Why having a business strategy and writing a business plan is important

Why is it important to write a business plan for your small business? Because a business plan guides you through each stage of starting and managing your small independent business.

A business plan should be a working document and not something that you write and just put on the shelf. The idea is to plan and motivate you through your business.

There are lots of business plan’s free downloads, but our workbook guide is a comprehensive document with everything you need to create a solid foundation for your new business successfully.

Learn more about it here: https://www.tbpo.co.uk/shop-JKqtP/p/bizplan

Why is having a business strategy important?

A business strategy is more than just writing a business plan, it’s planning and strategizing over ALL aspects of your business. Many business fail because they do not plan and prepare properly.

So, what do you need to plan for?

·       Your marketing and promotions.

·       Your continuously plan (What will happen if you end up in hospital or suddenly die, what will happen with your business and your current clients and orders ect)

·       Dealing with obstacles that you may occur and problem solving how you will deal with any issues like fraudulent money, suffering from depression, equipment failure, your supplier going out stock ect.

·       Your finances; how you will break even, how you will make a profit, how you will budget your money for additional changing costs, how you will save to pay for your tax bill, any emergency costs that may occur like equipment failure, sickness and ensuring that you don’t go into debt and make this business work for you.

·       Expansion; what will you do if you need to expand and how will you do this.

·       Dealing with complaints; how will you professionally deal with complaints, stolen orders, online cyberbullying, protecting your intellectual property, returns ect.

·       Your goals and your action plan on how you will achieve them, with your business vision.

·       Knowing your strengths and weaknesses and how you can combat your weaknesses and amplify your strengths, to build a better you and business.

Having a business strategy puts you in control of your business, it helps your business succeed and stand the test of time with your efficiency and planning.

So, do you have a business strategy? If you don’t have a look at out business plan workbook guide, it’s 100 pages of business preparation and planning!

We hope this post gives you the information you need to feel inspired, empowered and educated.

So, are you inspired to start your small business idea?