A business plan is a written summary of your business idea including the product, people, equipment, financing, competition, sales and marketing, cash flow and operations that are required. Next is the very important phase of developing a marketing strategy wherein the marketers choose a marketing method. In addition, a plan is to exhibit every aspect of a particular industry and its trends in an effort to interpret for a company what the market for business is really like.
Market Analysis-provides a summary of your typical customers, competitive landscape, market size, and expected market growth. So what you need will be strategic planning for a small business. As artists we often don’t see ourselves as business people, but if you want to sell your art successfully it helps if you come up with a plan.
You need to outline your promotion plan and how you will implement your marketing strategies. Financial planning is an industry that is growing quickly and redefining the meaning of financial services. Firstly, you must be able to state when you started trading or are planning to begin trading.
It’s important that potential investors understand what kinds of services you are selling. Present a financial plan that will project a financial aspect summary for the next five to ten years. You, the owner of the business, should write the plan, whether you are using the business plan to seek financial resources or evaluate future growth, to define a mission or give guidance for running the business.
It should demonstrate a concrete knowledge of marketing and a solid, sensible plan. These plans often start with the vision, then mission, followed by company goals and strategic initiatives to meet those goals. Ensure that you note every detail about your products, finance sourcing, rent payment, overheads, employee salaries, vendors, etc., in the business plan.