Get Your Business Plan Right

Jane Khedair, managing director of Business Plan Services, shares the key issues to be considered when preparing your business plan.

It's important to get your business plan right the first time round, because your business may not get a second chance. Here are the top five issues to consider before putting pen to paper.

1. Work out who your business plan is for to make sure that you address the requirements of that audience type.
2. Start by thinking 'big picture' and keep focused to create a 'vision' for your business in, say, three years' time. If you don't know where you are going, it is hard to work out how to get there.
3. Make sure that you can clearly identify the market before you design a product so that you can be sure that you are filling a need rather than trying to create demand.