales Team: Evaluate the skills and experience of your sales team to ensure that they are capable of executing your sales strategy effectively.
• Marketing Materials: Assess the quality and effectiveness of your existing marketing materials, including brochures, websites, social media channels, and other promotional materials.
• Customer Data : Analyze your customer data to identify trends and patterns that can inform your sales and marketing strategies.
• Sales Tools and Technologies: Determine whether your team has the right tools and technologies to support their sales efforts. This could include customer relationship management (CRM) software, sales automation tools, or other sales technologies.
• Training and Development: Identify any gaps in your team's skills or knowledge, and develop a plan to address them through training and development initiatives.

By evaluating your resources in this way, you can identify any gaps or weaknesses in your sales process and develop strategies to address them. This will help you ensure that you have the resources you need to achieve your sales objectives and drive growth for your business.

7. Set the Budget

The seventh point is to set a budget for your sales business plan.

This step is essential to ensure that you have the necessary resources to implement your sales strategy effectively. Here are some tips on how to set a budget for your sales plan:

• Determine your Revenue Goals: Your revenue goals will guide you in setting a realistic budget. Consider the size of your market, the competition, and your pricing strategy.
• Calculate your Expenses: You need to estimate your expenses to set a budget. Make a list of all your expenses, including salaries, marketing, technology, and travel expenses.
• Prioritize Expenses: Once you have calculated your expenses, prioritize them. Identify the essential expenses that you must incur to implement your sales strategy.
• Allocate Resources: Allocate resources based on your priorities. Make sure that you have enough funds to cover your critical expenses and have some funds set aside for unexpected expenses.
• Review and Adjust: Regularly review your budget and adjust it as needed. Make sure that you are on track to meet your revenue goals, and adjust your expenses accordingly.

Setting a budget is crucial for the success of your sales business plan. It will help you allocate resources effectively, prioritize expenses, and track your progress toward your revenue goals.

8. Define your Organization's Marketing Strategy

Marketing strategy is an essential component of a sales business plan as it outlines the approach a company will take to promote and sell its products or services to its target customers. The following are some key elements to consider when defining the marketing strategy for your sales business plan:

• Value Proposition: Define the unique value proposition of your product or service, and identify the key benefits and features that set it apart from competitors.
• Target Audience: Determine the specific demographics, needs, and behaviors of your target audience, and how your product or service can address their needs.
• Positioning : Define the position of your product or service in the marketplace, based on factors such as pricing, quality, and features.
• Channels : Identify the channels through which you will reach your target audiences, such as social media, email marketing, or direct mail.
• Budget : Determine how much you will allocate to marketing activities, and how you will measure the return on investment.
• Marketing Tactics : Define the specific tactics you will use to promote your product or service, such as advertising, content marketing, or event sponsorships.
• Metrics : Identify the key performance indicators (KPIs) you will use to measure the success of your marketing efforts, such as website traffic, lead generation, or sales conversion rates.

By clearly defining your marketing strategy in your sales business plan, you can ensure that your efforts are focused, efficient, and aligned with your overall business objectives.

9. Figure Out the Sales Strategy

This step involves developing a detailed plan for selling your product or service to your target market.

Here are some things to consider when developing your sales strategy -

• Sales Channels: Consider the best channels for selling your product or service, such as online marketplaces, social media, direct sales, or distribution partnerships.
• Sales Process: Outline the sales process, including how you will generate leads, how you will qualify leads, how you will make your sales pitch, and how you will close deals.
• Sales Team: Determine who will be responsible for sales, their job descriptions, and how they will be trained and compensated.
• Sales Goals: Establish specific, measurable sales goals and objectives, such as revenue targets, sales volume, or customer acquisition.
• Sales Forecast: Develop a sales forecast based on your target market, pricing strategy, and sales goals. This should include projections for monthly, quarterly, and annual sales.
• Sales Metrics: Determine the key performance indicators (KPIs) you will use to track your sales success, such as conversion rates, customer lifetime value, and customer acquisition cost.

By developing a clear and comprehensive sales strategy, you will be better equipped to execute your sales plan and achieve your business goals.

10. Define an Action Plan

The final step to writing a sales business plan is to define an action plan.

