Small Business Planning: The Business Plan
As a professional writer for businesses both large and small, I am often asked about business plans and whether or not these are a viable consideration. My answer to anyone who is thinking about starting their own business, or is finding that their existing business is struggling, is to sit down and write out a business plan. In fact, anyone who is seeking financial backing, or has little or no idea about how to progressively build their business should seek out a business plan writer and have a plan written for them.
In all honesty, a well-written business plan is not only worth its weight in gold, but it will also save you a great deal of time, effort and money in the future, especially if it is professionally written and researched.
Business plans should contain everything from the cost of running your business through to the income you are going to generate, and your plan should incorporate how you are going to achieve your targets.
Your business plan should include the following aspects:
ü An Executive Summary – this is a summation of your entire plan and gives you, and your reader, an overview of what you are hoping to achieve, and your future milestones;
ü Company Description – an in-depth overview of your business which should include a mission statement, your company goals and objectives, and your business philosophy, as well as the industry you are in, your company strengths , and the proposed legal form of ownership that your business will have;
ü Products and/ or Services – this section should provide detailed and accurate information about how your business proposes to make a profit, and should include elements such as, your competitive edge, your disadvantages and your pricing ;
ü Marketing Plan – a businesses marketing plan is vital to continued business growth as it allows you set budgets and to pinpoint who your consumers are, as well as your competition. This section should include the following aspects, market research, economics, your customers and competition, and define your advertising, as well as your promotional budget, proposed location and offer a hypothetical sales forecast;
ü Operational Plan – all location aspects should be defined in this section of a business plan, so that you can define exactly what you will need to effectively run your business. This section should include the following aspects, your territory and premises, the equipment and training you and your staff will need to operate your business, and your suppliers;
ü Management and Organisation – In this section of your business plan you will outline the experience and skills that each member of your staff has to offer, and you will need to list the professional and advisory support that you will use in the future.
Many people who start a small business have excellent ideas, and they have enough capital to invest in the establishment of their business, but unfortunately they do not think their ideas through, and on many occasions they tend to over capitalise, especially when it comes to shop fit-outs.
Tip: Remember that you are in business to make money, so you need to budget and watch your spending, so that you can generate a profit. Think small, and continually work toward getting bigger and better, rather than starting out big.
Your business plan will effectively be your guide to prosperity, and you should follow this until you become established in business. And, if you’re already in business and finding the going is a little tough then don’t be afraid to sit down and spend some time working on a business plan to get your ideas back in sync.
Fact: Do you know that some 90% of businesses are classified as small, with less than 20 employees, and that these businesses are said to employ approximately 50% of the labour force. In Australia, some 1.7 million people operate a small business.
When you write your business plan make sure that you:
ü Note all of your risks;
ü Conduct a market research analysis;
ü Know who your competitors are;
ü Know what your weaknesses are;
ü Are customer-centric;
ü Find your niche;
ü Claim a portion of the untapped market; and
ü Don’t include your resume.
There is a plethora of information online regarding business plans, and as always you can buy programs that help you write your own plan. However, these programs do not conduct the market research for you, nor do they offer you a customised plan that suits your specific needs. This is where a professional business plan writer can help you, and perfect an in-depth plan that is effective.
If you need business plan inspiration and assistance, please contact Angels Edge Professional Copywriting who will assist you to draft a plan outline, conduct all the necessary research, and work with you to finalise your business plan.
In all honesty, a well-written business plan is not only worth its weight in gold, but it will also save you a great deal of time, effort and money in the future, especially if it is professionally written and researched.
Business plans should contain everything from the cost of running your business through to the income you are going to generate, and your plan should incorporate how you are going to achieve your targets.
Your business plan should include the following aspects:
ü An Executive Summary – this is a summation of your entire plan and gives you, and your reader, an overview of what you are hoping to achieve, and your future milestones;
ü Company Description – an in-depth overview of your business which should include a mission statement, your company goals and objectives, and your business philosophy, as well as the industry you are in, your company strengths , and the proposed legal form of ownership that your business will have;
ü Products and/ or Services – this section should provide detailed and accurate information about how your business proposes to make a profit, and should include elements such as, your competitive edge, your disadvantages and your pricing ;
ü Marketing Plan – a businesses marketing plan is vital to continued business growth as it allows you set budgets and to pinpoint who your consumers are, as well as your competition. This section should include the following aspects, market research, economics, your customers and competition, and define your advertising, as well as your promotional budget, proposed location and offer a hypothetical sales forecast;
ü Operational Plan – all location aspects should be defined in this section of a business plan, so that you can define exactly what you will need to effectively run your business. This section should include the following aspects, your territory and premises, the equipment and training you and your staff will need to operate your business, and your suppliers;
ü Management and Organisation – In this section of your business plan you will outline the experience and skills that each member of your staff has to offer, and you will need to list the professional and advisory support that you will use in the future.
Many people who start a small business have excellent ideas, and they have enough capital to invest in the establishment of their business, but unfortunately they do not think their ideas through, and on many occasions they tend to over capitalise, especially when it comes to shop fit-outs.
Tip: Remember that you are in business to make money, so you need to budget and watch your spending, so that you can generate a profit. Think small, and continually work toward getting bigger and better, rather than starting out big.
Your business plan will effectively be your guide to prosperity, and you should follow this until you become established in business. And, if you’re already in business and finding the going is a little tough then don’t be afraid to sit down and spend some time working on a business plan to get your ideas back in sync.
Fact: Do you know that some 90% of businesses are classified as small, with less than 20 employees, and that these businesses are said to employ approximately 50% of the labour force. In Australia, some 1.7 million people operate a small business.
When you write your business plan make sure that you:
ü Note all of your risks;
ü Conduct a market research analysis;
ü Know who your competitors are;
ü Know what your weaknesses are;
ü Are customer-centric;
ü Find your niche;
ü Claim a portion of the untapped market; and
ü Don’t include your resume.
There is a plethora of information online regarding business plans, and as always you can buy programs that help you write your own plan. However, these programs do not conduct the market research for you, nor do they offer you a customised plan that suits your specific needs. This is where a professional business plan writer can help you, and perfect an in-depth plan that is effective.
If you need business plan inspiration and assistance, please contact Angels Edge Professional Copywriting who will assist you to draft a plan outline, conduct all the necessary research, and work with you to finalise your business plan.
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