Small Business Plan Template – Which One is the Best!
It promises to guide you through creating a business plan presentation formatted in a way that financial institutions want to see it.
Although there are many reasons to create a business plan, my number one reason is to find out if my business idea is going to succeed or fail miserably! If I do discover through doing the research that it is a great business idea my secondary reason is to secure funding!
That is where a small business plan template comes in most handy. Being able to produce a plan that is easy to read and formatted properly. Business Plan Pro does that at an affordable price.
Let's talk about what goes into creating a great business plan!
No matter what product or service you are going into business with the number one most critical piece of a businesses success is understanding who their customer is and where are they located! The number two most critical part of a good business plan is to know how you're going to get them to purchase your product or service!
Whether you're selling the absolute best product or service or not, without the answer to this question you will fail!
How do I know this?
Because my very first business failed miserably because I had given little to no thought into the answers to these questions!
So who is your customer?
You'll need the answer to this question no matter what small business plan template you use!
Is your customer young or old?
Are they married or single?
Do they have children or not?
Do they own a pet?
Do they attend church?
How much money do they make?
Do they own their home or rent?
Do they live in the city or suburb?
I think you get the drift of what I am asking you! If you're selling lawn mowers you are looking for someone with grass, right? If you're selling children's clothing you are looking for someone with children! If you are selling softball bats you're looking for someone that plays softball!
If you are thinking about taking a shot gun approach you are wasting your time unless you are one of the lucky few!
With or without a small business plan template there are 61,000 plus business bankruptcies annually in the United States! Do you want to be one of them? If so, then just makeup numbers and put together a business plan that looks pretty. Base all your sales predictions on fictitious data! If you do this, please don't tell anyone you visited this website because they may associate me with you!
Now on the other hand if you are serious about getting your business started out right make sure you take your business plan very serious.
Once you have identified your customer you most likely can figure out where they are located by using the website of the United States Census Bureau! On their website you can find all the above information for any location in the United States! Guess what? It's free! No kidding, free!
Your other choice is to hire someone to do the same thing for you. Either way you must know where they are located!
Do not buy a building first and then go out and try to find the customers! You just may find out that they are nowhere in the local area. You might as well open up a five star hotel on skid row because you will have just as much luck selling rooms there as your product in a location where there are no customers.
Think about it and don't waste your time or your life savings!
So the next item for your small business plan template is to have a marketing plan. The key to this question is to understand how your product or service will differ from the others in your marketing area!
More people fail because they open up a business that someone else has made success trying to copy them exactly! Guess what? The ship already sailed! The other person has already developed a great reputation. Understanding that why are they going to stop using them and come to you! You don't have a reputation!
So what are you going to do differently?
Deep fried versus baked!
See the difference?
Using your small business plan template add this to your business plan!
This is what you will use to market your product or service. Keep in mind it could be much more than just one thing! It may be a combination of things!
This in combination with your targeted customer will help you clearly identify your marketing plan. Business Plan Pro and Marketing Plan Pro are a great combination to help you best prepare for successful start to your business!
Don't under estimate the power of a great well thought out business plan for helping you get through the first year or two of your start up! The more hard work you put into research and planning will make it that much easier to be successful.
Don't get half way up Mount Everest before you realize that you should have brought along oxygen!
Good Luck and May God Bless You!