This step involves determining how the objectives will be achieved and what actions need to be taken to implement the sales strategies outlined in the previous steps. Some key elements of this step include:

• Assigning Tasks and Responsibilities: Determine who will be responsible for implementing each aspect of the sales plan and assign tasks accordingly.
• Setting Timelines: Establish specific timelines for each action item to ensure that the sales plan stays on track and progresses toward achieving its objectives.
• Monitoring Progress: Regularly monitor progress towards the objectives and make adjustments to the action plan as necessary.
• Identifying Potential Roadblocks: Anticipate any challenges or roadblocks that may arise during implementation and develop contingency plans to address them.
• Identifying Metrics: Establish metrics and key performance indicators (KPIs) to measure the success of the sales plan and adjust the action plan accordingly.

By defining a clear action plan, a sales business plan can be effectively implemented, and the sales team can work towards achieving the objectives and targets set out in the plan.

Why Do Organizations Need a Sales Plan?

Organizations need a sales business plan for several reasons -

1. Clarity of Goals and Objectives

A sales business plan provides a clear roadmap for an organization to achieve its sales goals and objectives. Defining the steps that need to be taken helps ensure that everyone in the organization is working towards the same goals.

2. Resource allocation

A sales business plan helps organizations allocate resources effectively. By knowing where the company is headed, it can identify the resources required to achieve those goals and allocate them accordingly.

3. Improved decision-making

With a sales business plan, organizations can make informed decisions about their sales strategy. They can assess the viability of different sales channels, sales techniques, and sales campaigns based on the data they have collected.

4. Better risk management

A sales business plan can help organizations identify and manage risks more effectively. By forecasting sales revenue and expenses, companies can develop contingency plans to address potential risks.

5. Improved Communication

A sales business plan provides a clear and concise way to communicate the organization's sales strategy to stakeholders. This ensures that everyone in the organization is on the same page and working towards the same goals.

4 Examples of Sales Business Plan Templates

Here are a few examples of sales business plan templates that you could take inspiration from -

30-60-90 Day Sales Plan

A 30-60-90 day sales plan is a detailed outline of the tasks and goals a salesperson hopes to accomplish within the first 30, 60, and 90 days of starting a new job or taking on a new sales territory. The plan is designed to help the salesperson quickly ramp up their productivity and start making meaningful contributions to the team.

Here is a template for a 30-60-90 day sales plan -

First 30 Days

• Meet with my manager and team members to gain an understanding of the company's products, services, and sales processes.
• Study the company's existing customer base and their needs.
• Begin establishing relationships with key customers.
• Attend sales training sessions to further develop my skills and learn more about the company's offerings.
• Develop a list of potential prospects in my assigned territory.
• Schedule meetings with the manager and team members.
• Analyze the company's existing customer data.
• Make a list of key customers to reach out to.
• Attend scheduled sales training sessions.
• Create a list of potential prospects.

Second 30 Days

• Start making sales calls to prospects and schedule appointments.
• Follow up with previous prospects and leads.
• Conduct thorough research on potential prospects to understand their needs and pain points.
• Develop a clear understanding of the competitive landscape.
• Refine my sales pitch and value proposition.
• Make at least [X] several sales calls per day.
• Schedule appointments with interested prospects.
• Follow up with previous leads.
• Research potential prospects.
• Analyze the competition and develop strategies to differentiate from them.
• Work with my manager to refine my sales pitch and value proposition.

Third 30 Days

• Close deals with interested prospects and achieve sales targets.
• Continue building relationships with key customers.
• Develop a pipeline of potential future sales.
• Develop strategies to retain existing customers.
• Identify areas for improvement and provide feedback to the team.
• Create a customer retention plan.

2. Monthly Sales Plan Template

A monthly sales plan is a document that outlines the sales activities, goals, and strategies for a specific month. It is a crucial part of a company's sales strategy and helps the sales team to stay focused and accountable for their performance.

Here is a template for a monthly sales plan -

I. Overview

• Month: [insert month]
• Sales team: [list the sales team members]

II. Monthly Sales Goals

• Revenue goal: [insert revenue goal for the month]
• Sales target: [insert sales target for the month]
• Key performance indicators (KPIs): [list the KPIs that will be tracked for the month]

III. Sales Strategies

• Marketing activities: [list the marketing activities planned for the month]
• Sales activities: [list the sales activities planned for the month]
• Promotions and discounts: [list the promotions and discounts planned for the month]

IV. Sales Forecast

• Projected revenue: [insert projected revenue for the month]
• Sales pipeline: [list the sales opportunities in the pipeline for the month]
• Sales conversion rate: [insert the sales conversion rate for the month]

V. Resources

• Sales tools and technology: [list the sales tools and technology that will be used during the month]
• Sales team training: [list the training sessions planned for the month]

VI. Risks and Challenges

• Potential obstacles: [list the potential obstacles that may hinder sales performance]
• Mitigation strategies: [list the strategies to mitigate the potential risks and challenges]

VII. Action Plan

• Weekly sales goals: [list the weekly sales goals for the month]
• Assigned tasks and responsibilities: [list the tasks and responsibilities assigned to each sales team member]
• Deadlines: [list the deadlines for each task]

VIII. Conclusion

• Recap of monthly goals and strategies
• Next steps and follow-up actions.

