Successful Companies Review Their Business Plan Every Six Months!

A business set-up for effective long term growth will always have a written plan for reaching the goals or vision for the company.

A business plan can be basic or extensive. The best plan is very extensive, however, starting with a basic plan is better than nothing. Any company not planning to succeed is actually planning to fail.

The elements of a basic plan is:

1. Cover Sheet - Which would include a LOGO, Business Name-Address-Name of Principals, be very professional and emulate your business
2. Mission Statement - A one paragraph statement of what your business is and what you want to accomplish (view this from the clients prospective)
3. Description of the Business - What is your product or service? What market will you be going after? Location of the business and why was that location chosen? Who is your competition? What will attract clients to your company verses going to your competition? Name management and the duties of each.
4. Marketing - Again, Who is your market? How will you get their attention? If you have a particular niche, speciality or attraction, what is it? What will you use to advertise or promote your product?
5. Competition - Who is your competition and what edge do you have over them?
6. Financial - A. List all financial needs.Include equipment and costs, how much money you plan to invest to get things going. B. Project cash flow and go out for three years.
7. Summary

This is the simplest of plans and I recommend that much thought be put into this plan, it be put in writing and shared with all employees. We (Financial Control) can coach you step by step through the process. We can be contacted by any of our links: Email  Linkedin