Ideas on Business Planning
WAIT!!! Don’t Get Overwhelmed!
The idea of creating a business plan sends most people into a tailspin! I know it did me! I was overwhelmed when I first started researching about this thing called a business plan that everyone said I needed.
As you can probably imagine, there is PLENTY of information available on the Internet on business planning. Before long, I had accumulated piles of website URLs, sample business plans and worksheets.
I had all the information I needed but where did I start?
Although I am a fairly organized person, this was WAY TOOO MUCH INFORMATION!
Here were just a few things I found was necessary when I began my business plan:
- Mission Statement
- Vision Statement
- Company Summary
- Start-Up Summary
- Product/Service Description
- Market Analysis
- Market Segmentation
- Industry Analysis
- Strategy and Implementation
- Sales Strategy
- Management Strategy
- Financial Plan
I don’t know about you but my head was buzzing! All I wanted to do was to start a small business doing what I loved! Where did all this other stuff fit in?
Yes, It took me some time, but eventually I was able to complete everything. This plan really did set me up for success, making my goals crystal clear.
Ladybug Wreath’s will be publishing blogs diving into the individual points above in the upcoming months so you can learn how to make a business plan too!