Basically, i read this article for several days before at The National Bank of New Zealand website. The original title is the same title what you see above. I don’t even have a sense of business actually, I hope this article will be useful for you.
Okay here comes the conclusion..
A busines plan develop because it provides an essential map to get you to your business destination. This show how you can prepare a simple but effective plan that will function as an ‘action template’ for your business.
Can you prepare a plan yourself?
The secret is to keep the plan short and simple, some people use bullet points to make all their plan compress into A4 paper. Of course, it is only your way to make it simple. This idea needs to be revisited and updated as long as time changes and market move from one demand to other demand.
Sharing and brainstorming
You have a staff? Let them know your ideas of business planning process rather than impose what you plan/thought upon them. Set time and place where you can work undisturbed by distractions of everyday business. Cafe may be one of your alternative. If your staff agrees on the strategy and targets, the changes of success are heightened.
<This part bellow, I copy paste at all>
Benefits of business plan serves as roadmao to guide your business towards your business objectives and vision. The six main benefits are:
1. It encourages you to think through your ideas and exposes possible shortcomings that you need to address.
2. It gives your business a sense of direction and action timelines to reach desired targets
3. It help build commitment because you have publicly announced your objectives
4. It allows you and your staff to measure progress towards targets, which leads to a shared sense of achievement
5. It builds credibility and convinces others (including lenders) that you know what you’re doing and where the business is heading
6. It enables you to perform better than you would without a plan. Research shows that business that undertake regular business planning have higher profit margins than those that do not
So business plan can be effective competitive advantage that enables you to outperform similar business without plan.
That’s all I copy modify and pasteing from National Bank of New Zealand. I dedicated to my friend: Mukti, several time ago he was confuse about how to build or write simpole business plan.