Setting Up The Basics For Business - 10 Steps To Your Business Plan

I started blogging at the beginning of the year about how I have set up my business, didn't really get into detail of all the technical and planning stages - but that's probably because I got too busy too quickly and neglected some key areas that I am going to talk about today! 

Your Business Plan
The basics of basics! You need a business plan :) If you are like me, you might think "That's a bit technical and I know what I want to do" or, "I'm not planning on running a massive company" but I promise you, your business plan will set you up for a whole year, maybe even 3 years if you go into that much detail! It will eliminate a lot of stress and help you remember exactly what you set out to do in the first place when you start to feel a bit lost or not sure if you are doing the right thing. Of course you can and should update your business plan quite regularly to keep it relevant and up to date. 

Your business plan should cover:

1. The basics such as the business name, contact, branding etc.
2. Your vision for the business - what do you want to build?
3. How you are starting off, what is your current situation?
4. Who are your competitors? Really study and analyse them!
5. Who is your target audience? Really go into detail here about their age, where they live, what they do for a living, what they do for fun etc. 
6. Your marketing plan/objectives
7. A 3-5 year forecast and monthly targets
8. Include some possible sales pitches based on all your data
9. Cash flow forecast
10. Goals for personal growth

I started my business plan in April - but did not complete it! I just put it on my to do list and never got round to it. This last month has been a real struggle (hence the lack of blogging!) And I soon realised that it's just because I got a bit lost along the way and if I had my business plan, I would've had constant guidance. So this week I am putting everything on hold and going back to my business plan :) If you have not yet put a business plan in place I strongly recommend you take this step with me this week - don't leave it until you realise how much you need it! 

There is a great workshop available for those living in or near Cheltenham that focusses on setting up your business plan! I attended this workshop as I was completely clueless as to what a business plan was and why I needed it! I was really surprised at how detailed it was and how much planning goes into starting up your business! The Women's Business Club Clarify Workshop is a full day workshop which not only teaches you about the business plan, but also helps you to write it! By the end of the day you should leave the workshop with a completed business plan or at least an outline to start you off :) I highly recommend this workshop as I have never seen anything like it and the help and support you receive is really valuable. 

Next week I will continue writing about Setting Up The Basics For Business as I go back and finish what I started. So please stop by again next Wednesday! :)

Life in the Photography Business | Photography by Lorah Kelly | Life as Lorah Kelly

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