business plans. a business plan enables you to work out the viability of your business a business...

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Business Plans Business Plans

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Page 1: Business Plans. A business plan enables you to work out the viability of your business A business plan enables you to work out the viability of your business

Business PlansBusiness Plans

Page 2: Business Plans. A business plan enables you to work out the viability of your business A business plan enables you to work out the viability of your business

A business plan enables you to work A business plan enables you to work out the viability of your businessout the viability of your business

A good business plan is like a map, A good business plan is like a map, helping you to find the best path to helping you to find the best path to achieving your goals.achieving your goals.

Setting business goals helps you to Setting business goals helps you to use your time and resources more use your time and resources more effectively.effectively.

Page 3: Business Plans. A business plan enables you to work out the viability of your business A business plan enables you to work out the viability of your business

Business plans involve:Business plans involve:

Your business plan involves developing Your business plan involves developing many things including:many things including:

Business goalsBusiness goals A management planA management plan A marketing planA marketing plan An operating planAn operating plan A financial planA financial plan An action planAn action plan

Page 4: Business Plans. A business plan enables you to work out the viability of your business A business plan enables you to work out the viability of your business

Contents of a business plan…Contents of a business plan…

A typical business plan contains:A typical business plan contains: Mission StatementMission Statement Vision StatementVision Statement Business GoalsBusiness Goals Management PlanManagement Plan Market Research and AnalysisMarket Research and Analysis Marketing PlanMarketing Plan Operational PlanOperational Plan Financial PlanFinancial Plan Action PlanAction Plan

Page 5: Business Plans. A business plan enables you to work out the viability of your business A business plan enables you to work out the viability of your business

Before writing a business plan…Before writing a business plan…Before you commence your business plan Before you commence your business plan

you should investigate and consider many you should investigate and consider many factors. These factors include:factors. These factors include:

What is the size of the business market?What is the size of the business market? How does your business compare with the How does your business compare with the

competition?competition? How will you reach your target market?How will you reach your target market? How will location effect your business?How will location effect your business? Is the state of the economy likely to affect Is the state of the economy likely to affect

your businessyour business

Page 6: Business Plans. A business plan enables you to work out the viability of your business A business plan enables you to work out the viability of your business

Continued…Continued…

Will the current economic trends affect your Will the current economic trends affect your business and your customers?business and your customers?

Do you have the required skills, experience or Do you have the required skills, experience or education to manage the business?education to manage the business?

Do you have the health and stamina to manage Do you have the health and stamina to manage the business?the business?

What is the market size?What is the market size? Can you acquire the necessary supplies? Eg.. Raw Can you acquire the necessary supplies? Eg.. Raw

materials, equipment, technologymaterials, equipment, technology

Page 7: Business Plans. A business plan enables you to work out the viability of your business A business plan enables you to work out the viability of your business

Your Task….Your Task….

You need to follow the link and You need to follow the link and answer the questions which are answer the questions which are found on the wikispaces website. found on the wikispaces website.

http://http://www.smallbiz.nsw.gov.au/smallbusinwww.smallbiz.nsw.gov.au/smallbusiness/Starting+in+Business/Business+ess/Starting+in+Business/Business+PlanningPlanning