Posted on Leave a comment

How to Write a Business Plan

Business plan

Some of you might be old hands at writing a business plan. But to those of you who aren’t, this post is for you!

There are a lot of resources available to help you in this process. Remember the goal of a business plan is to be a roadmap for where you want to go. A great business plan can help you increase capital, hire top talent, and guide your next decision.

Writing your business plan

Your business plan should be a projection of the next 3-5 years, and should be the roadmap to how you plan on growing revenues. Check out the pieces your business plan should contain below.

  • Executive Summary
  • Company Description
  • Market Analysis
  • Organization & Management
  • Service or Product Line
  • Marketing & Sales
  • Funding Request
  • Financial Projections
  • Appendix

For a description on these and what they include, check out this guide from the Small Business Administration.

Statistics

Still hesitant to get started? According to Quickbooks, businesses with a plan grow 30 percent faster than those without, and owners with plans are twice as likely to grow and get investments and loans.

And before you even begin, be sure you know who your target audience is. That way, you know who you’re speaking to the whole time you’re writing.

Of course, writing a plan is work, and to make your plan stand out, consider ideas for partnerships as you begin your research. Your business plan can be short and to the point, but should show why you care. Be objective, avoid jargon, and don’t be afraid to make changes to your original plan.

Finally, don’t forget to USE IT! Put all that hard work to good use.


If you’re looking for more information to guide you in owning a retail business, subscribe to American Quilt Retailer today. Already a subscriber? No worries—join our Facebook group for insights and dialogue from industry specialists like you. And don’t forget, you can always purchase single issues if you prefer that instead.

Leave a Reply

Your email address will not be published. Required fields are marked *


By submitting this form, you are consenting to receive marketing emails from: American Quilt Retailer, 101 North Main Street, Conrad, IA, 50621, https://www.americanquiltretailer.com. You can revoke your consent to receive emails at any time by using the SafeUnsubscribe® link, found at the bottom of every email. Emails are serviced by Constant Contact