getting started

How to write your business plan

When you’re starting a business, your business plan is the most important tool in your toolkit. It can help support your business case when applying for finance, looking for investors or future employees. It’s worth investing a bit of time to create the right business blueprint.

Here are three steps to help you get started.

1. Download a business plan template

There’s a lot to do when you’re starting your business, and the great news is you don’t need to start from scratch with your business plan. Use our business plan template as a guide so you know what to include and what your business plan should look like.

2. Give yourself a planning day

Clear your schedule for a few hours or even a whole day to give yourself some time to really think about your business. Having this time can really help you to clarify what you want to achieve from your business, so you can create a business plan to take you into the future.

3. Think about your business from an outsider’s point of view

If you need to borrow money or are looking for investors, your business plan will need to convince others that you not only have a great idea, but a viable business solution.

To create your business plan, you need to answer these kinds of questions:

  • what product or service will you be selling – and why?
  • what types of customers are you looking to attract?
  • what kind of challenges or problems will your product or service help them to address?
  • how will you sell your product or service? How will people find out about your business?
  • how will you create your product or service and provide it to your customers?
  • what do you want the future to look like for your business? As you grow, will you need to employ people to help you, or rent office space, or spend money on marketing and advertising your business?

Once you have your plan in place, it’s a good idea to schedule time to revisit it every three to six months. This way, you can check that you’re on track or develop your plan further to address any weaknesses and identify new opportunities.

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