Planning is a key tool to any business when just getting started and when planning to grow. It becomes essential to review your business plan to ensure business activities are meeting business needs.
A business plan is a guide – a roadmap for your business that outlines goals and details of how you plan to achieve those goals. Developing a business plan may seem scary and overwhelming but keep in mind that it does not have to be a long and formal document, like a college thesis. This process is much less daunting than it used to be. When getting started be prepared to keep it concise and short. By keeping it short than you are more than likely to reference back to the document when it comes time to make changes and refine it over time.
If you know your business and are passionate about it, writing a business plan and then leveraging your plan for growth will be easy breezy. Think about it like this, if you have ever jotted down a business idea on a napkin, in a journal or as a research paper with a few task to be accomplished, then you have written a business plan, or at least a very basic one.
As a new business, a business plan can help you clarify meaningful pieces, like expense budges and tasks. Existing businesses will use a plan to help manage and steer the business. Business owners may use a plan to reinforce strategy, manage responsibilities and goals or plan resources including cash flow.
Now it is time for you to jump start your plan:
1. Executive Summary
This is an over of your business and your plans.
This provides a quick review of the company’s legal structure and location, as well as some background on the company’s history.
3.Products and services
This will bring clarity to what you will be selling and how are you solving a problem.
This will outline who you are selling to.
5.Marketing and sales plan
This will describe how you are going to reach your target market.
This will provide a financial forecast to your business. Will include monthly projections for the first 12 months and then annual projections for the remaining three to five years.
If you do not plan in your business, you are planning to fail! Our firm can support your business with the initial development or revision of your business plan. Let us know when you are ready to get started!
You can schedule your no obligation consultation with us today.
Hello, I'm Terra the Founder and Marketing Director of Fontenot & Associates Solutions. Thank you for joining my Accounting world. Our blog's purpose is to teach with the determination of closing industry and accounting process gaps that knowingly exist with our uniquely designed detailed procedures and trainings.
My mission is to offer the best accounting results for all companies seeking to close their process gaps with actual solutions. With my Bachelors and Masters Degree in Accounting, I strive for continuous development and professional growth in this profession. My professional career has been in the Oil & Gas industry for nearly the past 10 years but my business focus is to support and train accounting professionals in all industries.