For the Business Plan Averse

Even a small business or solo business needs a business plan. My own business plan, which is only a few pages long, clearly lays out what I want my business to be and also how it fits into my life. A previous article listed some groundwork (the Ideals) you may want to work on before your start writing your business plan.

The following are areas to address in your own solo-preneur business plan.

1. What is the business, a brief description. This should clearly define what your business does. Include your mission and vision.
2. Who does your business serve? Who is your target or ideal customer or client?
3. What is your role in the business? Where will you need help?
4. When does your business take place? For example, how many hours are you willing to work, what days, how many weeks per year, is it seasonal or on weekends only, etc.
5. Where will your business take place? From home, an office, traveling, etc.
6. How will your business be run?
7. How will you market your business? Traditional direct mail, Internet, in person via speaking engagements, paid advertising, etc.
8. What operations will you do versus what you will hire out or delegate?
9. If your business is a service business, what services in what areas will you perform?
10. For both services and products, how will you produce, sell and deliver these?
11. What is your financial situation now and in the future? Plan for cash flow, capital. Set goals for both income and expenses. State your philosophy about debt and managing money.
12. Size of business, when and how will you know it is time to expand, hire help, get further funding, change directions, etc.

Your business plan is a living document. It will evolve as your business grows and changes. You may stick very closely to your plan or yours may grow more organically. But either way, you need to have a plan from which to create your actions. Don't be surprised if you change your business plan several times in the first year or two of your business. Things often go in a different direction than that envisioned.

All blog content is copyrighted, all rights reserved, Mary Anne Fields and Life Unfolds, 2006