We are at the end of the year already!
Not only we are heading Christmas holidays and a New Year pretty soon, BUT we are actually in a “National Write a Business Plan Month”!!!
The history behind of this is that National Write a Business Plan Month was created to assist businesses small and large, so they could stay organized, prepared, and have a smoothly running company.
National Write a Business Plan Month is an annual designation observed in December. Have you ever thought about starting your own business, but aren’t sure about what steps to take?
Or you have your business already, but everything seems so unorganized?
Well, my friend, consider this a sign… We’re here to help! Every business needs a business plan, and it’s a great step in the right direction when it comes to creating your own company. Whether you want it to be your livelihood or just a side gig, putting together a well-researched and detailed business plan will make your life a whole lot easier in the weeks to come.
HOW TO OBSERVE
Create your own business plan. If you aren’t sure how to put together a business plan, you’re not alone. They take a fair bit of time and hard work, but when they’re done right, they’re amazing tools. Here are some essential elements of a great business plan.
1. Executive Summary
This shows your business plan in its entirety, including your business’s profile, mission, and how you plan to get there.
2. Market Analysis
This part involves thorough research on the industry of your business. It’s the quantitative and qualitative assessment of your market.
3. Company Description
This should offer information about what your company does, and what differentiates you from others similar to you if any. It would also be wise to mention your target audience/clients in this section. Who do you appeal to?
4. Management and Organization
Discuss who is in charge, how many employees you wish to have, and the basic workflow.
5. Marketing and Sales
How do you plan to promote your business and make sales?
Services and/or Products. Talk about what you’re selling or what services you offer, and who they will benefit. Go into detail about these products or services.
6. Request for Funding
If you need assistance with funding your business or products, mention how you plan to access those funds.
7. Financial Projections
In this section, provide financial projections for 3-5 years. How much you plan to spend, earn, and what your profit is expected to be.
As we are at the end of the year, so have you created your Business Plan for 2020 yet?
If you need help to #levelup your business, contact us now.
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