3. Territory Sales Plan Template

A territory sales plan is a comprehensive strategy designed to outline the sales objectives, goals, and tactics that will be implemented in a specific geographic area or "territory."

This plan should provide a clear roadmap for how a sales team will approach and engage with potential customers in their assigned area, and outline the resources needed to achieve the desired outcomes.

A template for a territory sales plan might include the following sections -

• Executive Summary: This section provides a brief overview of the territory sales plan, including the purpose, objectives, and key strategies.
• Territory Analysis : This section should provide a detailed analysis of the assigned territory, including information about the market, competition, target customers, and other relevant data.
• Sales Goals: This section should outline the sales goals and objectives for the territory, including revenue targets, customer acquisition goals, and other key performance indicators.
• Sales Strategies: This section should provide a detailed overview of the strategies and tactics that will be used to achieve the sales goals outlined in the previous section. This may include details about lead generation, customer engagement, sales presentations, and other sales-related activities.
• Resource Allocation: This section should outline the resources required to implement the sales strategies outlined in the previous section. This may include budgetary requirements, staffing needs, and other resources necessary to support the sales team.
• Implementation Plan: This section should provide a detailed timeline and action plan for implementing the sales strategies and achieving the sales goals outlined in the previous sections.
• Performance Metrics: This section should outline the key performance metrics that will be used to measure the success of the territory sales plan, including sales revenue, customer acquisition rates, and other relevant data.
• Conclusion : This section should summarize the key points of the territory sales plan and highlight the expected outcomes and benefits of implementing the plan.

By using a template such as the one outlined above, sales teams can create a plan that is tailored to their unique needs and objectives, and that can be easily communicated to stakeholders and team members.

Wrapping Up,

Effective planning is crucial for the success of any business, and this is especially true when it comes to achieving sales targets. Before promoting your product or service, it's essential to establish clear goals and determine the strategies that will help you achieve them.

With a well-defined plan in place, you'll have the clarity and direction necessary to make informed decisions and stay on track toward achieving your objectives.

Don't leave the success of your sales plan to chance - schedule a demo with one of Salesken's experts today and discover how our innovative solutions can help you achieve your sales targets.

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Structure of a Sales Plan: What Your Need to Include

Building a sales plan is key to success. In this section, learn how to create a structured sales plan template, set goals, identify target customers and analyze competition.

A Step-By-Step Blueprint to Write a Winning Sales Business Plan

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Online Retail Business Plan Sample

MAR.03, 2015

U.S. statistics for e-commerce indicate that annual internet sales are steadily increasing. In fact, U.S. sales doubled between 2006 and 2013 and were an estimated $210 billion in 2013 for business-to-consumer (B2C) and business-to-business (B2B). Globally, the best estimates report B2C e-commerce sales of approximately $638 billion, and that excludes travel sales. It is not surprising that millions of entrepreneurs are preparing their online retail business plan so they can capture the great opportunities.

Approximately a third of all internet sales are for travel and flight bookings which means internet-based store for goods and services account for two-thirds of the revenue generated. How can an entrepreneur take advantage of the opportunities? It is to get on the internet and start a web based shopping enterprise.

However, it is not so easy to generate sales and grow a startup because shoppers must find the website among the billions already operating. The owner must know how to get attention through marketing and search engines. The startup needs an online retail business plan that lays out the operating model and the critical success components like marketing, operations, and financials.

Business plan for retail

You should think the following before writing the plan:

• Who will be your potential customer for online retail business? You must think about your potential customers. For, example if you are dealing with clothes, you must think it would attract young, middle age or elderly people, gender, etc.
• Who could afford your product? You must think who can buy your goods. e.g if you are dealing with high class branded clothing then your target population must be people with high social, economic class.
• Who live near the retail business location. You must think where your shop is exactly located. e.g. if you are thinking branded clothes but people living close to your shop is people with meager financial resources.

