How do I create a business plan and what are the benefits of doing so?
Whether it’s a simple business plan format, or a business plan for growth, having a plan of action gives your business a focus. However, they are not set in stone and updating the plan to reflect reality is not a failing, but a healthy part of managing the growth of your business. If you don’t have the flexibility to adapt, then your business will fail to satisfy your customers.
In this section we also include the Business Model Canvas, which helps you bring together and visualise all the components of your business. If you’re starting out (or established and thinking of a new product or service), completing the Business Model Canvas is a worthwhile activity before diving into your full-blown business plan.
Key: paid for service registration required official
WHEN: You’re about to write your business plan or you’re looking to launch a new product or service.
WHY: By summarising the key components of your business model, you’ll show how all parts of your business work together to deliver success. This will also help shape a business plan and align staff to the business mission.
WHAT: An engaging framework that you and your team can easily complete together.
