We're going to give you the heads up on business plans!
Firstly, very few people we see have them, so it's clearly possible to start and run a business without one.
So why have one? we think there's a really simple answer to this question, and it's because it minimises your risk. Consider two identical businesses. Identical location, identical skills. Our experience is that the owner who plans minimises risk; hence wasting less capital and developing faster traction in the market.
What is a business plan anyway? A business plan has the following key features. It is a sequential document in which you write answers to key questions structured in a particular order. It's sequential because, for example, you need to know how things like your premises needs before you go out and sign a lease. The answers to these sequential questions determine your branding and marketing plan so that your customer offering has a consistent look and feel. During the planning process unique strategies will emerge that you will collect in a strategic plan. The strategic plan is broken down into an action plan and money flows will be summarised in a cash flow statement.
When do I really, really need a business plan? A business plan is essential if you're applying for finance because it's like a viability assessment.
Where can I get a good business plan template? Right here:http://finetunebiz.com/services.htm . Scroll down until you find the Resources heading.
Need more information?
Contact admin@finetunebiz.com
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