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WAM's here to help: business planning

Essentially your business plan is a description of your business's future, a document that tells you what you plan to do and how you plan to do it.

A business plan can be created for both a start up business who need a plan in place to achieve their initial goals and have a guide for the first few years of their business or for an already existing business which may need a health check or to look at areas which may need a little more focus than they have been given.

Four things that will help you with your business plan:

BE PRECISE - BE SPECIFIC - KNOW YOUR MARKET & KNOW YOUR FINANCES.

Six things that we would suggest you ask yourself when looking at writing or adapting your business plan would be:

1. WHO ARE YOU?

2. WHAT DO YOU DO, WHAT IS YOUR PRODUCT OR SERVICE OFFERING?

3. WHO IS YOUR TARGET AUDIENCE?

4. WHO ARE YOUR COMPETITORS?

5. WHAT DOES YOUR MARKETING STRATEGY INCLUDE?

6. DO YOU HAVE REALISTIC FINANCIAL FORECASTING IN PLACE?

 

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