Pre-requisites of online retail business plan

• Before writing a retail plan, you should do research. There are many online websites that provide information related to online retail business. It is always good to take information about what is good and what is what isn’t for this online retail business plan. You must consult before opening a online retail business plan.
• You should know from where you should buy the good to sells. Your online retail business planning should include the list of the manufacturer from you would like to buy your goods or the company that may directly ships items to you. You should review the term and conditions, payment strategies prices, etc. before selecting any one.
• Knowing your expenses and budget is essential before writing the online retail store business plan. You must calculate initial expected expenses. You must understand how to invest the money before writing a retail business plan of the retail. Some experienced people suggest not to spend all you amount in business. You must also consultancy or knowledge related to bank loans. It is also good to have a good security system if you are retailing online with expensive items like jewelry.
• Think of eco-friendly branding strategies and write in your online retail business plans for retail stores. Many stores are using green color or plastic free bags etc. for the promotion of their business.

Thus, an effective business plan for retail is important to start a successful business. You can also review sample online retail business plans for retail to have the general idea about what retail business strategy includes. An effective plan includes a good executive summary, market strategy, and financial strategy and SWOT analysis.

Setting sites on Success

A professional online retail business plan used for many purposes. They include setting the path for successful operations, finding interested investors, setting short and long-term goals, documenting market research and more. It plays such an important role in the entrepreneur’s success that it should be considered a “living” document that keeps decision-making on track.

Every section needs to be thorough, accurate, and based on in-depth research, covering information like the following:

• What are the products and/or services that will be sold on the internet? They can be quite diverse, ranging from computer equipment to books and music to clothing and shoes. The source of products sold retail can vary too. Are the items produced by the entrepreneur or sourced from distributors? Are they domestic or global suppliers? How will the online retail business ensure it can supply customer orders? Will an inventory be carried in a warehouse or will items be drop shipped directly from supplier to customer?
• Describe the required retail facilities for online and local store which can be as simple as a home office or as complex as leased office space and a warehouse for storing inventory. The type of facilities or space needed largely depends on how goods will be delivered to customers.
• Describe the merchant business model and how sales are generated, i.e. direct internet-based selling, catalog sales through a web store, click and mortar (web store added to existing brick-and-mortar business), internet auctions, and/or bit vendor. A bit vendor sells and distributes only digital products and services on the internet. What retail sales program software was selected, and how will it be maintained? There are many possible options today. The entrepreneur can set up a retail store on eBay or Amazon. There are also numerous SaaS options. Yet another possibility is hiring technical people to write a unique sales program.
• Will the online retail company sell cross border? If so, what cross border payment systems are utilized? What are the licensing requirements? It is important to hire professionals to manage the accounting and legal aspects because of the complexity of cross border selling.
• What is the estimated average ROI for the online Internet retail store? If the entrepreneur does not know how to figure ROI, it is wise to take advantage of professional consulting services. The financial calculations and financial statements projecting revenues and costs are important to the entrepreneur and potential investors.
• Who is the defined target customer? Is it a B2C, B2B enterprise, or will both consumers and businesses become customers? What does the market analysis indicate about the industry and needs of the target market?
• What marketing strategies are employed to reach to the target market? In-depth research is needed to identify the customer demographics of the target market and how to best appeal to customer interests and needs. Once again, many people do not know how to do market research and need to hire a consulting company to get the right kind of help.

How to write a Sample online retail business plan?

The retail work mainly includes general merchandise etc. The retailers buy products directly from their producers and sell those products to the common people. These products in the online retail business can be long lasting and non-durable items. Durable retail items mainly include electronic items and other whereas non-durable retail involve food, drinks, shoes, cosmetics and clothing.

Further, the online retail business plan is a rewarding business if done properly. Properly drafted retailing business plans would help you to achieve success in the business. You can open many retail outlets in major cities. You should write the separate business plan if you are dealing with specific retail business like garment retail business plan.

