Yes you need a Business Plan

YOU NEED A BUSINESS PLAN (you heard me- yes you, I don’t care if you make hair accessories or if you offer Virtual Assistant services —-you need a business plan. Now before you start telling me that’s boring or that you already know what you are doing, or you start raiding the cupboards for biscuits – it doesn’t have to be boring or onerous.

Some people suggest a business plan is only useful if you are looking for a business grant or investors.

Depending on your business it might be a one page document (template example here from startsmart) or it may be a more comprehensive one from the Victorian Government (yes ok, that does look boring but just tailor it for your business- cut out what you don’t need).

There’s also the one page action plan template from the Victorian Government also. Be warned its actually two pages!! There are many templates out there- don’t spend 5 days finding the prettiest one- just get the basic information down!

I really believe even a one page plan can provide focus and direction for your business moving forward. For more reasons to have one check out this article xero (no, not affiliated with them in any way but they lay out the reasons really nicely).