The purpose of your business The first part of your business plan should detail the reason for your business — its purpose. You may have locations spread out across New Zealand or the world if you export. Where the opportunities are for your business — are there gaps in the market that you can exploit with a new product or service?
But until these dreams are converted into a strategic plan with goals and objectives, they will probably not become a reality. Developing a business action plan is the way to turn the owner's ambitions into reality, and finally, into more money in his bank account.
Let's suppose you have a store selling roller skates. Setting a goal to "increase revenues" is vague and not specific. A better goal would be to "increase sales of outdoor skates by 12 percent.
Goals must have a way to report a measurable number. For example, the goal to increase sales could be tracked with weekly sales reports. Employees have to be convinced and believe that the goals are attainable.
If the employees do not think that they can reach the goals, they will not even try. Your people may not believe that they can increase sales by 25 percent but increasing sales by 12 percent seems doable.
Goals must be created that conform with the business model and the demographics of the customers. It would not make sense to set a goal to sell refrigerators if your main business is selling surf boards.
Goals must have deadlines. Increasing sales of outdoor skates by 12 percent in the next six months is specific and timely.
The next step is to convert the goal to "increase sales of outdoor skates by 12 percent in the next six months" into an action plan. How to Achieve the Goal Each goal must have an outline for the process necessary to achieve the goal.
The first objective is to increase the number of prospective buyers coming in the store. In the case of selling more outdoor skates, one step may be to do more advertising in print and on television about the wide choice of outdoor skates that the store has in stock.
Another step could be to email the store's list of customers about an upcoming sale on outdoor skates. What Resources Are Needed If the company will use advertising to drive more traffic into the store, how much will it cost? How much money will be needed for the total campaign? Effective advertising requires repeating an ad several times before it has the desired effect on the consumer.
All of this costs money. The action plan should define the amount of money needed, the number of people required and any physical assets that will be necessary.
Who Is Responsible To achieve a goal, someone must be held accountable. It could be more than one person or even a department. In any case, the employees must know what their goal is and when it should be attained.Alphabetized list of free business plan templates to help start a business, service of US Small Business Administration & Small Business Development Center.
Writing a business plan should force logic and discipline into a business. 5. A good business plan is a living document. It should be updated regularly.
2 Title Page Your Company Name Street Address City, State & Zip Code Phone Number E-Mail Address Web Address Business Plan. A business plan is a crucial activity for any entrepreneur or business owner looking to start or expand their business.
Without a plan a business is likely to fail or stagnate. BizConnect provides a Free Business Plan template that asks all the right questions so that you can start thinking about important business aspects such as: ncludes.
Learn how to write and format a business letter to convey important information in a professional way using tips and a business letter template from Xerox.
Write a business plan that’s right for your business. As tempting as it is, don’t just cut and paste from a sample plan. Any banker or investor will be able to tell from . Get Professional Legal Documents for all of your Business Needs.