Business Plan

Why do you need a business plan? It 's a common belief that you only need a business plan to get funding, but that's not true? How do you know how well your business is performing unless you set goals and monitor your progress? A detailed business plan is a map, to where you're business is going and how you're going to get there. Why not start yours today? You'll find lots of help on the website on how to do this and if you need more help why not make a free appointment and I'll chat you through it.

6 REASONS TO HAVE A BUSINESS PLAN

 

1. To test the feasibility of your business idea


2. To give your new business the best possible chance of success


3. To secure funding


4. To make business planning manageable and effective


5. To attract investors


6. Have goals by which you can manage progress

Who are your competitors? What makes you different from other businesses in the same industry? Market research is a key part of your business, not only as a start-up but as you launch new services and products

A plan forces you to think realistically, objectively, and unemotionally about your business

Having a business plan makes it easier to communicate your objectives and strategies to partners, bankers, financial backers and employees

Financial Projections - is your business going to be profitable? How much do you need to earn to cover your current living expenses? 3-5 year budgets should always be part of your business plan

How to avoid writing mistakes

1. Creating a poorly written document. Spelling, grammar and punctuation are important, so make sure you check these before letting someone read your plan.

2. The plan looks a mess. Different margins throughout the documents, missing page numbers, no headings on tables. Proofread the document carefully, or better still get someone else to do it for you.

3. An incomplete plan. Make sure that you include the key sections products and services, marketing, sales, customers and competitors as well as a minimum of 3 years financial projections.

4. The plan is too vague. It is important that anyone reading the plan can understand it

5. The plan is full of jargon. Filling your plan with technical jargon can put people of reading your document

20 clutter words & phrases to avoid

  1. All off
  2. As a matter of fact
  3. As being
  4. As yet
  5. At all times
  6. Basically
  7. Essentially
  8. Being that
  9. During the course of
  10. Each and every
  11. For all intents & purposes
  12. For the most part
  13. In order
  14. In the process of
  15. Just
  16. Point in time
  17. Pretty
  18. Simply
  19. That
  20. Up/down

Why not sign up for a free 1-2-1 call, when I can chat you through your ideas and offer some advice on writing your business plan

+44 7919 161429 | hello@busiwriter.co.uk

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