How to Start Your Business Plan
Formulating Your Business Goals
Management Plan
Marketing Plan
Operational Plan
Financial Plan
Action Plan
Business Plan Do's and Don'ts
More Information
To download the Business Planning leaflet in PDF format click here.
Business Planning Template (Word) [248 KB]
A good plan is like a map, helping you to find the best path to achieving your goals. Setting business goals helps you to use your time and resources more effectively. By planning ahead you are more likely to be able to take advantage of business opportunities and anticipate problems. You will also need a business plan to raise finance.
Your business plan involves developing:
Contents of a typical business plan:
Top of Page
Before you start writing your business plan it is useful to do some background preparation. This includes:
Your business goals should provide a clear picture of the business you will be in over the next years, covering:
Finalise your business goals after completing your market research.
This covers how your business will be structured and run and what management capabilities will be developed. It could also cover any legal matters in relation to structure, intellectual property rights, licensing and contractual matters, eg with suppliers.
Business Structure provides more information on alternative business structures.
Based on your research, it is useful to undertake a SWOT: an assessment of the business that covers:
Internally Externally Strengths you should build on Opportunities you should exploit Weaknesses you need to overcome Threats you need to manage
Put dot points under each heading which realistically and honestly reflect your research and self-assessment. Your business plan needs to develop strategies to deal with identified issues.
Your marketing plan needs to identify:
Your product/service offering What are you offering your customers? What is its likely life cycle? Are there substitutes available in the market? Will it meet your customers' needs?
Your market Its size, geographic location, demographics and trends?
Your customers Who are they? What, why, where and how often do (will) they buy?
Your competitors Who are they? How do they compete on price, services, quality?
Your marketing plan needs to cover the strategies you will put in place to capture and keep customers. This includes how you will make your product/service available; how you will promote them and build your business image (including networking); and your pricing policies.
Marketing and Sales, Advertising and Promotion and Customer Service provide further details on how to develop your marketing plan.
You will need to make decisions on a range of operational issues, including:
People Will you employ or use contract staff? If so, how will you manage them? What other expertise will you need? See Employment Conditions.
Processes What systems and procedures should you put in place? What production output and methods will you use? R&D initiatives.
Suppliers Who should they be? Cost and quantity of supplies?
Equipment/technology What equipment and IT requirements do you have? What skills will you need to maintain or upgrade these?
Premises Will you purchase or lease property or work from home? See Commercial Leases on negotiating leases.
Reporting What is the most suitable reporting system to put in place to allow you to monitor your performance?
Your financial plan needs to cover:
This should set out specific tasks that need to be undertaken to implement your business plan, with clear priorities, timeframes and who will be responsible.
Do:
Don't:
Industry Associations and your local Chamber of Commerce and Industry offer advice and services to members.
Your local Business Advisory Service can offer you one-on-one advice on developing your business plan. It also offers low-cost workshops covering all aspects of business planning. Call 1300 650 058.