| There are some very compelling reasons for writing a | | | | In terms of how you are going to get there, this is the |
| business plan for small businesses. The challenge is | | | | strategy and tactics section of your plan. Again, what |
| that the misconceptions about what needs to go into a | | | | are the ways you are going to do the things you need |
| small business plan scare most owners and | | | | to do? This could be everything from the methods you |
| entrepreneurs away. | | | | will use to attract customers, to the way that you will |
| If you are like most small business owners or | | | | approach pricing your products or services. It can also |
| managers, you are incredibly busy, if not borderline | | | | address your marketing and advertising plans. |
| overwhelmed. The idea of taking hours of valuable | | | | The main thing to keep in mind when it comes to your |
| time to write a plan for your business may not seem | | | | strategies and tactics, is to make them realistic. If you |
| worth it. But the data proves differently. | | | | are going to need a lot of specialty skills (that you don't |
| When writing a business plan for small business, focus | | | | currently have...) or technologies or a lot of money to |
| on what really needs to be done, and what really | | | | do them, then chances are they won't get used. Write |
| needs to be measured. The plan does not have to be | | | | this section of your plan so that you can actually do |
| a 15 or 20 page document. In fact, it should only be one | | | | everything you need to do. |
| or two pages maximum. You should also have a | | | | Next, you need to create a few measurables for your |
| yearly budget or financial plan as well. You really do | | | | business. These are things like monthly sales revenues, |
| not need to go overboard and do tons and tons of | | | | profit percentages, labor hours to sales, number of |
| research about the market, and the opportunity, | | | | returns per month, number of employee hours each |
| especially if you are already in business! | | | | month, etc.. These are all things that you can keep |
| To write your plan, you will need a few things to get | | | | track of so that you will know if your plan is working, |
| started. If you can assemble any of your sales and | | | | or if you need to address something quickly. |
| financial information for the past couple of years, that | | | | Each business, and each industry can have it's own |
| would be a bonus. You will need a notebook and | | | | set of unique measurables. You may have one |
| writing instrument, possibly a laptop or a computer, and | | | | statistic you can keep that is a telling symbol for your |
| yourself. Then, basically find a quiet place to sit down | | | | business. Keep track of it, and see how it effects |
| for about an hour, and think about your business, and | | | | other areas of your business. |
| where you want it to go, and how you think you can | | | | You should be able to track anywhere from 3 to 9 |
| get it there. | | | | different measurables. Any more than that and you will |
| Let's start with where you want your business to go. | | | | not get much from it, and you are less likely to actually |
| This is just a fluffy way of saying your vision for your | | | | collect the information anyway. If you are using |
| business. Set a timeline for your vision; say 18 months | | | | software like QuickBooks, Peachtree Accounting or |
| or up to 5 years out. Then think about what your sales | | | | another accounting app, there are several |
| would be if everything goes as planned. What are | | | | measurables you can pull and use to track your |
| your primary products or markets, and where will you | | | | success. |
| do it. | | | | All of the above information will fit nicely on one or two |
| Here's an example: Within the next 3 years, grow MS | | | | pages. Once you have that information, and you have |
| Cut to $750,000.00 in sales providing industrial routing | | | | written your business plan for your small business, the |
| and cutting services to manufacturers and distributors | | | | number one thing you can do is to use it, and use it |
| in the Indianapolis market. | | | | often. Make a monthly (or weekly) appointment with |
| Or how about this: In the next 18 months, launch Tim's | | | | yourself, your business partner, or your senior staff to |
| Lunch & Deli, growing to $250,000 in sales. We will | | | | review the plan, and make sure it still relevant. If |
| provide delicious sandwiches, soups and salads using | | | | something changes (and it will!), change your plan. It |
| all locally grown vegetables and products to the public | | | | should be a living, dynamic document that you use on |
| in downtown St. Paul. | | | | a regular basis to run your business. |
| By writing out where you want your business to go in | | | | By writing a business plan for your small business, you |
| this fashion, you can clearly imagine the end result of | | | | are creating a better opportunity for your business, and |
| your vision. | | | | giving it a better chance of success. |