Sample business plan for a retail shop

Below is the sample online retail business plan to assist you:

• Write down the executive summary of your retail shop. Your online retail business plan should include a location of your shop. Consider opening shops in the central market of your locality. Further, write whether you should deal with the durable items or non-durable items. You should write the names of manufacturers you will deal. Decide whether you will start an online or local store. You can also get profit through online shop and it requires to write a business plan online retail. The online sample business plan would also guide you to write a plan.
• Write down the mission statements along with vision of your retail business. You should be clear about your mission and vision for your online business. Your vision could be opening retail shops in your city and mission could be providing branded items to the people at reasonable prices. Review online sample online retail business plan of other websites.
• Write down the employee structure in your plan. A proper retail business structure and a good employee is key to your success. You can hire the CEO, merchandize manager, accountants, information technologist and sweepers or cleaners. The CEO of the retail shop would be responsible providing guidelines for the business, implements organizational strategy, signing the deals, recruitment of the staff and evaluates the company achievements and targets. The manager of the retail shop would be in charge for the daily management of the activities and ensure that items are properly arranged or do any duty assigned by the hiring authority. The merchandise manager of the retail shop would be response for vendor relations, buying of products on behalf of the firm and ensuring that organization works with in the assigned budget. Sales manager deals with the data to organize business information and attract the new customers and evaluates transactional data. The accountant of the retail would be responsible for receiving the payments, issuing of the receipts, financial transaction, other duties assigned to him/her. Hire well qualified and experienced employees for your retail business. You can also hire other professionals for your online retail business plan. Check other online sites as a sample for the understanding of the type of professional required.
• Write down strengths, weakness, opportunities and potential threats to your online retail business. Your strengths might be operating both local and online, the number of products and customers. Your weakness could be the competition with the larger stores due to limited financial resources. Your business opportunities could be expanding your shops to other. Cities of the province and country. Your potential threat could be economic depreciation and an opening of any new shop. A good SWOT analysis in the business plan retail shop would guide to how to work effectively. Similarly, SWOT analysis should be written for online business.
• Write down the market analysis in the retail plan for the online business. Write down the potential target customers like a household, corporate executives newly wed couples, expected mothers and students. Your competitive advantage would be the online shop, the range of items, and availability of different payment methods. Online sample plans would also assist you to write in-depth market strategy.
• Write down the marketing strategy of your retail shop to increase the sales in your online retail business plan. You should write sales forecast of at least three years. You can market your shop through advertisements in local newspapers, radio stations, introductory letters, yellow pages ads and direct marketing. Online available sample plans for online business also define many online marketing strategies.
• Write down the financial strategy of your online retail store in online retail business plan. You must include the initial prospective expenses like legal expenses, rents, the expense of consultants, insurance, promotional expense, the expenditure for equipment purchasing, installation of the security system, operational costs and other miscellaneous expenses. A good pricing strategy is important for retail business because customer visits retail centers to buy cheaper items. Select that prices that would be helpful for the customer satisfaction as well as for the benefits of your business. You should mention same prices for online business and write about delivery charges etc.
• You must formulate a business expansion strategy of an online retail business. The success of your retail business depends on your competency, worker’s efficacy and lastly your business strategies. Online retailing has a wide scope of expanding. Review other online business plan as a sample and create your customized expansion strategy of the online business.

Thus, you must elaborate complete description of your online retail business plan. You must take guidelines from the retail business plan UK . The above-given sample key points would also help you to customize your online retail business plan.

Appealing to the Investor

Even a  small internet retail business  needs capital to cover startup and operating expenses the first year. It is important to know how to identify outside funding needs and to include a perspective in the online retail business plan that appeals to the type of investor most likely to be interested in the businesses. Fact-based financial statements are instrumental to long-term success and for landing investors. Investors are savvy and easily recognize inflated numbers or financial information that is not based on high quality research.

Professional Help

Since 2006,  OGS Capital consulting professionals have successfully help SMEs with the development of quality online retail business plans and with raising capital. Each document is customized and retail business plan templates are used. When ready to startup or grow a online retail business and in need of a customized business document, simply send your information on a completed contact form.

Download Online Retail Business Plan Sample in pdf

OGS capital writers specialize in business plan themes such as business plans for pharmacy , underwear business plan , online store business plan example , dating website business plan , IT security business plan , video game developer business plan , virtual assistant business plan template and many other business plans.

OGSCapital’s team has assisted thousands of entrepreneurs with top-rate business plan development, consultancy and analysis. They’ve helped thousands of SME owners secure more than $1.5 billion in funding, and they can do the same for you.

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Why is Plannit AI the best choice for an AI business planning software?

