Continued from page 1
Management Plan Give specific details of manning levels: · numbers of staff required · any training needed · experience of managers and their skills
Marketing Plan Divide this into: · Internal - how you'll win repeat customers and referrals · External - how you'll get new customers · Impact - how you'll target specific groups Detail how you'll go about targeting and selling to each group e.g. · Service levels · Vouchers · Hand-outs · Music · Decor · Entertainment · Special add-ons · Etc Publicity and direct approaches you'll make (specify targets e.g. music schools etc) Promotion (e.g. freebies, discounts, buy one get one free, every 6th something free, charity performances, openings etc). The actual product / service you're selling - explain exactly what it is or what it involves.
Financial Plan Give details of: · Projected sales · Projected costs · Projected profits Give specific details e.g. break down into gross profits, overheads, net profits etc.
Action Plan Again, you must give details, consider using a table to show: · Activities to be carried out · When these will be done · Who will do each
Give a chronological sequence of action to show how you plan to start and develop business.
Provide plenty of graphs (use different styles), tables, facts and figures.
Get information from Bureau of Statistics on demography, socio-economic groups, age etc.
Have an appendix and include any extra details (e.g. if you're planning to start a business which has a sound recording studio, include newspaper cuttings about bands bemoaning fact that they can't get their CDs cut etc).
If all this sounds a little daunting, keep reminding yourself of rewards for all this hard work - you'll be able to start your business much sooner than if you had to work for a boss and save necessary capital, or if you had to wait until you win lottery!
Jennifer Stewart has had her own web-based business at http://www.write101.com since 1998 and specialises in editing and copywriting for business people who would rather spend their time running their businesses than chewing on the end of a pen. For details of how you can start your own business, click here: mailto:sky101@GetResponse.com?subject=Business