Business Planning

The right planning increases your awareness of your market. It helps you master your finances and stay competitive while you build your skills, resources and confidence.

Many successful business owners when they started their business have used two widely-accepted planning tools, the business plan and the marketing plan. The plans combine rigorous self-assessment, financial prediction, customer and market research, product or service development, and organisational plans of action. They are very likely the two most useful and important documents you will write as a new business owner.

Get the help you need

Business and marketing plans differ greatly from business to business and can be difficult to write if you've had no experience with them. Always seek professional advice from qualified commercial, accounting and legal sources prior to making important financial or business decisions. The Find an Advisor service (see Helpful Online Tools) can help you find an adviser in your area.

Writing a business plan

It's important to write a business plan before you start a business because:

• it’s a way to test or gauge if idea can work in a market without financial risk
• it’s a good way to work out what you’ll need to get started, i.e. money, time 
• you’ll need one if you're going to borrow money or get others to invest in the business
• it will prompt a lot of questions you may not have thought of, and when you need to get expert advice from others 
• if you're going into business with others, the business plan will help keep you and your partners on the same wavelength on where you want the business to go  

You can amend this template for business plan to suit your needs.

	Business Plan Template (DOC 780Kb)
	A generic business plan which can be adapted to suit your business's needs. Please save to your computer and ensure your macros setting is turned on.

Tell us what you think of this template.

Business Plans & Checklists Look for a different business plan template on Business Victoria’s Business Plans & Checklists online library. You will find templates from a vast range of websites, rated and reviewed by industry experts and small business operators. These include templates from banks that are built to assist you in getting a bank loan.

Writing a marketing plan

Working out how your marketing strategies will fit together is an important part of planning your business. A marketing plan lists your key marketing strategies and explains how each one will work, how much they will cost and how the strategies support each other. Things to consider when writing a marketing plan are:

• price: will you price as a quality item, or try to undercut the competition, or encourage bulk buying ('buy one get one free')
• advertising: will you include the internet, print or other media?
• direct marketing: will you contact by mail, email or phone?
• public relations: should you have a public launch or press release, or sponsor a community group?
• trade shows or events: how will you assess customer interest?
• customer service: how can you be assured of good word of mouth (money back guarantee, customer loyalty club)?

	Marketing Plan Template (DOC 266Kb)
	A generic marketing plan which can be adapted to suit your company's needs. Please save to your computer and ensure your macros setting is turned on.

Getting business finance and loans

Getting business finance - if you decide you need it - depends on your ability to convince a lender. Lenders consider a good business plan and marketing plan as basic requirements for a loan application.  Banks and other lenders offer a range of business loans including overdrafts and lines of credit. Use the Business Loan Finder (see Related links) to find and compare business loan options.