| Small business plan One of the most important tasks | | | | the marketplace, how you are to proceed with |
| to carry out when you are planning to launch a brand | | | | advertising media, where you plan to retail your |
| new small business, is to take time to prepare a fully | | | | products and services and also note any restrictions |
| functional small business plan. | | | | that may apply to certain products or services. |
| Writing a small business plan will not only allow you to | | | | 4. Operational: This is where you should identify the |
| focus on your business start up, but it will also be a | | | | time constraints that may apply (production time, |
| valuable asset to present to your business bank | | | | supplier lead time etc), delivery timescale's to your |
| manager or indeed any potential investors who may | | | | customers, supplier conformance, shipping options and |
| wish to inject vital funds into your new small business. | | | | the limits that will apply. |
| Another key benefit of a well written business plan is | | | | 5. Financial: This is a key section and should clearly |
| that it becomes a permanent reference point for you | | | | demonstrate your total costing's, direct expenses, |
| to view as needed and will assist you in maintaining | | | | projected stock holding (if applicable), accounting |
| your focus for the life of your business. | | | | methods, sales tables and your sales targets and |
| I am writing this guide in small sections to allow you to | | | | company budget controls. |
| follow the plan in your own time. This article will | | | | 6. Timetable: When writing your business plan, you will |
| demonstrate the complete overview of what you will | | | | need to focus on 'forward planning'. This will |
| need to consider when writing your small business plan. | | | | encompass you projecting a timetable of development |
| Small business plan - an overview There are 6 key | | | | ...where do you see your company in 5 years for |
| elements to consider when preparing to write your | | | | example. |
| business plan they are; | | | | This article gives you an explicit overview of what a |
| | | | business plan should contain. Of course, business |
| 1. Your business aim: this section should indicate your | | | | models vary and you should be looking to vary the |
| businesses generic goals and should also identify what | | | | plan to meet the exacting needs of your own |
| areas you will need to research (such as marketplace, | | | | business. |
| route to market etc) and also pinpoint an accurate | | | | In my next article we shall begin attacking each aspect |
| timetable for your small business development. | | | | of the business plan in detail beginning with your |
| 2. Stock: this section should demonstrate your | | | | business aims. |
| products and/or services that your are planning to | | | | I hope you find this resource useful and remember, |
| specialise in, where you may source your products | | | | taking a week or so to write your small business plan |
| and any legislation you may need to be aware of and | | | | will save you time AND money in the future. |
| comply to. | | | | One famous quote to consider is "if you fail to plan, |
| 3. Promotional: here you should plan to demonstrate | | | | your are planning to fail". |
| how you intend to get your products and services to | | | | |