Simple Business Plans Explained

Writing a business plan is not a quick process- it takes time to prepare well! Before you start writing, you must make sure your idea has potential to succeed and that you are prepared with all of the needed components.

Business plans can be tricky because they require you to include lots of different information about your company, but only so much space in a given amount of time. Therefore, it is important to know what types of elements should always be included in your business plan.

This article will go into detail about everything you need to include in your business plan, how many pages each element should take, and some tips for improving your business planning skills.

Organize your work space

After you have determined what business you will run, now you need to organize this business! This means figuring out where you will do your writing, how you will advertise for your business, and how you will keep in touch with customers.

If you want your business to succeed, you must be organized. You can’t expect to spend hours every day working on your dream if you don’t know where everything is!

You should also think about how you would like to structure your business. Do you want to start off as an independent writer and then grow bigger later? Or maybe you would prefer to build up slowly so that people get to know you first before they invest in your services.

Either way, make sure you have thought through all of the details early on.

Establish your company's structure

write simple business plan

The second important element to know as you begin writing down the business plan is establishing your company’s internal structure. This includes who will be in charge of what, how decisions are made, and who has permission to do things.

It also means defining roles and responsibilities for all departments that will handle various parts of the business. For example, marketing will spend time creating new strategies to spread brand messages while management oversees payroll, etc.

In addition to these formal positions, there may be someone in charge at any given moment. This can be an owner, leader, or manager of the business and it changes depending on the situation.

Write your business plan

write simple business plan

Now that you have determined what area of business or industry you will be in, write down the steps for starting your business!

Start by making a list of all the things needed to run your business. This can include equipment such as a computer or phone charger, files and notebooks, etc.

Next, make sure to check out if you need permission to start your business before getting too detailed with the next step.

Now, once everything is ready, go through your business plan from top to bottom and make sure it is logical and clear.

Get your business license

write simple business plan

Once you have determined that owning your own business is what you want, then it’s time to get your business license!

Most state governments offer at least one month of free business counseling through an agency or via online resources. This will help you understand the basics of running a business in our country so that when you are ready, you can start with little preparation.

After this initial period, many agencies charge around $100 per year for their services which may include helping you apply for your business license, offering advice about budgets, marketing strategies and even finding suppliers for your products.

These costs are usually covered by receiving some form of tax-related credit or discount, but understanding how to do your own budgeting is very important so that you don’t need outside assistance.

General tips: When looking into starting your business, make sure to look into the regulations set forth in your state first. Many states require you to be licensed as well as carry liability insurance before being allowed to open up shop.

Open a business bank account

write simple business plan

After you have determined what type of business you will run, your next step is to open an appropriate business banking account. This can be tricky because not all businesses are the same!

Just like individual people have different needs when it comes to savings, credit cards, etc., business need similar accounts depending on their purposes.

Business checking accounts allow you to do things such as spend money on expenses, run payroll, and invest in more expensive equipment or marketing materials. These types of accounts are very common for most small businesses.

Most large banks offer business loans so this is definitely not a worry. However, it is important to look into the terms of those loans before getting one. Make sure there are no additional fees that apply per loan, etc.

There may also be minimum balance requirements for access to these services.

Prepare your business tax return

write simple business plan

This week’s task is to prepare your business tax return, including completing any extensions or additional paperwork that may be required.

It’s very important to do this as soon as possible after the end of the financial year so all money has been accounted for and taxed correctly.

We can help you with this, call us today at The Tax Office in Guildford on 01825 505000.

Create a marketing plan

write simple business plan

A business plan is not only to determine what you will do with your life, but it also helps market your business! Having a business plan gives you a tool to evaluate your business and makes sure that you are staying within budget by clearly outlining everything you need to launch your company.

A good way to start writing your business plan is to first make a list of things your business does. This can be anything from selling products or services, to producing videos or posting content on social media sites.

Next, think about how your business will gather the needed materials to fulfill these tasks. For example, if your business produces new fashion designs, you would look for fabrics and clothes to add to your collection.

After this, brainstorm different ways to promote your business. Creating an eye-catching website? Maintaining social media accounts? Writing a short article about your product or service?

Last, take all of these steps and organize them into categories to create an easy to follow process to write your business plan.

Develop your company's website

write simple business plan

After you have determined what business to go into, now is time to develop your company’s website. This will be your first impression of the public!

You should know who your target audience is already before you start designing and developing your site. Are there any specifications that your product or service requires? What features make your product stand out from the rest?

Your website needs to include these things as well as pictures of yourself and your team members, all of the products, and links to each other’s pages.

Running a website can become very expensive so it is important to source cheap web hosting that is reliable and trustworthy. There are many ways to do this; some free, others less than $10 per month.

But no matter which one you choose, make sure you look for one with lots of tools available to edit and manage your website. These tools should be easy to use too!

These things will help you begin building your online presence quickly and easily.

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