Business plan problem statement

Audience[ edit ] Business plans may be internally or externally focused. Externally focused plans target goals that are important to external stakeholders, particularly financial stakeholders. They typically have detailed information about the organization or team attempting to reach the goals.

Business plan problem statement

How to Create the Best Problem Statement for Your Startup

Continuing changes in the dynamics of downtown Northbrook have resulted in a large growth within recent years in the number of people of all ages who enjoy shopping here. Primarily though, there is a high percentage of young people who come to Northbrook that like to purchase music, movies, clothes, coffee, antiques, and gifts.

There is currently no store in Northbrook that adequately caters to this group's needs for a record store with a fairly priced, wide selection of imported and independent music. I propose to open Hidden Treasure Records to fill this gap. My goal is simple: My qualifications include over four years experience as a music buyer and assistant manager at both Replay Records previously in Northbrook and Wagonhouse Records in Bloomington, Illinois.

During my tenure at Wagonhouse Records, as the buyer for alternative import and independent music, I more than doubled sales from this department in less than two years.

I achieved this by getting to know the market very well, catering to my customers' needs and pricing accordingly. The funds I wish to borrow will be allocated to procure my initial inventory as well as equipment, fixtures, lease arrangements, advertising, and working capital as indicated in this proposal.

I hope to open my store by May 1, I am committed both to serving the alternative music buying customers of Northbrook and beyond, and meeting my personal financial and career goals.

I am one of these people. Many people have a hard time finding the things they want at existing chain and mall record stores. One major reason for this is that many record stores do not take the time to teach their employees to research the specialized nature of the market. These customers are also looking for convenience of location and fair market prices.

Also, these people enjoy talking to someone who is knowledgeable, interested in the same types of music they want, and in what the store carries in general. In many cases, people will come from many miles away because there are few stores offering the same specific goods.

The store will buy music and accessories from a variety of distributors that provide good quality and dependable service along with fair return policies. Hidden Treasure Records will resell them "as is" to our target market.

Hidden Treasure Records will specialize in new records and compact discs that are current, and some that are hard to find at existing music stores. The store will only carry a limited amount of used records and compact discs. We will carry accessories like stickers and blank audio cassettes.

Hidden Treasure Records will advertise occasionally in the regional weekly and monthly publications. These newspapers will be widely distributed, and cover an expansive and diverse reading audience.Everything you wanted to know about writing a business plan, in one place—from the executive summary to appendix.

Get started writing your business plan. Jul 09,  · How to Write a Problem Statement. In this Article: Article Summary Sample Problem Statements Writing Your Own Problem Statement Polishing Your Problem Statement Community Q&A A problem statement is a short, succinct explanation of a problem a business is facing and a proposed solution to the problem.

This business marketing plan was prepared to help Marcus Accounting, LLC, obtain a $8, Small Business Loan for company start-up related costs. The specific problem is: A business plan is a formal statement of business goals, reasons they are attainable, and plans for reaching them.

It may also contain background information about the organization or team attempting to reach those goals. and attractive to someone who is unfamiliar with the business. Writing a good business plan. Instead of creating a business plan worthy of a Harvard Business School case study, we go out into the market space that we know and find a problem.

GA Blog. How to Write the Best Problem Statement for Your Startup. By Kevin Sandlin. Use and Reprint Rights for Your FAST Business Plan Template. Business Objectives, Mission Statement, Guiding Principles and Keys to Success that we'll cover individually below.

competitor is a business that provides a not-so-obvious solution to your target market that would still solve their problem or fulfill their need.

business plan problem statement

For example.

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