When writing your plan keep these important pieces front of mind.
What do you need to make to be profitable and how will you make the money? What do you need to start and make sure you have cash flow to keep things running early days. How much will your stock cost you versus what you will make off the products or service you sell. It is important when looking at finances you take in to account everything it will take you to run your business everyday such as electricity,rent,wages,stock and all of that together which will then allow you to work out profit above costs.What you need to make per day versus what you will make in customers and the difference is your profit!
Point of Difference
What is your point of difference, there are probably thousands of businesses like the one you are starting or have already started but what MAKES YOU DIFFERENT. So in your plan think about what you are going to do different to others in the area and what do you have to offer that others don’t. Maybe make your slogan your point of difference so it is clear for everyone doing business with you why you are different.
Why have you started your business? Is it for lifestyles changes are you chasing a dream. If so keep this front of mind everyday because in business there will be tough days, weeks and months but remember why you started in the first place and plan your business plan around these dreams/goals.You have to enjoy what you are doing so make your business plan all around achieving your goals.
Know your Market and Industry
Always have a clear plan around market trends and high/lows. Every industry has peaks and troughs, so know these and know why they happen so you can combat them. Work out what to do in the quiet periods and also ride the wave when the industry is on the high.
Good Luck with Planning.
Yours in Partnership,