| Creating a business plan will help you improve your | | | | - Where do you want to be? Why aren't you happy |
| chances for succeeding in business and avoid making | | | | with your current business? |
| key mistakes. Even if you are the only one who reads | | | | - What are your monthly sales and revenue goals? |
| your plan, you should have a written blueprint for what | | | | - What obstacles have you faced that have |
| your business does, who you serve, why you are | | | | prevented you from achieving your goals? |
| different from competitors and how you will conduct | | | | - How can you overcome those obstacles? |
| your day-to-day business operations. | | | | - What resources, time, and budget do you have to |
| Why Creating a Business Plan is Important | | | | devote to growing your business? |
| 1) If you are considering starting a business - Your | | | | - Which projects and activities should you prioritize? |
| business plan will help you analyze whether you | | | | Which should you abandon to free up more |
| business idea is viable and worth the time, money, and | | | | resources? |
| resources you must commit to making it a success. | | | | 3) If you want to improve your company's operations - |
| Ask yourself: | | | | Your business plan can help you determine where |
| - How will you define success? | | | | inefficiencies and obstacles lie and how to improve |
| - Do you have the necessary skills and expertise to | | | | your performance. Ask yourself: |
| start this business? | | | | - What are your strengths and weaknesses |
| - Can you afford to start this company? Do you have | | | | compared with your competitors? |
| enough money to cover start-up costs and monthly | | | | - How can you improve upon your weaknesses? |
| expenses? | | | | - How can you increase sales? |
| - How will you make money? How much revenue do | | | | - How can you better serve your customers? |
| you expect to make each month? | | | | - How can you devote more time to |
| - Who is your target market? What type of customer | | | | income-generating tasks? |
| will buy your products and services? | | | | - Where do you spend most of your budget? In what |
| - What is the risk? If the business fails, how would that | | | | areas can you reduce costs? |
| impact you, personally? | | | | - What does change look like? What do you want to |
| - Will you enjoy being self-employed? | | | | achieve? |
| 2) If you want to recover from a slump - Your | | | | - What actions can you take today to start achieving |
| business plan can serve as a guide to growing your | | | | those goals? |
| business and increasing profits. Developing a plan will | | | | A good business plan will inspire confidence and give |
| help you prioritize what daily activities and projects to | | | | you the motivation to make lasting change in your |
| focus on. Ask yourself: | | | | organization. |