Map your success with a business plan

Getting Started:

Just because you may be a small business doesn't mean that you should not have a business plan. While your goal may not be to be listed on the stock exchange, it does make sense to map out what level of success you want from your business, and the actions needed to get you there.

Your business after all is going to be around for some time, Yes?

This is why it is so important to have a business plan, to continually check that you are on track and to monitor your financial progress and improve your competitive position in the marketplace.

To write plan read a plan

Look at some examples of business plans to get your mind the writing style, the sequence in which the ideas are presented, and the parts of the plan and how they are laid out.

Check out our Business Plan Survival Guide which has tons of downloadable resources to make business planning an easy process for you. Full of content and ideas for developing your business plan, marketing plan, resources plan and all the areas of your business plan requirements.

It doesn't need to be right first time

Set yourself a deadline and commit to it. Don't be disappointed or frustrated if the first draft is not perfect. They all start out that way. 

Write it for others to read

Your plan has to make sense to other people, particularly if you have to show it to a finance lender, or to a potential investor. If it makes sense to a third party then it will be easier to use and work with. 

Use the plan

Don't let your plan sit on your PC somewhere never to be found again! It should be referenced on a regular basis. Refer to it often, as you will need to keep focused and motivated, remember you use it or you lose it!

Update your plan regularly

Remember you are writing a plan of action to be reviewed and updated regularly. If you are using it properly then the need to update it will be obvious. 

So sit down and write down a date you are going to start work on your business plan. Block out a whole day or a weekend to ensure you give this your full attention.