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    1. Justin_AP is offline

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      #1

      How to write a business plan

      Does every business need a business plan?

      I keep seeing people talk about having a business plan for ecommerce sites, wholesale business…but what if I am funding the business myself?

      If I’m not looking for investors, do I still need to write a business plan? Is it really that important, and if so, what all needs to go into it?
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    2. Hill_green's Avatar
      Hill_green is offline

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      #2
      Every business has to have a business plan if it is to succeed. Even if you are not looking for investors, you need a road map for your business in order to make it work.
      A business plan should include:

      • Mission statement
      o What is the purpose of your business

      • Business information
      o How is the industry fairing?
      o What type of products are you going to sell?
      o Shipping options, where you will do business, website

      • Suppliers
      o Are you going to use a dropshipper?
      o Manufacturer? Wholesaler?
      o Where will you store your inventory?

      • Marketing plan
      o How will you promote your business?
      o What is your competition like?

      • Financial resources
      o What is your startup capital?
      o Salaries, supply cost, shipping cost, promotion cost – all is included in this section

      That is just a brief overview of a business plan. A business plan can be anywhere from 20 pages to over 50, so be as meticulous as possible when constructing your plan.

      Write the business plan to suit your audience too. If you had to write for investors then you need to keep them in mind when you are writing.

      If you are just writing it for your business it doesn’t mean you can skimp on the numbers. Be specific and, once again, pay close attention to detail.

      You want to know how to make your company succeed and a business plan is the thing that will make you successful.
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    3. Justin_AP is offline

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      #3
      Can I pay someone to do my business plan for me?

    4. Josh_TheHawk is offline

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      #4
      Yes, you can hire someone to write up a business plan for you.

      It can be timely to research the market, competition, and figure out expenses. Just make sure that with whomever you hire, you get a contract that lists the services you require, payment, terms of completion, etc.

    5. Mosoon is offline

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      #5
      If you don’t want to waste time researching everything, consultants can be hired to explore available financial avenues and research the industry and competition for you.

    6. Matt0114 is offline

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      #6
      First, you are very lucky to not need the help of outside investors!

      I would think spending all of your own money makes it even more important to have a business plan. What are you going to spend money on? How much money do you need to make to gain a profit from the business you’re pursuing?

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      #7
      If you’re having a difficult time, you can find business plan templates online here: Business Plan Templates and Free Sample Business Plans - Bplans.com — Bplans.com

    8. AllenSch is offline

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      #8
      Really nice overview of a business plan Hill_green! Thanks for sharing.

      Remember, though, that if you update your business plan frequently, and you’re paying to have it done for you, you’ll be paying for multiple drafts.

    9. Justin_AP is offline

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      #9
      How often do I need to update a business plan? How much time should it cover?

    10. Hill_green's Avatar
      Hill_green is offline

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      #10
      A business plan should be updated at the start of a new financial quarter, as the business grows; as you add suppliers…it’s a game plan that must be closely monitored.

      There are business plans that cover a year and others that go up to five years. Different plans cover a range of time, but you’ll invariably need to revise and update them.

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