New Business Startup Guide – The Business Plan
Posted on July 23rd, 2008 by Ahmed
Welcome to my second post on the topic of new business. Today i’ll be discussing on why a business plan is important and how to implement one.
Starting a business can sometimes be like going on a very long journey, a journey where you have no destination. Yes, you can call it a fool’s journey if you like.
The business plan
- The business plan is a written document that give a good description of a business, its objectives, strategies, etc. It has many advantages such as sucuring finance from an external source.
- Carry out market research before anything – this is vital. Ofter, people leave this step and in the long term, realise their mistake except turning back at such a time is a fools dream.
- Establish the aims of your business.
- Define the ‘mission statement’ of you business.
- Explain what your products and services are.
- Write your business plan! It takes time – remember my last post, having this done overnight is a fools dream.
Structure
- Title Page
- Contents Page
- Introduction Page
- Main body plan
- Acknowledgments
- Bibliography
- Appendices
Other issues to keep in mind
- Training implications – Will you need to train staff
- Customer Service Charter – This sets customer expectations, so be realistic.
- Implication of Premises and IT
Thats all for now. Dont fool and dont be fooled!
[...] a sponser (Also known as a Grant): If you have a great business plan set out (See previous post), then your very likely to get funding. Again, you will have nothing to worry about if things go [...]