Writing a Business Plan
“Read over your existing business plan like you read the menu at your favourite restaurant.” – Darren L Johnson
The business plan is a means to an end. It forms a platform for the management or owner which forces them to think through all element of their business. Whilst a good business plan alone can’t guarantee success, we can confidently endorse the over used maxim that ‘failing to plan is planning to fail.’
The plan will set out what the business is aiming to sell, who to, and where and how its customers can be found and reached. It will also consider your competitors and their current approach. It will also consider what resources (typically money, equipment and people) you will need and how much profit your business will ultimately make.
Don’t forget – profit is more important than sales, cash is more important than profit!
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As straight forward as these statements sound it is the underlying content that separates one business plan from another. Strong content will enable the plan to be used immediately from execution and should provide direction and clarity for the early stages of business launch.
Remember though that your plan should be a ‘living thing’ and should be up for regular review – don’t allow it to be forgotten and don’t stick to it for the sake of ignoring a developing opportunity!
Business plans should be written for the reader, you should have a different document for a bank manager than the one created for a supplier or partner.