First step… a business plan.
A good business plan is your foundation. It will guide you through each stage of starting and managing your business. You’ll use your business plan as a roadmap for how to structure, run, and grow your new business. It’s a way to think through the key elements of your business.
Business plans can help you get funding from banks and institutions or bring on new business partners. Investors want to feel confident they’ll see a return on their investment. Your business plan is the tool you’ll use to convince people that working with you — or investing in your company — is a smart choice.
It’s a perfect opportunity for you to get all your thoughts down on paper and break your plan down into segments. For example:
Part 1 – Starting a cupcake business.
Part 2 – Turning your small business into a bakery.
Part 3 – Growing your company from a local bakery into a nationwide catering business.
The possibilities for growth in your business are endless! You just have to plan them properly.
At Nordens, our strategic team are capable of helping you to build a business plan for scratch, or stress test your existing one. They are able to identify gaps in your offering and provide tangible solutions. Use this as an opportunity to begin your strategic thinking habits, as too often this is forgotten about. Strategic planning is important for your business because it provides a sense of direction and outlines measurable goals to keep you and your business on track. In order to make the most of strategic planning, your business should give careful thought to the goals it outlines and then back up these goals with realistic measures for evaluating results.
If done right, your business plan can be a really valuable tool in your business. Contact us on 02085300720 or email businessdevelopment@nordens.co.uk
