How To Develop A Small Business Plan

How To Develop A Small Business Plan-20
Download Now You’ve no doubt heard the expression, “Failing to plan is planning to fail.” Many entrepreneurs write a business plan only when they need to secure start-up financing.However, your plan is far more than a document for banks and investors to read; it’s an invaluable roadmap for launching and growing your business.Here's a sample outline: Your business plan should reflect changes in your business, the industry or the market.

There are several resources available to get you started with your business and business plan.

Get Started on your business plan by downloading Small Business BC’s Business Plan Template and Cashflow Forecasting Tool.

Include information on any market tests you have conducted and identify your direct and indirect competition.

Also delve into your marketing plan and sales strategy.

DOWNLOAD OUR FREE BUSINESS PLAN TEMPLATE Here are some resources to help you with your business plan: Import / Export Business Registration Resources: Refer to our Business Planning Resources guide.

Get Started on your business plan by downloading Small Business BC’s Business Plan Template and Cashflow Forecasting Tool.This will supplement the sales and growth strategies you describe by highlighting your human capital.Funding and financial analysis, generally in the latter half of your plan, are the most important areas to dissect.A market analysis centers on the marketability of your business, who your competitors are and how you fit into the competitive landscape.In the analysis, identify and describe your industry, your target market and how you'll reach those customers.Your executive summary should be written last, after you’ve written the rest of the plan; each paragraph should be a summary of the more detailed, related section of the plan.In your overview, include details regarding your business’s history, vision and/or mission, objectives, and your ownership structure.A decade ago anyone you approached with a business idea without a plan would have laughed and shooed you away.Even your friends and family, or the most aggressive angel investors.Some believe this is the most important part of a plan – so much so, it’s worth dedicating up to 80% of your time to writing this section.You’ll need to show three years’ worth of projected financial statements, including income statements, pro-forma balance sheets, and monthly cash flow and annual cash flow statements.


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