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5 Steps to Develop a Business Plan

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business plan is essential for every entrepreneur, but if it is your first time making one, it can be complicated. Business owners discuss when they refer to how long it should be, but usually, with one page you can cover all the needs at first and organize to start.

Don’t worry, you can’t go wrong when you start with a one-page plan and add things as your business grows. Just remember that the worst business plan is the one you never bothered to write. Do not let fear prevent you from starting.

What is a business plan?

business plan

business plan is a written description of your business’s future, a document that tells what you plan to do and how you plan to do it. If you jot down a paragraph on the back of an envelope describing your business strategy, you’ve written a plan or at least the germ of one. Business plans are inherently strategic.

5 Steps to Develop a Business Plan

Here are five simple steps to create a one-page business plan :

1. Start with your vision

Start the plan thinking about the end. You must communicate in front of where you want to take your business to set the tone of your plan. Do you want to make it grow to sell? Do you want it to be a legacy that lasts a lifetime? What is your great approach to the final goal? It is important to start with the last stage in mind. Your vision should summarize that too.

2. Formalize your mission

You know what your vision is, now you need to describe what you are going to do to get it in a brief and accessible way. You must show this statement so that you and your team can see it and remember why they do what they do every day.

3. List your goals

Think of them as bullet points that you plan to meet. For example, “Master at least 10% of the market in my niche for 2016” or human resources objectives such as “Hire a full-time graphic designer by the end of the year.” They must be the big goals you want to achieve with a specific time to do it.

4. Establish your strategies

These will describe how you plan to achieve your goals. What is a marketing plan? Sales strategies? Would you dedicate your time to research and development? What are the strategies you will follow to achieve your goals?

5. Create an action plan

You have the objective, you have decided to use a strategy, what steps will you take to ensure that your business maintains that momentum to achieve it and achieve the manifestation of your great vision? They must be short-term actions and daily tasks, things you can start doing now to reach your final goal.

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