The purpose of a business plan is to help you understand the mission of the company, the financial needs of your potential business and even the structure of your new business. You may think you do not need a business plan but understand that assumption is incorrect, many legal services, financial advisers, investors and possible business mentors will want to see a business plan.
You may ask yourself, “ What is a business plan exactly?” This a valid and valuable question. A business plan is basically a description regarding the future of your business; what you are going to do with your business and how your are going to make it happen.
Another question, “ What sort of information do I put in a business plan?” should be weighed.
Http://top7business.com/ gives a list of the top seven things you need to include in your business plan.
1. A Mission Statement. This is a statement to let individuals know the values of your company and its purpose.
2. A Business Description. This a detailed description of what your business does, what you sell or service you provide.
3. Short-term and Long-term Goals. Short-term goals usually cover a few months to one year of business. Long-term goals generally span three to five years of business.
4. Potential Customer Base. Who are your customers and what will they buy from you?
5. Competition Analysis. This will allow you to research your competition and analyze whether your can make your business a success.
6. Financial Analysis. This will help you to gain a realistic view of what you can afford and how much money you will be spending per month.
7. Marketing Strategy. This gives you the opportunity to find where you need to advertise and the types of advertising will suit your business needs.
Owning your own business can be the key to your future success. To make it successful, you must have a solid business plan.