This 12 Days of Start Up series aims to provide you with all the information you need to get on the right path to self-employment. Starting a business can be like climbing a mountain, it may look daunting from the bottom but focus on one step at a time and you’ll soon be at the top. Past days can be found here.
You wouldn’t build a house without a blueprint, so don’t start a business without a plan. A professional well thought out business plan will not only provide your start up with a clear direction and contingencies in the case of unexpected events but it can also be vital in securing investment.
A business plan is not just about securing funding at these early stages; it becomes an important aid to helping you manage your business more effectively. By committing your thoughts to paper you can understand your business better and chart specific courses of action that need to be taken in order to improve.
Your plan should include a strategy for marketing and sales. The best ways to reach your customers based on your market research and this should form the basis of your sales and marketing plan.
A business plan should not be overlooked as there are so many ways in which a plan will guide you. The importance of a good business plan cannot be overemphasised. Above all else it will help you allocate your resources properly, handle unforeseen complications and make the right decision.
If you need help starting yours or you would like some advice on the one you have currently please give the Start Up team a call on 0191 516 6149 or click here. Our experienced advisers are here to help.