Writing a business plan might seem like an onerous task but, if you put your mind to it, you can write a plan within the day and it certainly does help to clarify and confirm objectives.
Here are my top tips for creating a brief but purposeful plan!
Try to find a day when you will have the least amount of distractions – maybe a Bank holiday or weekend as you can work on the plan, uninterrupted by emails and phone calls.
Keep the plan brief. This applies whether you are sending it to friends/family for them to consider investing or if it is just for your own sense of clarification. The best ideas can be expressed in the shortest amount of time but be sure to include some key headings, being:
The product: What is the service or product you are offering?
The market: Who will you be selling to and who else is currently selling to the same market?
Operations: How will you develop, promote and sell the product and retain customers?
Financials: Does it all add up? Will you earn more than you spend?
It is well worth dedicating a good day to this exercise. A well-written business plan will remind you of your key business objectives and you can return to it every six months or so to ensure you are meeting targets and to update the contents.
Emma Jones is Managing Director of Redbrick Enterprises Ltd and Editor of Enterprise Nation, the home business website.
Making a plan for your home business - To learn more about this author, visit Emma Jones's Website.
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Emma Jones
(Visit Emma's Website)
Emma Jones is founder and editor of
Enterprise Nation, the home business
website, and has started two businesses
herself from home offices in London,
Manchester and rural Shropshire.
Following a career with international
accountancy firm, Andersen, Emma started
her first business at the age of 27 and
successfully sold it just 15 months after
launch.
Emma launched Enterprise Nation, the home
business website, in January 2006. In its
first 18 months, the site attracted more
than 400,000 visitors and national press
headlines.
As a business consultant, Emma is an
authority on business issues and as
founder of Enterprise Nation is well tuned
to the unique issues of home businesses in
the UK.
She has written for Enterprise Nation
since its launch and also for the
Financial Times, City AM and customer
magazines, including for Orange and Viking
Direct. Her syndicated columns appear on a
range of websites from Microsoft’s site
for small business to women’s website www.busyg
irlsguide.co.uk
Emma is regularly called upon by the
Government to speak on the subject of home
business and advises Regional Development
Agencies on how to encourage and support
homeworking.
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