21Mar
So you want to start a business. Or maybe you’ve started a business already. That’s good. You have joined the ranks of about 125 million small businesses worldwide. In the United States alone, small businesses make up 62% of all businesses.
The best thing to do at this point is devise a written plan. There are 3 main reasons to create a business plan document: 1) you have to think through your concepts and goals; 2) you have a standard for your operations that you can revisit as-needed; 3) you have a professional document that can be presented to a bank, investor, landlord or other potential professional connection.
Most professionals contract a professional business plan writer to format their document per industry standards. Whether you create the document yourself or contract someone else to do it, it is healthy for you to complete the following top 6 business plan necessities.
Everything else is simply icing on the cake.
Example: At Transaxtion Advisory Services we offer consultation, writing, business planning and financial services to businesses and individuals worldwide.
Try to boil down your concept summary to the smallest ideas. You might need to complete the following 5 sections before being able to succinctly express your business concept.
Example: Transaxtion Advisory Services is led by Founder Gregory Bair, who holds a MBA from Washburn University and has worked in capital funding for over 20 years. The company’s production personnel include Jessie Chipchase Ehl, who graduated with a BA in Communication, Film Emphasis from the University of Missouri-Kansas City and is an experienced writer and researcher.
Feel free to include all potential personnel in this section. It is even common to list advisors here.
Example: Transaxtion Advisory Services offer the following products and services:
Include any current product/service and future products and services.
Unless you have a lot of experience in crunching numbers, you may want to consult a professional to help complete this section.
This section should require some research. Look online at potential competitors and their customers. Talk to your professional network. The more you know about your potential market, the better you can offer products/services that will be purchased.
Don’t stress out about your goals. Start with the basics instead – how many employees do you expect to have in the first 6 months, year, 2 years? What is your target revenue for the first 6 months, year, 2 years? Build your goals from here.
Your business is your business. Success is based on how you view it, not anyone else’s opinion. But to achieve success, it’s best to have a plan. By writing out summaries of your concept, business, product/service, financials and target market, and articulating clear goals for your business, you are giving your company a roadmap to conquer your dreams.
“The USI team was very professional and insightful. They made the process easy and answered all of my questions. I would definitely recommend USI to anyone.”
“The work completed by US Insourcing shows they are veteran SME consultants. They delivered a completed and well researched document. Thank you!”
“They did an amazing job. Delivered a complex and functional financial model for use by our organization.”
“The USI firm is led by very knowledgeable and experienced consultants. I would highly recommend hiring them to assist you with your business plan project. ”
”We asked the USI Digital team to assess our marketing potential and whether social media or pay per click would be more beneficial. They first spent time researching the market and costs and then came back with a workable plan. Well Done!!”
