Every business regardless of size, shape or niche needs a business plan.
You put in a lot of work and hard yards to starting your business – Setting up a website, researching, creating some awesome content, building your products, and posting in social media.
But if you do not have a plan written down of where you want your business to go, and to turn your business from a hobby into a profitable machine that enables you to give up your 9-5 job – then it ain’t going to happen.
A business plan is a document that is the blueprint to your business’ success.
It outlines your achievable goals, timeframes and actions that you are going to undertake to reach them. It may also contain relevant background info for your business.
There are many benefits to writing a business plan for your business. These include:-
Your business plan should contain the following information:-
Details of your business – govt requirements, contact details, social media platforms, summary of your business – what do you do, business goals and objectives.
How is your business set up? Who are the people who work in your business?
Who are they? What do they do? How do they make money?
What are the strengths, weaknesses, opportunities and threats to your business?
How will you find your customers? How will you advertise? What does your customer’s experience look like?
How will you make money? What are your start up expenses? What are your ongoing expenses? How will you make it all happen?
This may feel like a lot of things to write down, this is why I have pulled together a free business plan template to help you work through each of the key areas.
If you have already started your business and haven’t got a business plan, you need to prioritise to get one written.
If you are still formulating your business idea – why not check out our free eCourse Business Idea Booster.