How to write a Business Plan for one’s little business to strive has been a headache for a number of people who cannot afford the services of professionals over the years. With the former in mind, we have decided to help.
If you have always wondered how professionals are able to build up plans of how a business should be set up, do not feel so anymore because your remedy is here in this article.
With all the above said and done, let’s dive straight into the main issue in contention already.
How To Write A Business Plan For Small Businesses
The contents of any ideal business plan are listed and explained below for your perusal. Read closely.
1. Market Survey Analysis and Summary
There is the need for one to learn about what people really need and actually spend their monies on. Knowing this helps you to know the best product to invest your money into.
Once you have done this, summarize the important notes in the business plan under the heading listed at point one.
2. Business Objectives
When you know what you are going to be dealing with under your business, you will know why you are dealing with such a product.
Under the objectives, set the goals to be achieved by the business in the shortest possible time and list them.
Example: To become the biggest dealer in smart TVs in the Ashanti Region of Ghana.
The mission of any business clearly stipulates why the business is established and what the business seeks to achieve.
The ability of one to come up with the above would then make way for improved service delivery in the business dealings.
Example: To supply Smart TVs to retailers in the Ashanti Region of Ghana for reselling.
4. Business Registration Details (Name, Location, and Type of Product)
The next thing to come up with in your plan is the above listed. These are essential for legal reasons and the identity of your brand by others. You must clearly state what you want to deal with since that would help in the registration.
5. Funding, Capital, and Assets
The last thing we will talk about here though not the last of all is the funding source of your business, the capital to start with, and the assets available at your disposal.
If the business is a Sole Proprietorship, funding can be from personal savings, donations, and gifts amongst others. This then defines your capital and assets.