Writing a Business Plan
Happy Tuesday Community! I hope your year is off to a great start. Today I want to chat about something a little different. Whether you’re thinking about starting your own business or you’re a seasoned business owner, you are well aware that demands can come at you quickly. According to a QuickBooks survey, 70% of business owners recommend writing a business plan before you start a business. I am going to go over the 10 steps that this article in the QuickBooks Blog touches on. Here are the steps:
- Create an executive summary
- Compose your company description
- Summarize market research and potential
- Conduct competitive analysis
- Describe your product or service
- Develop a marketing and sales strategy
- Compile your business financials
- Describe your organization and management
- Explain your funding request
- Compile an appendix for official documents
The most important thing to remember is that a business plan is supposed to communicate who you are as a business, what you plan to do, and how you will go about it. It’s also a great way to attract any investors or talent. For more guidance and tips on how to go about writing a business plan, make sure to check out the full article here. Until next time!