The Business Plan- Do I Need One

I know what your thinking- do I need this? Yes, you do need one! It is a blue print for your business. Think of it this way, you wouldn’t build a house without a plan so you shouldn’t run a business without one.

The business plan helps you run your business more cohesively. It’s a road map to analyzing you marketing, sales, manufacturing, web design, etc. This plan will help ensure success.

Your plan is used for outlining your business structure. The most simple plan has five parts while the most difficult could have as many as twenty parts. There are several different types of business plans. Depending on your business and what your needs are.

This a very basic* one:

Introduction-

  1. name of company
  2. what it do
  3. structure
  4. who owns it
  5. why me

Sales & Marketing-

  1. sales forecast
  2. identify your customers
  3. identify your competition
  4. business card (example)
  5. sign (example)
  6. brochure (example)
  7. website (address)

Financial**-

  1. profit & loss forecast
  2. cash flow chart
  3. balance sheet

Operations-

  1. List all jobs to be done
  2. List who will do each job

Closing Statement-

  1. you have surveyed the market
  2. you have identified your customer
  3. you know your competition
  4. your financials indicated that
  5. you make money

*courtorsy of Larry Lee from SCORE

** can be found online

You will change your business plan as your company grows.

Below are more types of plans to help you decide what is best for your business

https://www.entrepreneur.com/article/239408

http://smallbusiness.chron.com/6-types-business-plans-2591.html

https://www.sba.gov/blogs/what-business-plan-type-best-me

 

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