Who needs a Plan?

Anyone who starts or runs a business. It’s as simple as that … no ifs, ands, or buts.

Don’t think that you or you business are any different. Successful companies all have plans … unsuccessful companies don’t.

Why do you need a business plan?
The main reason is you!

A good business plan will help you:
Writing a business plan is difficult or daunting as you might think and even if it were... it is something you must do!
There are a few things that you can do right now to get started.
1) Think about the background and history of your company. Write a general description of your business, how long you have been in operation, and some basic financial details.
2) Write a few paragraphs about the nature of the products or services you offer. Use language that a non-expert will understand. What do you sell? How is the product used? What need does it serve?
3) Think about your competitive position in the market. Write out answers these few basic questions: What are the advantages of your product (cheaper, better quality, unique features, etc.)? Are there any disadvantages? (be honest!) Who is your competition? Describe their products, advantages and disadvantages.
4) Next think about your customers. Write a description of your typical customer. Who are they? Where are they? Why do they buy? When do they buy? Who makes the decision to buy?
5) Write a clear statement of your business objectives. What are your goals, in terms of sales, profits, traffic to your website, etc.? Set some objectives for 3 months, 6 months, one year, and two years. Start by thinking about your one year goals, and then work backwards to formulate the benchmarks you need to reach at 6 months, and 3 months from now.

These are just a few of the considerations that need to go into a powerful business plan, but even these five points will get you started. Spend some time on your business plan; you owe it to yourself and your business.