Whether you are a new start up or a seasoned entrepreneur, you should have a plan. Many of the clients we speak with enthusiastically nod in agreement with this statement but, when asked to see their business plan, they just smile, point to their head and say, “It’s ALL in here!”
Well, how many of you can tell me what you had for lunch last week or, more importantly, how much you have budgeted for your next marketing campaign. Do you know the details of your next marketing campaign?
Without a plan, things just tend to happen. You don’t control your business, you just react to your surroundings. This can be costly and time consuming. You need a formal plan, whether that is a business plan, marketing plan, strategic plan or succession plan, you need to formally write one down.
Here are some tools to get you started:
- SBA.gov – This site has an online tool that will produce the shell of a business plan for final edits.
- Census.gov – Narrow down your market, quantify the potential market and find niche demographics within your geographic area of influence.
- BizStats.com – This site will help you benchmark an existing business or more precisely project your sales growth and expense trends. Competition information is also available from this website.
Need help? Email us with your questions and we will get you started on the right path to solid business planning.