WRITING A BUSINESS PLAN.
Make sure you monitor your business plan and check it so you do not take your eye off the ball. You will not be get money from a bank without a business plan so it is always worth having one. It goes through all aspects of the business and the Princes Trust has a very good business plan template to work from.
Some businesses go through their business plans daily which shows how important it is. A lot of business plans is based around marketing and it is worth monitoring it so you can change plans.
Timelines are effective so you can have monthly, quarterly and yearly goes throughout it. Planning always gives you a more objective look of a business. They should not be complicated and accuracy is key when it comes to creating business plans so keep things simple and do the business plan in small chunks. Planning gives an objective look of the business. Use SMART targets to achieve goals.
"Business plans are documents that present the entrepreneur's conjectures in written and visual form (diagrams and charts), which facilitate communication of those conjectures to resource holders." (Shane, 2003, p.187)
Some businesses go through their business plans daily which shows how important it is. A lot of business plans is based around marketing and it is worth monitoring it so you can change plans.
Timelines are effective so you can have monthly, quarterly and yearly goes throughout it. Planning always gives you a more objective look of a business. They should not be complicated and accuracy is key when it comes to creating business plans so keep things simple and do the business plan in small chunks. Planning gives an objective look of the business. Use SMART targets to achieve goals.
"Business plans are documents that present the entrepreneur's conjectures in written and visual form (diagrams and charts), which facilitate communication of those conjectures to resource holders." (Shane, 2003, p.187)