How do I start my business plan?

[carolb]

I am about to start a plan for a new venture.

Where do I start?

Thanks

[peterjhale]

An incredible question !

Before you begin your planning you'll need to gather some information that will help your decision making. You'll need :

> The customer need your product or service is going to satisfy
> The demographics of these customers
> The number of these customers that are in your catchment area
> Your anticipated competitors' background, marketing materials and pricing
> Issues in this market (opportunities and threats)
> Information about you and your team (what do you do well - and not so well)

Once you have gathered this you can start your planning journey to say what you are going to sell to whom and why you are going to be successful.

Trust this helps

Peter

[james]

Yes, the thought behind who's going to buy your product I think is the most important.

If you dont have any customers...well.

Put the cart before the horse. Work out the need first THEN put your product together

J

[theplanner]

You really do need to sit yourself down and really work out:

- a profile of your customers
- their need
- where these customers are
- the product/service to target to them
- how to communicate to them

[louise]

Also, I put together a little spreadsheet to try and forecast my sales quickly.

I soon found out that this didnt really cover my costs so had to sell more and add additional products

A good way to find out if you're going to make it

Lou

[carolb]

Thanks everyone - I'm on my way - will let you know how it turns out

[james]

Glad to be of help Carol

J

[peterjhale]

yeah - let us know how you get on

[carolb]

Hello

Yes, I actually used your business plan express and went to my bank yesterday and hey presto, got the loan.

So thanks very much for everything

[theplanner]

Well done - let us know how your business progresses