How To Write A Business Plan

In this video, I'm going to be talking about how to write a business plan. Now, the business plan is the foundation for your business. It will help to give you clarity, help you focus on goals and milestones for your business, and also help you to identify those areas where you may need some help.

I'm going to show you five steps on how to write a simple business plan. Step one is to brainstorm. Get out the flip chart, any paper and post-its and just get all your ideas down on paper.

Step two is to do a swot analysis, so now, identify from all that information the strengths, opportunities, weaknesses and threats in your business plan. Step three is to put some sales targets in. Now, be realistic because these have to be achievable to keep you motivated.

Step four is to do some cash flow and profit forecasting. Now, you'll know what budget you have so you can plan on what you need to spend to get those sales in and that will help you to forecast what profit you can expect. Step five is to now create a working document.

So, turn that into an excel sheet or something similar that you cannot just put away and forget about. This is a working document that you can refer to on a regular basis as you progress with that business plan. So, those are my five steps on how to create a simple business plan. .