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You’ve got a business idea. Congratulations! Your awesome idea will allow you to change your life when you get to become your own boss! The idea is there and you’ve been thinking about it for a while now. So, what’s next?
When you want to start your own business, the first thing you need to do is write out a business plan. This will include all the market research you do as well as the structure you’ll be putting in place for your business. The purpose of the plan is to help you map out your business strategy and set goals for the future. You’ll also need the plan if you want to present your idea to any potential lenders or investors.
So, what do you include in the plan?
5 THINGS TO INCLUDE IN YOUR BUSINESS PLAN
A short, concise overview of your business plan. This should entice the reader and get them excited about your business. Include your business name, the products/services offered, your mission & vision statement, and the purpose of the plan (i.e. to secure funding or map out your goals).
Explain who you are, how your business operates, and what your goals are. Include your legal structure - if you’re a sole proprietor, LLC, etc. Share a brief statement discussing the needs & demands you plan to meet. Give an overview of your products/services, customers, & suppliers. Summarize your projected growth and your long & short term goals.
Show your industry knowledge by discussing target customers, demographic, and include an evaluation of your competitors.
Identify your business structure. List out your owner(s), management team, sales team, etc. If you’re the only employee, list that and state what your duties will be.
Summarize your sales & marketing strategies, hours of operation, details of pricing structure, and an explanation of the day to day operations.
For an in-depth look at the first three steps needed to start a business,
take my FREE MINI-COURSE!
Take just a few hours and write down the information you need to put into your business plan. Print out this BUSINESS PLAN WORKBOOK to make it easier!
Once you have a clear plan in place, you’ll be able to take the next steps towards opening your own business!
Good luck and remember, I’ve got your back!
You can do this!
P.S. Don’t forget to click here to download your workbook!
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