Business Plan Procedure

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We have a number of free templates and tools to help you get started.

This section is based on our free business template and guide and steps through the various areas and information you need to include in your business plan.

Business planning is essential for the success of any business.

A business plan provides direction, keeps you on track and is usually a requirement when you seek finance.

The operations section of your business plan is where you explain – in detail – you company's objectives, goals, procedures, and timeline.

An operations plan is helpful for investors, but it's also helpful for you and employees because it pushes you to think about tactics and deadlines.Make sure you have a good idea on when you would like those key hires to happen; whether it’s after your company hits a certain revenue amount or once a certain project takes off. These milestones act as "checkpoints" for your overall department objectives.For instance, if you want to create a new app by the end of the year, product milestones you outline might include a beta roll out, testing, and various version releases.Your business plan may vary from this depending on the type and structure of your business.A good business plan can help you secure finance, define the direction of your business and create strategies to achieve your goals.The document that contains the strategic plan is not what is valuable; it's the information within it and the process used to create it, that is then SHARED and COMMUNICATED with the rest of your team.A great strategy is most often re-evaluated on an ongoing basis (yearly or quarterly, for example), rather than being a static document just sitting in a binder.In the previous course, you outlined your company's strategic plan, which answers questions about your business mission.An operational plan outlines the steps you'll take to complete your business mission.Below are common milestones new businesses should plan for.When you completed your Management Plan Worksheet in the previous course, you jotted down which key hires you needed right away and which could wait.

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