Why A Business Plan Should Be Your First Step
Category: Business Planning
Tags: business plan, business plan steps, first business plan
So you have decided to start out and grow a small business in Canada! First of all, a huge congratulations! Even the fact that you are reading this now and doing your research ahead of time is a sign that you are headed towards great success! So as of now you probably have a great business idea, maybe even a registered name with the government, and are eager to get started. There is nothing stronger than an entrepreneur’s spirit and drive, especially when just starting out.
But before you do anything. Before you begin sales, begin building your product, and hiring people, there is one thing you need to do. Create a professional business plan. There are many entrepreneurs that would rather just dive in and get started without a business plan. They may say:
“I have been in business for years, I know how it goes, I don’t need a plan!”
“A business plan will just slow me down, I need to get started now.”
“I won’t even follow the business plan because the field I’m in is so up and down!”
“It will be a huge waste of time, can’t we get to the fun part?”
These have been said countless times, but if you ask any successful entrepreneur in Canada, they will tell you that planning is the key to success. A business plan will point your company in the right direction and allow you as the owner to have an even more detailed grasp on what your company is.
A business plan is made up of the follow parts:
A Mission Statement
What Your Business Is Exactly
Who The Team Is
Your Short Term Goals
Your Long Term Goals
A Detailed Budget
An Outline of the Current Market
What Separates YOU
This is a general outline and can be tailored with more or less items. The main thing about a business plan is that anyone, without knowing you, should be able to pick it up, read it, and fully understand what your business is and what you offer. It should be simple, straight forward, and straight to the point.
The reason a business plan is your first step, is you need a set of goals and a mission in order to help you in decision making. Every single decision you make for your business is an important one, and all of them should point towards your goals. If all of your employees and partners have the same goals for the business in mind, it will run like a well-oiled machine.
The business plan builder tool we have will help you immensely in creating this integral first step to growing your business. You simply will have to enter in a few bits of information and we will create the look and wording for you, to make sure you don’t miss out on any aspect of a business plan. We want you to succeed and we want your business to thrive.
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