10 Steps to Building a Business Plan

Business Plan

Do you have a micro or small company but are you considering that you should make a plan on how to handle it? You need a strategy, here we give you 10 steps to put together a business plan.

Many of the companies that operate in Mexico are family businesses and employ the vast majority of the economically active population of our country is why it is highly recommended that we implement a business plan for our company:

1. Define your business and what its value consists

When you make a business plan you should sit down to define what your business is and what the value it offers, to understand it a little better, let’s take the example of the Cookies business, you do not find those cookies anywhere in the recipe Secret of the grandmother and the homemade workmanship.

2. What are the Products and ServicesBusiness plan

Define what products and services your business offers, if you only make cookies or also make cakes, if you have to go for them or can send them home.

3. Make a summary of what happens in the sectorBusiness plan

Mainly to know what are the things that happen in the sector in the country trends, what is going to happen this year with flour that has increased the price by 60% etc.

4. Establish a marketing strategymarketing strategy

In this section we must be very clear that is what we do and what not, depending on the possibilities of our business we can know that we could not provide cookies to Cinepolis or Starbucks, who are our customers where they buy and how we are going to Sell or if someone will sell for us

5. Establish a human resources planning and inventoryBusiness plan

According to the needs of the business, we will have to know if we are going to hire a master pastry chef, a pastry chef, or a dealer on his motorcycle.

6. Rules of operation, and controlBusiness

How we are going to control the purchases the sales charged, the processes and everything related to the operation of the business.

Read Also: Structure and model of a business plan

7. Launching or start-up of the businessBusiness plan

How are we going to start operating that we must do

8. SWOT AnalysisBusiness plan

It is about looking into the business and identifying the Strengths and Weaknesses of our business and also looking outside the business in the environment where we develop what are the opportunities and the threats. This is a fundamental part of every business plan.

9. Information on the company’s financesBusiness plan

Loans, debts, statements, purchases accounts payable, accounts receivable everything related to the flow and planning of cash with which is counted, a projection of sales and expenses, a projection of profits and company goals in Financial terms, and participation in the local, regional, national market etc.

 10. Contingency planBusiness

In case the financial goals are not achieved as we are going to support the needs of the business, what would be the alternative plans that we would have to implement to move forward?

These ten are elementary in the pursuit of any business plan.

The author is an expert on occupational training and a prolific writer who writes extensively on Business, technology, and education. He can be contacted for professional advice in matters related with occupation and training on his blog Communal Business and Your Business Magazine.

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