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Highlight your target demographic as well as why your business will have the advantage when it comes
to winning over this audience. Pinpoint whatever makes your idea unique and worthy of attention. This
will be your value proposition. At the very least, your business concept paper should cover the
following aspects:
• A brief description of your products and services
• A brief overview of your target audience and its needs
• Your value proposition (what makes your idea unique?)
• Any market problems you're addressing and the expected results
Key activities that will generate revenue
How you plan to reach out to customers
strategy and implementation
Your competitive advantages
Backgrounds of key team members
* A financial plan and budget estimate
Let's say you're planning to start a company that manufactures and sells dietary supplements. Your
business concept paper should emphasize what gives your products a competitive edge as well as a
brief description of your ideal customer and the strategies you'll implement to market your goods and
reach the target audience.
For example, you could sell dietary supplements to seniors struggling with arthritis pain. Decide
whether you're going to promote your products online or use more traditional marketing channels like
radio and TV advertising. Estimate your expenses and potential revenue. Outline your unique selling
proposition, such as the fact that your supplements are made with organic ingredients in FDA-approved
facilities. Write everything down.
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