If you’re thinking of starting your own business, but don’t know where to begin, we recommend creating a business plan. Here are a few suggestions from the team to help get you going.
Keep it short
You want your business plan to be read. It’s also a tool to help establish, run, and grow your organization so you’ll likely be adding to, and developing, it in years to come; allow opportunities for expansion of ideas and goals.
Know your audience
Who will read your business plan? Think about your use of language and ways in which to demonstrate your point through tables, graphs, and images. Not everyone will understand the language you/or your industry is used to. Don’t confuse your readers.
Don’t be afraid
When you have a business idea, often it’s because you see a gap in the market or you feel you can offer a better service or product. Don’t let the fear of never having written a business plan prevent you from moving forward. Writing a plan will help you see the gaps in your knowledge, experience, and skills that you can plug by bringing others on-board.
Start with the basics
A business plan, in its most basic form, should include an executive summary, business overview, market analysis, products/and or services, sales and marketing, operations, financial plan, and an exit strategy.
For more information about our business services, please contact Greg Lubrant at greglubrant@wbsb.com or Scott Flanigan at scottflanigan@wbsb.com