A business plan is an essential starting point for any entrepreneur taking their new venture seriously and hoping to succeed. It might not be easy, especially when you have so much to do, but knowing where to look for inspiration should really help. There are certain resources you can check for practical help and guidance, which should ultimately help you understand where your business is heading and how you’re going to get there. Here are some of the best ideas.
Read online resources
Looks like you’ve already started on the right path my reading our guide! Many websites collect articles and resources to help people in exactly your position if you’re starting a company and looking for guidance. If you can find a site dedicated to your niche, this will be even better.
Check government advice
There are plenty of helpful documents and guidelines available online directly from the government. For practical business information and instructions on how to follow policies you can check Companies House, and for assistance with the financial aspects of your plan such as taxes and employing workers we would recommend looking at the HMRC website.
Use the right software
As you may or may not be aware, specialist software exists for writing business plans. These programmes usually off a huge range of useful tools to structure your document properly and ensure you don’t miss anything, plus they allow you to actually use and follow your plan more easily instead of forgetting about it once it’s been drawn up. You’ll be able to find sample plans available too, which should give you plenty of ideas.
Practice through competitions
You can submit your draft plan into a dedicated competition for business plans, with several going on throughout the UK at any one time. Making a persuasive argument that your business should be supported by investors is always good practice, plus you can receive feedback from experts on how to improve. This gives you a great test run before you finalise your pitch and look for financiers.
Get local advice
Nobody knows your target market better than people in your area, if you’re starting up a local business. As well as conducting market research (this should be the very first thing you do!), you might benefit from actually hiring a business advisor who has experience in your area, and better yet in your exact niche. There won’t be anyone better qualified to help you set up a great business plan than someone who’s done the same thing successfully in the past.