Writing a business plan for an existing small business

Use a Strategic Plan Template An effective small business strategy will help build your business. Use strategic planning samples or a strategic plan template for example, a strategic planning SWOT or five forces model analysis to streamline your strategic process and focus on getting the results you want for your business. Search This Site Custom Search Small business strategy needs to be developed differently than big or medium sized business strategy.

Writing a business plan for an existing small business

Sometimes people use the term business plan when they are referring to a project. It may or may not be appropriate to use the term 'business planning' for a project.

Some projects are very substantial and equate to an autonomous independent business activity, in which case a business plan is entirely appropriate. Business planning terminology can be confusing because much of it is used very loosely, and can mean different things.

Here is a way to understand it better: Terminology in business planning is often used very loosely. When people talk and write about business planning different terms may mean the same thing, and a single term can mean different things.

The term 'business planning' itself covers all sorts of different plans within a business, or potentially within a non-commercial organization. The words 'strategy' and 'strategic' arise often in the subject of buisness planning, although there is no actual difference between a 'business plan' and a 'strategic business plan'.

Every business plan is arguably 'strategic'. Everyone involved in planning arguably adopts a 'strategic' approach. This increasingly applies to many non-commercial activities government services, education, health, charities, etcwhose planning processes may also be described as 'business planning', even though such organizations may not be businesses in the way we normally imagine.

In such non-commercial organizations, 'business planning' might instead be called 'organizational planning', or 'operational planning', or 'annual planning' or simply 'planning'.

Essentially all these terms mean the same, and increasingly the tendency is for 'business planning' to become a generic general term to refer to them. Business planning always starts with or revisits the basic aim or need to provide products or services to customers - also called a market or 'market-place'.

Consequently business plans tend first to look outwards, at a market, before they look inwards, at finance and production, etc. This means that most business plans are driven by marketing, since marketing is the function which addresses market opportunity and need, and how to fulfil it.

Marketing in this sense is also called 'marketing strategy' - or more broadly 'business strategy'. Many people use the words 'sales' or 'selling' and 'marketing' to mean the same thing - basically selling products or services to customers, in the broadest sense.

In fact, marketing refers to much wider issues than sales and selling. Marketing involves the strategic planning of a business or other organizational provider through to every aspect of customer engagement, including market reserach, product development, branding, advertising and promotion, methods of selling, customer service, and extending to the acquisition or development of new businesses.

Sales or selling is an activity within marketing, referring to the methods and processes of communicating and agreeing and completing the transaction sale with the customer. Given all this, it is hopefully easier to understand why, depending on a person's role or standpoint or the department in which they work, 'business planning' may be referrred to in many and various ways, for example as 'sales planning', 'marketing planning', 'strategic planning', etc.

If there is a technically correct definition of 'business planning', then perhaps we can best say that 'business planning' refers to the plan of the overall organization, or to a unit or division within an organization with responsibility for a trade or profit.

A business plan technically contains and reflects the individual plans for the different functions within the whole operation, each of which may have its own detailed 'business plans', which might be called business plans, or more correctly departmental or functional plans according to their purpose, such as a marketing plan, sales plan, production plan, financial plan, etc.

Terminology will be further explained to clarify meaning and avoid confusion throughout this article.

writing a business plan for an existing small business

Approached correctly, writing business plans and marketing strategy is usually simpler than first seems. Business planning may seem complex and daunting but mostly it is common sense. Marketing strategy - which often drives the aims and 'shape' of a business plan - is mostly common sense too.

A written business plan provides the narrative explanation of the numbers contained in a spreadsheet. When we see lots of numbers in a computer spreadsheet we can forget this, but the numbers are merely a reflection of scale and detail, and of computerised calculations and modelling, etc.

In fact often when we are confronted with a complex planning spreadsheet containing thousands of numbers, what we are actually being offered is a ready-made planning tool.

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In many cases, where business planning is a continuation of an ongoing situation, the most frightening spreadsheets can provide a very easy template for future plans, especially with a little help from a colleague in the acciounts department who understands how it all works.

Ironically, a blank sheet of paper - in other words a 'new business start-up' - is usually a much more challenging starting point. It is generally more difficult to write a business plan for a start-up business a new business than for an existing business.This Small Business Plan Sample will help you write your business plan in the correct manner.

You will get to see what a business plan really looks like.

Writing a business plan | Start Up Donut

And also see how it can help you. Small Business Victoria's Workshops can help you develop a marketing action plan or refine your existing marketing plan. Find a workshop near you. A business plan is a written document that describes your business.

It covers objectives, strategies, sales, marketing and financial forecasts. A business plan helps you to. Expanding your business is an exciting proposition. It means it's doing well and ready to grow to the next level. But often a business needs financial support to implement expansion ideas.

The business plan is not just for business startups. Business acquisitions, franchise purchases and newly developed products are just some of the events that might prompt an existing business to.

Writing a Business Plan Georgia State SBDC 2 Why Write a Business Plan? A Business Plan helps you evaluate the feasibility of a new business idea in an objective, critical, and unemotional way.

How to Create a Business Plan for Expansion | r-bridal.com