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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

 

What Should Entrepreneurs Outsource to Virtual Staff

People often wonder what business task they should outsource. While most entrepreneurs really do think they can do it all, we know that is not true. Everyone needs help to help grow their business. While you think of your business as one of your children and do not want to let anyone help you to grow it, you know deep down you do need help. The question is what kind of help do you need? You also, need to be able to let go of the task and trust the person(s) you hire to do the job.

Chris Ducker has wrote this article that tells entrepreneurs 101 task that can be outsource to virtual staff.

http://www.chrisducker.com/101-tasks-to-outsource-to-virtual-staff/