How to write a business plan that works – There are so many ways to create a business plan! Writing a business plan that works is a whole other thing.
You may be looking to start a business or you may have been in business for some time. Regardless of the situation you should have a business plan that works and that you can refer to and update as required.
MANY people do business with no written plan and are able to be successful and run their small business. This doesn’t mean you shouldn’t have one though!
A business plan can take many forms, shapes and appearances.
It doesn’t have to be a boring 50-page pile of paper, that you fill out and then file in a draw somewhere.
It does however need to be smart and useful for you and your business and it’s operation and successes long term.
Are you very visual – Use a whiteboard to map out your plan or a large sheet of paper to create a mind map of your business!
Do you just want a simple one or two page spreadsheet on what, where, who and when?
You may need to apply for finance – This is where you business plan needs to be structured and include a financial spreadsheet of forecasts too.
If you are creating your own below are some questions to ask.
- What is the big goal to achieve and in what time frame
- The main reason is
- It will make me feel
- I will gain
- Steps I need to do
- I will discipline myself to do these steps
- Who can help me and that I promise to ask
- Every day I need to
- If I get off track I am going to
- As I reach small milestones, my reward is
Remember though if you are creating your own, that’s great, but in addition to your business plan I highly recommend that you create both a business and personal budget, plus you have an understanding of the financial fundamentals of a small business.
Having budgets mean that you understand where you are financially and how much to need to manage financially too. Not too many people do this and this is often where a business comes unstuck, as there is not enough available capital.
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