How to Write a Small Business Plan of your Own
Preparation and careful planning is the key to starting your own business as well as getting investors to invest in your start-up company. Any business needs a good business plan to steer its course as well as anticipate possible problems.
Here are a few things that you must consider and include in writing your own small business plan.
The most important parts of your small business plan include a description of your small business, a developed marketing plan, and a management plan. In describing your small business, you have to be able to describe what business you are in. In this part of your business plan, you should be able to put the goods and services you plan to sell as well as the location or place of your business. Indicate why you have chosen such location as well as the advantages and disadvantages of your location. You may also seek to be more detailed in the description of your business by including the special aspects of your business and why you think your business would appeal to your target market. In your description you must clearly point out the purpose of your business as well as the goals and objectives of your business.
In the description of your business, you must be able to describe the products and services that you are offering. Why did you choose to offer such products? What are the strengths of your product and possible weaknesses? How is your product or service better than your competitors? What possible benefit or good will your products have on your consumers?
In the location part of your business plan, it is important to remember that in choosing your location, you must take into account the accessibility of your business as well as the needs of your target consumers. Your business must be in a place where your market can easily reach you as well as adequate in space to accommodate your customers. Indicate in your business plan the expected needs of your location. Is it accessible enough? Big enough? Is your location beneficial or not?
In the marketing part of your business plan, it is important to get to know your consumers and address their needs. You must be able to develop a marketing plan that would both address the demands of your consumers as well as potential needs or wants of your target market. In this part, you must provide in detail your target market. Provide demographics, economic and socio-political trends, the expectations of your customers, as well as your advertisement and publicity plans.
Also provide a management plan in your business plan. This includes your financial management plan as well as your personnel management plan. In the financial management plan, be able to show budgetary allocations, projections in profits and losses and ways to address these losses. In the personnel management plan, indicate the employees you would need, their positions, salaries and rules and regulations they need to follow.
29 Comments
- i love this little explanation that i read from the site. please could you send me more information about starting a small business. Thanks, kolawole ishola
- A very helpful explanation.Thanks
- Hello sir, i really love your all article and how somebody can started business idea. i would like to send me more information on business planning & investment, growth. Thanks
- Fabulous and very useful article... I wish you to share more article related to this topic.
- I want to start SI, engineering services, trading PVT LTD firm in Bhubaneswar, Orissa, India
- I am a Nigerian and I am based in Lagos. I really love this explanation of yours Sir. Could you send me more useful hint/guide relating to starting up a new company? thank you.
- Wow, brief, yet very explicit and concise, very imperative to start any biz venture. Thanks very immensely for such inspirational piece that many first timers will rip huge benefits associated with entrepreneurial endeavors.
- Thanks for your good article. Can you please send me a rough draft of starting a fish business plan for retail markets?
- pls send me how to write a business plan for a supermarket. i really need a sample of the balance sheet and other related ideas. thanks. i live in lagos, my proposed location is somewhere in mainland.
- could you help me writing a business plan for a nursing home and a day care center in south africa would like a guide about profit and loss balancing books as well. thank you
- Lebanon, Indiana, USA. I want to start a fabric and craft supply store; we need something local but am in need of a lot of knowledge on where to purchase such things from along with a lot of other things in starting such a business. Any help you could direct me with will be greatly appreciated. Thank you
- could you help me writing a business plan for manufacturing caskets in RSA and would like a guide about profit and loss balancing books.thank you...
- i am 24yrs old kenyan. i just completed my first degree. i really need 2 venture into computer and computer accessories business in nairobi kenya. my main problem is raising capital and finding a strategic biz location. your help will be highly appreciated.
- I am a part-time business plan writer and I can help you write your plan. Writing the plan take lots of research, facts and figures, etc. Contact me at liajarita@yahoo.com
- I would like to start up making crayons factory, I need to know how to start it and the business plan for manufacturing the crayons factory in Malaysia.
- I really have a plan to make a supply business to the ship such as dry stores,wet stores etc please give some guide for me to start and develop well. TQ.
- Hi William Chong. I am also interested in making crayons factory in malaysia. may be u email to me stanhon at gmail dot com for discussion
- Nashville, Tennessee. My family has been in the car business for years and now we want to start a junkyard. I will need help to start this business.
- Need help on writing a business plan to start a wood flooring installation and refinishing business.
- I want to start a Granite Exporting business. but I dont have capital amount. Please help me
- we are planning to build a big supermarket in our province at the Philippines.. but i don't have any idea regarding this business,. Please help me...tanx
- i want be in trading in pune , maharashtra . i want to start from my house . To buy from rural area to city or vice versa . Who do go ahead & what to ? i am not having even money ? Because presently i am 45 year old & my recent job is become very tough to me. I am having one small child of 5 year old + home loan for next 10 years . please me out from bad situation .
- I am @ the beginning of having a purse/clutch/handbag bus. I have designed these purses and have made a few to get started. I now need help in getting a bus. plan on paper. I really don't know where to start and which way to go? Could someone please help me? my email address is: sewinggrl@yahoo.com. Thank you
- hie i would like to start a demolition business in zimbabwe, i am asking for assistance in writing a business proposal for me to get a loan from the bank
- hey I'm Gerard Guti and from Papua New Guinea doing my third year of my first degree in Bachelor in Arts Commerce and i want to start up a coffee processing plant at my home. Please if anyone who has an interest on that can contact me on gutigerard@ymail.com.
- please i need someone to help me draft a business plan for a poultry farm. am new to all this but i have passion for farming. contact @ virilekeboletse@gmail.com
- I want to start a spice business, starting with one spice online and local. I need to know all the things I need to do...Will a business plan get me that info and do you have one.
- Sterkspruit, Eastern cape. South africa. I need help on how to do a business plan, I want to open a combined enterprise a coffee shop, internet cafe and car wash on the same premises. I also need to know on how will I get a business loan.
- Hi, I have problem on compiling a business plan on delivery or logistic or on courier express and it must be profitable to get the funds so I don't know where to start or go in order to get the fund, cause business is active and registered but not yet running, Please help.
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