Creating a Business Plan for my Business

Writing a business plan takes time, but if you have the skills you can follow a simple outline as the one here below.

We hold workshops that cover writing a business plan. Some of these workshops are funded and you could be eligible, more than likely you will be, get in touch with us to find out more. Alternatively, we provide business support on a 1-2-1 individual basis, most of our clients see us once a month and continue to do so for business advice in all areas. The areas we cover in our workshops or as an individual client are:

1.Overall Summary

Introduction
A brief history of your business (or of the idea that has prompted you to start it).
The purpose of your business: what business you’re in and why you started it.
Note its location and explain if this is important (or competitive advantage).
Describe your products and services.

Current position
What have you achieved so far?
Outline the current position of your business: where is your business in the business lifecycle (introductory phase, growth phase, mature, declining)?
Explain what industry you operate in and where it sits in the business lifecycle (emerging industry, growth industry, mature industry, declining industry).Kick off in business

Competitive advantage
What are the strengths and weaknesses of your competition?
Explain your competitive advantage(s) and the market niche(s) you’ve identified.
What makes you confident your business will continue to grow and endure? Why is your business model effective?

Growth plan
Provide a brief overview here of what will be described in more detail in the rest of the plan.
Describe the current reach of your business and explain how this business plan will change that. Give an overview of your goals and the future you plan for your business.

2.Business overview

Introduction

Current position

Competitive advantage

Growth plan

  • Tactics
  • Strategic issues
  • Core values
  • SWOT and critical success factors
  • Market research
  • Distribution channels
  • Strategic alliances
  • E-commerce and technology
  • Tactical promotion plan
  • Traditional Marketing budget
  • Digital Marketing budget
  • Credibility and risk reduction
  • Skills, experience, training and retention
  • Advisors
  • Management systems
  • Profit and loss forecast
  • Cash flow forecast
  • Balance sheet forecast
  • Capital expenditure budget
  • Break-even analysis/Pessimistic analysis/Optimistic analysis
Always get at least another party to review your plan before using your business plan to gain funds.
Those that don’t need a business plan, generally don’t take the time to do this and realise usually a few years down the road that that is exactly what they should have done in order to make the business grow.
Failing to plan is planning to fail after all!
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