Small Business Plan – Small Business Articles and reviews are independent of the editor. We may earn money if you click on our affiliate links. Find out more.
Blake is an award-winning consultant, author and speaker. As a consultant, he has helped over 700 business owners start and grow their businesses. His expertise is related to Fit Small Business and start a business.
Small Business Plan
Maybe now you have a business idea. What a miracle! Now you need to think this idea through, put your thoughts on paper. A one-page business plan will guide you through every step of creating your business idea. If you know your financial projections, you can complete the basics of this plan in less than 15 minutes. Planning is a great way to understand the costs and potential revenue of your business idea.
Amazon.com: The 8 Step Marketing Plan For Small Businesses: Your Step By Step Guide To Implement Successful Marketing Strategies (small Business Marketing Mastery Series): 9780998394749: Grassey, Barbara: Books
Download the template and save it to your desktop for easy access. The fields in the PDF are editable. You can also print the document and write it by hand. Answer each question in one or two sentences – feel free to write in incomplete sentences.
If you need more space to write, then put the important ideas on a template and continue writing on personal documents.
Every business deals with a problem. What specific problem will your business solve for the customer? Try to get to the real question of your customer.
For example, for a landscaping company, “wasting time” maintaining the lawn may be a problem for your customer; but if possible make it more specific. For example, a particular problem may be a bad lawn. You can see the empty lawn – it’s hard to see “wasting time”.
Importances Of Business Plan For Small Business
You’ve identified the problem, now you need a solution. What specific action would you take to resolve the customer’s problem? This solution is your product or service. Don’t be afraid to customize your solution.
Returning to the landscaping example, your solution is to improve and maintain an unforgettable lawn. However, I urge you to take your next step.
Tip: If you are starting a new type of business, try testing your solution on a small scale without spending a lot of money. This test ensures that customers will pay for your solution. In business, a common saying for a struggling new business is that it “created a solution to a problem that didn’t exist.” Don’t be this business.
For many companies, their business model is simple. A product is sold or a service is provided and the company is paid.
Page Business Plan
You also want to define how and where your products and services will be sold. They will be sold in your business or office. Someone else’s shop or office? Do you want to enter e-commerce – on your website or on an online marketplace like Amazon?
During this step, you should also set your price – which basically means, how much will you charge? This can be difficult to understand. Consider downloading competing sites for pricing. You can call a competitor and ask for a quote.
Your target customers are your ideal customers. The worst possible answer from your customer is “anyone”. Even some famous companies did not start for everyone – Facebook is for students, Amazon sold books. Also, a common marketing saying is that if you’re “marketing to everyone, you’re not marketing to anyone.”
When thinking about who your customers are, think about demographics. Consider characteristics such as age, income, gender, interests and location.
How To Write A Business Plan For Your Small Business
When you are clear about your customers, your marketing strategy will also be clear – you will understand where and how to spend your marketing dollars.
List all the strategies you use to educate your customers about your business. As a new business, it can be challenging to reach and convince your first customers. How will you do it?
Personal communication and marketing for your business is usually more effective than online marketing. However, some online marketing is free and can have the ability to reach many people.
If you’re looking for local customers, consider claiming and promoting your free Google My Business (GMB) listing. Plus, once you’ve created your GMB listing, set up your free one-page website. Enough!
Amazon.com: Business Plan Project: A Step By Step Guide To Writing A Business Plan (entrepreneurship And Small Business Management (entrepreneurship And Small Business Management Collection): 9781606491102: David Sellars: Books
Before you can explain your competitive advantage, research your competitors – find out their strengths and weaknesses. If you know you can do better than your competitors, pick one or two areas where you know you can do better.
For example, if you notice they have negative online reviews, you can get exceptional customer service. In fact, your ad may even require it, such as a satisfaction guarantee.
Or maybe you can be faster than your competitors – “done in two days or less!” Don’t be afraid to call out your competitors and tell them why your business has the best “X”.
Part of the financial forecast is called startup cost – how much money you need to open your doors. For this fee, you simply list all the items and services you need to start your business.
Free Simple Business Plan Templates
When calculating startup costs, you want to estimate, rather than estimate, the amount. Often times, a new business owner may not be aware of some of the startup costs. If you underestimate your prices, you may run out of cash before you get your first customer.
Calculate how much your business will spend each month. Do the calculations for the first 12 months.
This may require investigation. You may need to pick up the phone and ask for a quote for things like real estate, utilities and insurance.
Now for the fun part – how much money you can expect to earn. How many customers do you plan to get each month in the first 12 months? You should have your prices in step with your business plan. Take the number of customers times the price to get an estimate of your monthly income.
How To Write A Small Business Plan 7 Essential Components
Depending on your business type, you can expect your customer base to grow every month. You can expect to get only a few customers in the first month – after 12 months, many new customers. However, no
What if the company doesn’t get the sales you originally predicted? Or a disaster like a typhoon or an epidemic? Does your business have enough cash reserves to get you through tough times?
Now that you have the amount of money needed to tide you over for six months, you can go out and raise money from different sources, such as:
If you want to create a comprehensive business plan after reading this guide, remember that there are different business plans. For example, if you are seeking funding from a bank or investor, you need to create a traditional business plan. Such a system requires more market research and financial forecasting.
Example Business Plans
Now that you’ve created your one-page business plan, don’t put it in a drawer to never be looked at again! As you develop your business, review your plan regularly.
It is best to track your income and expenses to see if your forecast is correct. Did you achieve your goals well? What works well or not? Use your one-page business plan to reflect on your current business situation and update it if necessary.
Blake Stockton is a staff writer at Fit Small Business, focusing on how to start a brick-and-mortar and online business. He is a frequent lecturer on business and MBA courses at the University of North Florida. Before joining Fit Small Business, Blake consulted and helped over 700 small business owners start and grow their businesses. Please update to the latest version.
Star Sellers has a solid track record of providing an excellent customer experience – they consistently receive 5 star reviews, orders are shipped on time, and they respond quickly to all messages received.
Creating A Business Plan For A Small Business
Simple Business Plan Template for Google Docs | Edible high quality small business planner online business download instantly
A star seller. This seller has consistently received 5 star reviews, shipped on time, and responded quickly to all messages received.
The product includes things like business information and business goals, target market and competitor analysis, S.W.O.T. and P.E.S.T. Research, product strategy and pricing, marketing strategy, operations and business management, financial summary and financial forecasting.
Change everything or use the template as is. Once you have filled out all the information, you can confidently share your business plan with investors, banks, advisors, consultants, and other stakeholders.
How Do You Create A Marketing Plan For A Small Business
The template is made with Google Docs and is full of instructions and quick questions to help you organize your business.
After making your purchase, open the instruction file you received via the instant download. Copy the template to Google Drive as shown and start making your business plan.
WARNING: If you copy and paste the link from the command file, you will see the message “Sorry, the requested file does not exist”. Please CLICK the link as shown to copy the template to Google Drive.
Pdf) Strategic Planning In Small Businesses: Process And Content Realities
Small business phone plan, small business retirement plan, small business 401k plan, small business insurance plan, small business health plan, small business safety plan, small business plan outline, developing small business plan, small cafe business plan, small business action plan, sba small business plan, small cleaning business plan