All businesses regardless of size should have a business plan. It is the blueprint for your business. It outlines the steps to starting a small business and the giant leaps to start a large multi-national company. A business plan remains a WIP (Work In Progress) for the life of your business, changing and evolving through time, reflecting changes in both internal and external factors.

There are seven essential sections of a business plan numbered below. Answering the questions in each section as dot points or sentences and you will have a workable business plan and a customized list of the steps to starting a small business.

1. BUSINESS GOALS
What service and or product are you selling?
What is your USP (Unique Selling Point)?
Why will customers choose to come to you rather than your competitors?
What are your income goals and in what time frame to you hope to achieve them?
How many years would you like your business to be operational?

2. MARKET RESEARCH AND ANALYSIS
Is there a market for your business? Who are they?
What reports and or statistics are available to help you understand your market?
Undertake a SWOT (Strengths, Weaknesses, Opportunities, Threats) Analysis
Internally - What strengths should you build on? What weaknesses should you overcome?
Externally - What opportunities should you explore? What potential threats should you manage?

3. MARKETING PLAN
What is your market? Consider the size, geographic location, demographics and trends?
Who are your competitors? How do you compete on price and quality?
How will you advertise/promote your business? Will you use flyers, television, website etc.?
How will you approach customer service? Is it important to you? Is it important to your customers?
What is the life cycle of your product? Is it seasonal? Are you selling "warm woolies" that won't have a market in summer? Are you selling "2009 novelty mugs" that won't have a market in 2010?

4. MANAGEMENT PLAN
What legal structure will your business take? The most common are sole trader/proprietorship, partnership and proprietary limited company/corporation?
What licences /permits are required?
What business registration, taxation registration is required? company registration.
What Management capabilities do you have?
Who will fill the key positions in your business?
What professionals will you need? Who will they be? Accountant, solicitor etc.
What Insurances are required? The most common include general, fire, theft, public/products Liability, workers compensation. Also consider personal injury and income protection for yourself.

5. OPERATION PLAN
Will you employ or hire contractors?
What procedures will you need to develop to effectively and efficiently operate your business?
What suppliers will you need? Who will they be?
Will you lease or purchase your business premises?
What plant and equipment will you require? Will you need a motor vehicles, tools, machinery, computers etc.?
What recording keeping system will you require and use to monitor performance and taxation obligations?

6.FINANCIAL PLAN
How much money is needed to finance the start up of your business?
How will you fund it? Will you borrow or provide the capital (money)?
Financial Analysis - project the profit and loss of your business over the next year or so.
Cash Flow Analysis - project monthly flow of cash in and out of your business? Will you have enough?
Balance Sheet - a snap shot of your business at a point in time, showing assets, liabilities and owners equity.
Break-Even Point Analysis - How many sales are required to cover costs?

7. ACTION PLAN
The task "To Do" list to put your business plan into action and as such the next steps to starting a small business. This should include time frames and who will be responsible for each task.

When establishing your business plan be realistic about what you can achieve and also the challenges all businesses encounter. Business plans can be very simple and very complex, I have tried to give you a guide somewhere in the middle. Don't be put off if you can't answer ALL the questions, be thorough but don't spend too much time making in perfect, remember it is a WIP!

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