This could be the most important document that you could ever produce for your company. It could be anywhere from a one page document up to a fifty page document. There are no two business plans the same.
First question: What is your business plan for? Is it to raise money from a bank or venture capital? Each one requires different types of information. Is it the blueprint to build and measure the progress of the business? Is it the WHAT, WHY, HOW and WHEN of your strategic plan? One thing is for sure: It is the big picture of your vision for your business. If it is done correctly, it will keep you passionate and motivated throughout the year.
This topic is much too large to handle in this article. I have received numerous inquiries on this topic. Yes, I am able to assist and coach you through creating your business plan. What I will do here is list some essentials to a Business Plan.
- WHAT ARE YOU BUILDING? What is your vision?
- WHY DOES THIS BUSINESS EXIST? What is your mission?
- WHAT IS YOUR OBJECTIVE? What is your objective in all areas of your business, sales, pretax profits, products and services? What is your objective with customers, employees, costs, etc.?
- HOW WILL THIS BUSINESS BE BUILT? What will make it successful over time? What are your strategies? What are the trends? What are your competitive strengths and weaknesses? What opportunities do you see, etc.?
- SALES & MARKETING – The Description and Positioning of Products/Services. How will your potential clients know you exist? What is your marketing strategy? What advertising do you intend to do? How will you get publicity? How will you sell your products/services? What promotion/incentives will you offer?
- WHAT ARE YOUR FINANCIAL CONSIDERATIONS? What are your P&L projections? What are your cash flow projections – worst and best scenario?
The best to you in doing this project is that it will serve you and your company for a long time. The time you spend will be well worth it.