Once you've conducted market research into the feasibility of your new business, you're ready to write a business plan. A business plan is essential to your business it is something that all businesses should have and yet most do not.
More often than not your bank will require a copy of your business plan when you are seeking business finance.
Murray Nankivell will work with you to document what most business people carry around in their heads and then help you fill in the gaps, leaving you with a clear strategic direction for your business.
Your business plan could include such things as an:
- Executive summary: a one-page overview written after your business plan is finalized
- Introduction: explaining the purpose and objectives of why you are going into business
- Marketing analysis: looks at the industry that your business is entering into and how you fit in
- Marketing plan: your marketing strategy
- Operating plan: how you will set up the business, i.e. structure, location, regulations. You can find out more about business structures on our business structure page.
- Management plan: how you'll manage your business
- Financial plan: how you'll finance your business, costing and financial projections
This business plan list is not exhaustive and really depends on your industry, but it is a good start. Business planning is an ongoing activity. You should regularly review, update and revise your business plan.
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