Creating a business plan is near enough essential to get finance for any business but I also think its highly useful for any business you want to start or set up. A business plan will help you segment your target market, it will help you keep on top of your businesses finances and it will help you keep your business on track, as you can always refer to your business plan at any time, adapt it and shape it to fit your needs, desires and aims.
Now that you have found out just how important business plans are its time to get creating one. BUT. Before you rush out and do that read on and see some top tips and handy hints for creating a successful business plan.
TOP TIPS AND HANDY HINTS FOR A BUSINESS PLAN
1. Jot down all of your ideas, what you want to do, when and why, doing this will help form the rest of the plan.
2. Write down who you are, what you have to offer, what you can bring to the business, what your plans for the business are, use this as a basis/structure for your business plan
3. Do some market research, evaluates and then use your results within your business plan. Even if you are not actively seeking finance, undertaking market research can help you determine what to sell, provide and offer to who and at what prices.
4. Remember to include your businesses financial information within your business plan even if you are not seeking finance you can still use the information in such things as your financial forecasts, cash flow forecasts, profit and loss forecasts and so on.
5. Remember that your business plan is not set in stone. It can be altered as and when required, use your business plan as more of a guide than anything
6. Remember not to make your business plan over 15 pages long, it doesn’t have to be a lengthy in depth plan, it just has to provide what the business is about, how it will make money and when it will make money.
2 KEY THINGS YOUR BUSINESS PLAN SHOULD INCLUDE
Every business plan should include at least the following 2 things, maybe more dependant of course on what type of business you want to set up and if finance is required:
1. An introduction on you, your idea and your personal/professional background.
2. A Descriptive overview of the business including the idea/s setup costs and location.
And finally remember for each and every business you want to start do your research, find a niche and then fill it. Good luck I wish you every success.