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• Extensive Educational Resources: Our Education Center is packed with articles, guides, and sample plans to bolster your planning process. It's designed to arm you with the knowledge to navigate the complexities of your industry confidently.
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• Customer Success Stories: Our users' achievements are a testament to Plannit AI's effectiveness. These success stories illustrate how diverse businesses have utilized our platform for strategic planning and growth.
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How can ChatGPT help me to create business plans?

• Content Generation:: ChatGPT helps draft various sections of a business plan, from executive summaries to marketing strategies, by providing structured and coherent text based on the prompts given.
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UK's ASOS posts 18% drop in first-half sales

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A second Kobayashi Pharma Japan factory inspected over deaths

Health authorities searched a second Kobayashi Pharmaceutical factory in western Japan on Sunday after the company reported five deaths possibly tied to dietary supplements, an official said.

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What the National Association of Realtors' settlement means for consumers and real estate brokers

A groundbreaking $418 million settlement announced Friday by the powerful National Association of Realtors is set to usher in the most sweeping reforms the American real estate market has seen in a century. It could dramatically drive down homebuyers’ costs — and push some real estate brokers out of business.

Here’s a look at how we got here and what to expect in the months ahead.

NAR already lost a big case

For decades, the NAR has required home sale listing brokers to provide an offer of compensation to a buyer’s agent up front. That usually comes out to about 6%, split between a seller’s broker and a buyer’s agent.

But that model has come under intensifying scrutiny from critics who have likened it to a cartel . Late last year, a jury in a Kansas City federal court found the longstanding practice to be a form of collusion that artificially inflated real estate fees, awarding a massive $1. 7 8 billion judgment against NAR .

What changes now for homebuyers and sellers

If the settlement announced Friday is approved by a federal court, the standard 6% commission goes away. Sellers would no longer have to make a compensation proposal to prospective buyers and their agents. Critics have said the encouraged brokers to push their clients toward more expensive properties.

Another new rule would see homebuyers having to sign an explicit deal with a broker before they start working with one — something experts say would lead many homebuyers to forgo using brokers entirely.

The new rules would kick in within months of approval, currently expected around mid-July.

What about the next few months?

Everyone involved in the market should expect “a certain amount of uncertainty for the coming months,” said Marty Green, principal at mortgage law firm Polunsky Beitel Green.

“The industry will be in transition as everyone digests the settlements and market forces begin working,” he predicted. “We will begin to see some creative buyer’s agent arrangements that may have been harder to get traction on before.”

Home buyers and their agents will need to decide on a commission and put it in writing. Sellers, likewise, will need to work carefully with their listing agents as the new rules come into effect.

U.S. consumers might save in the long run ...

The changes could mean buyers will save on commissions, eventually bringing U.S. fees more in line with the much lower transaction costs seen in other residential property markets around the world.

Some commissions could even be cut in half, Jaret Seiberg, housing policy analyst for TD Cowen Washington Research Group, told clients in a note Friday.

The new rules “should lead to commissions falling 25% to 50%, which we view as benefiting online real estate brokers,” Seiberg wrote, but he warned it’s too early to declare “the end of local real estate agents given their local expertise and reputation in neighborhoods. It is why we do not see this following the travel agency model in which online eclipsed local offices.”

... but buyers could face more confusion

Holden Lewis, a home and mortgage expert at NerdWallet, warned of a “potential negative trade-off”: “Buyer-seller negotiations will become more complex, and buyers with plenty of cash might navigate the process more easily than buyers who don’t have a lot of savings,” he said. Seiberg flagged a similar concern in his note, saying it could particularly affect first-time buyers with limited means to pay for an agent.

Brokers and agents have come out against the settlement, saying it will make the home-buying process more byzantine for consumers and discounts the important role agents play in helping them navigate it.

“I’m a full-service real estate agent, so when I go to list my client’s house, I align their goals with my goal, and that goal is selling for the highest amount possible,” said Roy Remick, a realtor based in Northern Virginia, who said he often pays thousands of dollars of his own for services like staging homes to aid the sale process.

“This is ultimately someone saying, ‘You guys make too much money,’ which I don’t think is right for someone to dictate,” he said.

Buyers’ agents will be left “flying blind” since they won’t know how much they’ll end up making from a given home, Remick warned. “We’ll have to make a bunch of phone calls, because now we don’t know what [the commission] is because we can’t see it in the MLS. But we’ve already got an agreement with buyer how much they’ll be able to compensate us.”

Christine Romans is the senior business correspondent at NBC News.

Rob Wile is a breaking business news reporter for NBC News Digital.

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