Last week we covered off 4 areas to include in your business plan. Today we look at 3 more, plus the number 1 rule when it comes to writing an effective plan.
But first, section 5
3) Competitor analysis – what is your competition doing — you need to know!
6) Financial analysis – all the numbers, your budget, your sales forecast,
your overheads, staffing costs etc.
7) Marketing plan. Including Strategy and actions for online and offline marketing. Collateral, promotions etc.
And finally here it is:
A business plan should be a practical guide that you refer to throughout the year. It shouldn’t be so dense and complicated that it resembles a modern day version of war and peace!
I’ve seen people spend weeks writing a business plan and then leave it sit on their desk for an entire year!
Keep it simple, keep it clear and concise. You should be able to draw key actions from it, and each quarter refer back to the detail to make sure you are on track with the plan!