PEST stands for Political, Economic, Socio-Cultural and Technological factors.
It’s a great way to examine how the external forces in your market can impact your company.
It takes into consideration your target audience, the important features of your product (decided by storyboards, epics, design sketches, mockups), and the tasks you need to carry out to build the product.
This is the section where you provide all financial information related to your business.
A business plan is a document that describes your business in terms of what it does, the products and services it offers, your business strategy and business goals, and your action plan outlining how you plan to achieve your goals and earn money.
The main purposes of a business plan are to Show the future financial performance of the company and its economic situation for the owners and investors Help identify risks that may affect the growth of the company and provide strategies to overcome them Help make predictions about market trends, competitor behavior, customer requirements and define and prioritize key business objectives Serve as a key resource for developing budgets Although this comes first, it’s smarter to write it at the end.This way you can view any links included in the mind map and navigate through it easily.Competitor Intelligence Mind Map Template You can learn how to use these tools along with other useful techniques in more detail in; View More Market Strategy Planning Tools View More Competitor Analysis Tools This is where you outline how you plan to market and sell your product.Your market analysis should also include a competitor analysis, where you will research your key competitors in terms of their influence in the market, their strengths and weaknesses, the threats they pose to you, their products and services, their pricing plans, their marketing strategies etc.Some visual techniques you can use in this section to present your data are These aptly summarize all your findings on your customers such as their demographic details, jobs, responsibilities, needs, challenges etc.By no means is this business plan template limited to presentations; you can also include these diagrams in your business plan documents to make them more readable.Following are downloadable Simple Business Plan Templates Business Plan Template PDF Business Plan Template Word Business Plan Template Power Point Let’s start by clarifying the business plan definition.Here are some visualizations you can use to make this section more interesting to your audience.Product canvas is a tool used to map, design and describe your product strategy.SWOT analysis is a great way to determine the strengths and weaknesses of your competitors and the opportunities and threats they bring to you within the industry.You can also use it to assess the capabilities of your own company.