Each month we will be adding resources to helping you along your entrepreneurial journey.
Where else to start that a good foundation... Your Business Plan.
What is a business plan?
Its is a written document that describes your business. It sets out the objectives, strategies, sales, marketing and financial forecasts of your idea and how you plan to make it into a viable business.
It is a great way to:
- clarify your business idea and share the vision with others including potential investors
- spot potential problems and work out how to overcome them
- set out your goals and outline your business growth over the next 5 to 10 years
- measure your progress from year to year
Personally I would recommend writing your plan yourself, whilst there are a number of resource that you can outsource this to, no one knows your business idea better than you and it will be you that will need to explain it to a investor!
Key areas of your business plan.
Business Idea - your business description and your personal profile of experience and motivation
Market Research - including all your research! Desk, field, competitors and industry
Marketing Mix - USP, product/service, price, marketing and promotional strategy
Finance - once you have all you information you will be able to work out the costing
Seems like a lot, but if you take each section a step at a time you will be able to create a great business plan.
For more information and assistance you can contact: