Success in business is the result of planning. A written plan details your ultimate goal, the reasons for that goal and each milestone that must be passed in order to reach that goal.
The business plan is a road map to guide your business to the goal you’ve set for it. The plan details the what, why, where, how and when, of your business.
Business plans are necessary because they help you clarify how you see your business. And, forces you to think through every aspect of your business and put it down in writing.
The following is a simple-format business plan:
- Executive Summary – this is an overview and summarizes the entire contents of the business plan.
- Company Overview – this includes a mission statement (in 50 words), goals (things your company wants to achieve) and objectives (how you plan to get there).
- Business Environment – in this section you research not only your competition, but also your potential customer. Get to know your competitors and how you will differ from them, and also, get to know what makes your customers tick.
- Company Description – here is where you go into detail about your business structure, who are your customers, what resources will you use, what types of employees will you need, etc. And you need to include your company’s Unique Positioning Statement (one sentence that describes what sets you apart from all of your competitors).
- Action Plan – this section outlines the steps you need to take now in order to make your plan work.
However, if you are in need of financing, you need to start writing a comprehensive business plan, at least 25-30 pages.
Writing and putting together a ‘winning’ business plan takes study, research and time, it cannot be written in a couple of days. For some help with that process, take a look at these:OfficeReady Business Plans software gives you a business plan template document, an eBook guide, sample business plans and an entire tool set that helps you create a ‘winning’ business plan that helps you get the loan you need.
For a very affordable price (under $100.00) you also get a OfficeReady Marketing Plans and the Ultimate Marketing Calculator.
For a Business Plan Kit, take a look at Business Plans Kit for Dummies by Steven D. Peterson, PhD. (retails for less than $25.00) The ‘for Dummies’ books are always well organized and easy to follow and I recommend them. If you take a look at the New and Used Books at Amazon, you may be able to get this book delivered to your home for about $10.00 in less than a week.
Take a look at The Studio Business Book by Mitch Gallagher and Jim Mandell. This book is a step-by-step guide to operating and managing a professional recording studio; from formulating a business plan and estimating start-up costs, to scheduling sessions, dealing with clients, and maintaining or upgrading equipment.
We’ve got this book in our library and we highly recommend this book to anyone thinking of building a recording studio. This book retails for $35.00 but if you buy it from the New and Used Books at Amazon you can get it for about half price.