A business plan requires several aspect to analyze, such as market analysis and competitor analysis. However, market analysis is one of the weakness of SMEs when creating a business plan.
It was said by Yulianto Suharto, PharmD, MBA, MSc, a lecturer, and researcher at SBM ITB when he had the opportunity to be a speaker in the business plan competition for SMEs iForteprenuer 4.0 held by PT iforte Solusi Infotek, Wednesday, (06/10/2021). In the event, Yulianto shared tips on creating an effective business plan in the digital era.
He argued that market analysis is very important for making a business plan or business implementation. Market analysis will help SME owners to create products with the right targeted customers.
Furthermore, analyzing competitors should also be a concern for SMEs in creating a business plan. Yulianto believes that we can determine our position in the market by analyzing the competitors. He deeply regrets that many SMEs do not pay much attention to competition in the market. “SMEs are sometimes a bit less concerned about this competition, even though it is very important to see money in the market, something that is real or many people are fighting for,” added Yulianto.
In addition to market and competitor analysis, in his presentation, Yulianto also explained several things that need to be analyzed by SME owners in creating a business plan, including marketing analysis, financial analysis, organizational plans, and risk mitigation. However, before carrying out the analysis, it is also necessary to consider the business’s ideas, vision, and mission to be developed.
A business plan is as simple as pouring what is in our minds that appears suddenly into an effective writing and business plan. He then revealed that the thing that has been a challenge in creating a business plan is how to communicate the idea. “The challenge is how to communicate the idea so that it is well-structured, simple, solid, and interesting,” added Yulianto,
In the webinar, which more than 100 SMEs owners attended, Yulianto helped SMEs realize a simple, solid, and attractive business plan. Not only based on theory, but Yulianto also shared his experience as an SME owner.