{"id":3419,"date":"2019-10-07T13:46:37","date_gmt":"2019-10-07T11:46:37","guid":{"rendered":"https:\/\/www.dazzlepop.net\/site\/?p=3419"},"modified":"2020-06-04T11:13:07","modified_gmt":"2020-06-04T09:13:07","slug":"how-to-craft-a-solid-business-plan","status":"publish","type":"post","link":"https:\/\/www.dazzlepop.net\/site\/how-to-craft-a-solid-business-plan\/","title":{"rendered":"How to craft a solid business plan"},"content":{"rendered":"
\"How<\/div>\n

Ambition workshop: how to craft a solid business plan<\/p>\n\n\n\n

When CGU<\/a> Insurance launched its ABN<\/a> Rescue campaign – in a bid to get small businesses back on track – Mendes saw the call-out, and asked for help. Photograph: CGU<\/p>\n\n\n\n

The words \u2018business plan\u2019 can be overwhelming. You might have visions of a 40-page document full of jargon. But experts say it\u2019s better to keep it simple and learn as you go<\/p>\n\n\n\n

Planning is vital to business success. Without it, you won\u2019t know whether you\u2019re meeting your targets, achieving your goals or setting yourself up for future growth. But creating a business plan can be daunting.<\/p>\n\n\n\n

Thea Mendes started her small enterprise, DOMUTS, with her son in 2017, selling chicken-flavoured treats to dogs. She says she had a spontaneous approach to the business.<\/p>\n\n\n\n

\u201cI didn\u2019t step back and formulate a business plan or develop goals that I wanted to achieve,\u201d Mendes says. And while she had some success, ultimately the business\u2019s ABN, like almost half a million others in Australia in 2018-19, was allowed to lapse.<\/p>\n\n\n\n

When CGU Insurance launched its ABN Rescue<\/a> campaign – in a bid to get small businesses back on track – Mendes saw the call-out, and asked for help. Now, DOMUTS is getting back on its furry feet.<\/p>\n\n\n\n

CGU Insurance saw the potential in DOMUTS and Mendes\u2019s application was successful. With the help of a business adviser and marketing expertise, she is now equipped with a business and marketing plan, and a clear way forward.<\/p>\n\n\n\n

\u201cThey provided me with my business mentor, David Stefanoff,\u201d Mendes says. \u201cHe has helped me formulate a clear business plan with specific milestones to hit to then know when we can scale the business further.\u201d<\/p>\n\n\n\n

If your great idea needs a kick-start, we have the tips you need to craft the ideal business plan.<\/p>\n\n\n\n

1. Only include what you really need<\/h2>\n\n\n\n

Business plans don\u2019t start life as thick tomes that no one reads, and yours doesn\u2019t have to become one. Be choosy, and only write down what\u2019s really important.<\/p>\n\n\n\n

\u2022 A business summary
<\/strong>As the name suggests, an overview of your business and what\u2019s included in your plan.<\/p>\n\n\n\n

\u2022 The big picture
<\/strong>Your business purpose – sometimes called a vision statement<\/em> – with goals, milestones, ambitions and objectives.<\/p>\n\n\n\n

\u2022 Information about your business
<\/strong>The nitty-gritty details about your business: who is in it, how it\u2019s structured, what it does and where it lives.<\/p>\n\n\n\n

\u2022 Details about what you\u2019ll do
<\/strong>The fun stuff: who your competitors are, how will you market yourself, what your customers look like.

\u2022 Making the costs work
<\/strong>The not-as-fun stuff: how much it will all cost, projections, details of any loans, potential turnover.<\/p>\n\n\n\n

2. Keep it simple<\/h2>\n\n\n\n

Stefanoff, who helped Mendes with her plan, says there are many misconceptions about crafting the ideal business plan. \u201cIt does not need to be complex,\u201d he says. \u201cIn fact, the opposite is true – the simpler the better.\u201d<\/p>\n\n\n\n

You may only need one page for each section of your plan. Remember, it will change as your business grows. Give yourself space to change and reshape it as you learn what works best for you.<\/p>\n\n\n\n

\"How<\/a>
How to craft a solid business plan<\/figcaption><\/figure>\n\n\n\n

3. Do the right research<\/h2>\n\n\n\n

With access to more information than ever before, you can start researching without even leaving your chair. Be rigorous and realistic – the more you know about what to expect, the more success you\u2019re likely to have.<\/p>\n\n\n\n

Make sure you answer questions like these across a range of topics:<\/p>\n\n\n\n

\u2022 Structure and legals
<\/strong>What kind of business structure will work best for you?
Do you need policies and guidelines in place?
Are there legal requirements for producing or labelling your goods?
What insurances do you need?<\/p>\n\n\n\n

\u2022 Market analysis
<\/strong>What are your competitors doing?
How many businesses are already up and running?
What other products or services like yours?
Where can you sell your products?<\/p>\n\n\n\n

\u2022 Production<\/strong>
How will you make your products?
Where will your products be manufactured?
How can you make sure they are safe?
Are you protected in case something goes wrong?

\u2022 Marketing and promotion
<\/strong>What marketing platforms are available to you?
What sort of budget do you need for advertising?
Do you need a logo, website and social media accounts?
How can you cut through the noise?<\/p>\n\n\n\n

Read more: theguardian<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Ambition workshop: how to craft a solid business plan When CGU Insurance launched its ABN Rescue campaign – in a bid to get small businesses back on track – Mendes saw the call-out, and asked for help. Photograph: CGU The words \u2018business plan\u2019 can be overwhelming. You might have visions of a 40-page document full […]<\/p>\n","protected":false},"author":3,"featured_media":8521,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_vp_format_video_url":"","_vp_image_focal_point":[],"footnotes":""},"categories":[45],"tags":[31,108,196],"class_list":["post-3419","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-business","tag-business-plan","tag-workshop"],"yoast_head":"\nDazzlepop | How to craft a solid business plan<\/title>\n<meta name=\"description\" content=\"How to craft a solid business plan When CGU Insurance launched its ABN Rescue campaign - in a bid to get small businesses back on track\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.dazzlepop.net\/site\/how-to-craft-a-solid-business-plan\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Dazzlepop | How to craft a solid business plan\" \/>\n<meta property=\"og:description\" content=\"How to craft a solid business plan When CGU Insurance launched its ABN Rescue campaign - 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