Our six-step guide can help you put together a robust business plan and set you up for success or expansion
Do's and don't when writing your plan
To build a successful business, having a clear mission and specific goals is vital. The best way to do this is to write a thorough business plan setting out exactly how you're going to turn your dreams into reality. To help you get it right, we've come up with the key dos and don'ts when it comes to business planning.
Start with an executive summary. This should be one page long and is your elevator pitch on paper
While it's important to show ambition, be realistic when projecting your results
There's always competition, the key is understanding your market and convincing your customers that your product is superior
Make sure all research is up to date and accurate, and that any claims can be substantiated. You need to be aware of the good, the bad and the ugly!
Your business plan is about the company you intend to run, not ones you may have run in the past. A link to a completed LinkedIn profile will tell someone all they need to know about you
It may be an old cliche, but you only get one chance to make a first impression. Make sure you triple check the accuracy of your content and ask a colleague or mentor to proof read it with a fresh pair of eyes