I have trained entrepreneurs for the last 13 years. One of my biggest frustrations is: even though we teach and encourage small business owners to develop a business plan they often don’t do it. So I have come up with a simple solution, don’t ask them to develop a business plan just ask them to answer these questions at the beginning of the year and ensure they review them every 90 days
Goals
- My personal goals for the year
- Our business goals for the year
Marketing
- Why should people buy our stuff?
- Who are our current customers?
- Which customers would we like more of?
- What marketing tools are we going to use to get these customers?
- Marketing to do list
Cash Flow
- 12 month cash flow forecast
- Cash flow improvement targets
- Receivable days
- Payable days
- Inventory turnover goals
Income and Expenses
- Our sales, cost of sales and expense forecast
- Our gross and net profit targets
- Our monthly and annual break-even point
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I read your article this helps start-up businesses figure out how much their business will cost them. This is important when writing a business plan.