Weaknesses What doesn't your business do well at the moment and how will you improve this? Graham McGregor is a consultant specialising in memorable marketing.
Instead, think big picture. It will help you apply for business finance and keep your vision on track once things are up and running. This will help you construct a plan that makes the most of your abilities, while still being realistic.
Work hard at this and try to make it memorable. Here are four steps to help you create and implement an effective business plan. A summary of costs that are contained in the business structure.
You may initially have to assume who you think your customers are, but once your business is live you should be able to update this using real sales data Explanation of products and services: Should be designed in line with your USP and meet the needs of your target market Key goals: Must be measurable, achievable and consistent with the financial plan Capital requirements: How much will you need to start and run the business and where will you get the funding?
This can refer to paying customers or casual users depending on your business. If not, think carefully until you do.
Be specific and clear about what you want to achieve. Business Plans are a strategic management tool that aid in effectively establishing a clear idea of what it is you want to achieve, as well as identifying any problems, opening the channels for additional advice and providing a formal document for banks, lawyers and the like.