Detailing Your Business: An Essential Guide

The Importance of Operational Details in Entrepreneurship

One of the biggest mistakes entrepreneurs make when planning their businesses is failing to properly manage operational details. Many believe that because they know how to perform the main activity of the business, they don't need to worry about other aspects. However, this is precisely where one of the main pitfalls lies.

Many entrepreneurs can produce excellent products but don't pay due attention to the steps required for these products to reach the customer, or for the correct inputs to be acquired at the best prices.

In the service sector, this dilemma is even more evident. Talented individuals who produce high-quality services and products often fail to map the processes involved in the entire production chain. This results in great applications and systems that cannot expand their sales beyond a few clients.

In addition to marketing deficiencies, this can occur due to flawed operational sizing. Even marketing knowledge depends on well-defined and controlled operational processes. Therefore, detailing the operational aspects of the business is extremely important and frequently overlooked by most entrepreneurs.

In traditional business plan models, this stage is known as the Operational Plan. It is one of the most important, as it ensures that the entrepreneur doesn't forget anything in the execution of their business.

Checklist for Operational Detailing

A good checklist is the first tool you need to ensure your project and future business operate efficiently and can grow. Here are some essential points to consider:

1. Products and Services

   • What products and services will you offer?

   • What is your customer persona type?

2. Company Structure

   • Will the company have a physical structure, or will people work from home?

   • Where will your company be located?

   • What will the layout of your space be?

3. Production and Suppliers

   • How will you define what will be produced or created?

   • Who will be your main suppliers?

4. Work Process

   • What will be your company's work process?

   • Who will be the key partners for the business to achieve its objectives?

   • What roles exist in your company?

   • Are there roles that will be performed by external individuals or partners?

   • What aptitudes and/or competencies are necessary to perform the work?

   • What training will be required?

5. Remuneration and Participation

   • How will employees be compensated?

   • Will people participate in the company's results?

6. Value Proposition

   • Quality: Durability, resistance, reliability.

   • Image: Packaging, logo, associated status.

   • Innovation: What's new about your product or service in the market.

   • Information: What information will facilitate your customer's purchase?

   • Guarantee: How will the customer have less risk when buying your product?

   • Convenience: How will you save the customer time and effort?

   • Services: What services will be associated with your product?

7. Financial Aspects

   • Where do you want your price to fit?

   • What will be the payment methods?

   • What will be the payment terms?

   • Will the customer receive a gift or a trial period for the product?

8. Investments and Resources

   • List the necessary investments.

   • Know your sources of financial resources.

   • Make a good sales projection.

   • Forecast costs and expenses.

   • Project results.

   • Project future cash flow.

Use Tools to Facilitate Planning

Considering a tool to assist with planning can be essential. With Vibz, you can develop your business plan in a straightforward way and become much more prepared for your venture.