So, you’ve made the decision, what’s next? For any new entrepreneur, trying to find your way in the commercial world can be daunting, overwhelming and at times lonely.
To help you focus and build momentum, you need to form a plan. But what information does the plan need to contain? how should it be structured? does it need to be a 50-page document?
To illustrate some of the key points you should consider at the start of your journey, Pinnacle have put together the planning diagram below to help you formulate your business plan.
The plan is split into 6 sections: Executive Summary, Finance, Marketing, Management, Products/Services and Analysis.
Each of these sections can be comprised of a variety of areas, however to narrow down and provide some focus, we’re focusing on 3 areas within each section.
The main point to remember, is that each businesses plan is unique, and no two plans will be the same. Don't worry if your plan is only 10 pages long and not 50. Don't worry if it only has 5 sections and not 25, just ensure that it contains the most relevant information to your business and is in a structure you and others (including potential investors) can easily follow.
As your business progresses, you should regularly go back to your plan and update it to reflect how your business and market has evolved.
As was highlighted above, at times your entrepreneurial journey might feel lonely and stressful as you aim towards your goal. If this happens, don’t fret! There are a wide range of options open to you to seek guidance and support from others who have already been on the journey and have learnt the sometimes-harsh lessons of entrepreneurship.
Growing your business network is one of the best business activities and tools you can do at any stage of your journey, but in particular at the beginning. So, if you’d like to meet for a coffee to chat about your plans for 2019 and the goals for your new business get in touch with Pinnacle.
No matter what stage your business is at we can work with you to ensure you have a business plan that meets and supports your goals.
Read more about the business growth services Pinnacle offer HERE
Contact us at firstname.lastname@example.org.