Tips for Writing Your Business Plan

If you are starting a new business or want to grow an existing one here are some tips for writing your business plan.

1. Write a short summary of what the business is about. What are you trying to accomplish?
2. A description of the business. Where is the business to be based, who are its target customers and what product or service will it provide.
3. The philosophical viewpoint of the business. Go beyond money and always remember that people don’t care about how much you know until they know how much you care.
4. Create an organisational guide or chart. Write down the structure you envisage. Who is getting what shares, is there a shareholders agreement? Will you be a limited company or a partnership etc.
5. Product or service? This contains information about what you will be supplying.
6. Marketing. How will this be done. How do you intend to network. What advertising will you budget for etc. How will your website look and what design will your business cards have.
7. A financial analysis. Be honest with yourself. Work out how much cash you think will come in over the next year and when. Do you really need to lease that office/car or photocopier? Ask yourself genuine questions.
8. Predict the future how you would like it to be and then do a reality check.
9. Any other items you can think of.

These tips are only a guide to get you thinking but rest assured without any sort of plan you may well be planning to fail.

Plan for tomorrow so that you can live for today and good luck.

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