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ImportantFor a new business, a business plan helps improve your chance of securing financing and investment. Established businesses should review their business plan and update it regularly in order to provide direction for growth.
Use our free business plan and one page action plan templates
These templates will help you to create a business plan easily. The one page action plan helps you to take quick action on goals that you have set.
What should your business plan cover?
A clearly written plan should cover:
- an overview and vision of your business
- your product or service offering
- how the product or service will be developed and produced
- an analysis of your market
- your competitive advantage
- a marketing plan to develop your marketing strategy including promotion, advertising and public relations and finding customers online
- your business structure
- how your business will be managed
- an estimate of costs, your cash flow position, your margin, markup and breakeven point, and a calculation of your profit and loss
- an action plan to take action on goals.
Case Study: How to make a business plan for your personal training business
'When I started developing the business idea, I also created a list of pros and cons. The pros were to do with being in control of my time. The cons were around having to rely on myself for everything.'Anastasia Wolf, Cheeky Challengers. Read more on How to make a business plan
- Do market research
- Do your own books
- Attend a business planning workshop
- Small Business Mentoring Program