Your business plan outlines:
When you are starting out, your business plan can help you to secure financing and investment. But your business plan does more than tell others what your plans are. A good business plan can help you test the feasibility of your new business idea, set operational and financial objectives, and make sure your business is manageable and effective.
You will need to revisit your business plan regularly as your business evolves and the business environment changes. These changes could include increased competition, advances in technology or the expectations of your customers.
What to include in your business plan
A clearly written business plan should include:
Write your business plan
Whether your business is just starting out, you're looking to sustain or you're looking to grow, our guide to writing a business plan can help you clarify your goals, figure out your barriers and come up with a plan of action.
A one-page action plan is an overview of the current situation, where you want to be and what you need to do to get there. It's also a practical way to record the outcomes of the planning process.
A one-page action plan has the following elements:
If you’re a first time business owner then you might need help working out how to action some of the steps you want to take. This might mean talking to an accountant, other business owners, a mentor, business coach or joining an industry group or your local chamber of commerce.
There's plenty of support available in Victoria to help you upskill and put you on the right track:
The advice provided is general advice only as, in preparing it we did not take into account your investment objectives, financial situation or particular needs. Before making an investment decision on the basis of this advice, you should consider how appropriate the advice is to your particular investment needs, and objectives. You should also consider the relevant Product Disclosure Statement before making any decision relating to a financial product.