Why should we write a business plan? Of what benefit could they be to our online niche business?

In a recent blog, I spoke about some benefits that we receive from embarking on this exercise. Here is the link to that blog:

https://my.wealthyaffiliate.com/funkydunc208/blog/...

Many of you expressed interest in a tutorial about the subject. This training will outline a number of key aspects to this vital business tool.

The subjects are:

1. What to include in a business plan

2. Where I can get an online template for writing a business plan.

3. Top 10 benefits for writing this plan.



Now obviously there are so many tools available online regarding business plans that this tutorial cannot cover all the details that this subject evokes. But I hope to give you sufficient information to equip you so that when you start down the business plan roadway, you may avoid any of the mines that may be lying there from previous business disasters.

Remember this point that I highlighted in my blog. Stever Robbins said the following in an article at Entrepreneur.com "In fact, a business plan is much more than that: It's a tool for understanding how your business is put together. You can use it to monitor progress, hold yourself accountable and control the business's fate. And of course, it's a sales and recruiting tool for courting key employees or future investors."

So on the next page, we will consider an overview of the subjects that your business plan could contain.



Join the Discussion
Write something…
Recent messages
GinaGo Premium
Thank you Duncan! ~Gina
Reply
Funkydunc208 Premium
You're welcome, Gina.
Reply
JewelCarol Premium
Excellent training, love it very much, thank you Duncan!! ;))
Reply
Funkydunc208 Premium
Thank you so much for such positive comments.
Reply
MKearns Premium
A very thorough and useful presentation Duncan. Thank you.
Reply
Funkydunc208 Premium
You are very welcome. Glad you liked it.
Reply
ShallyK Premium
Hi Duncan, our nightmare was to give a projected outcome of our financials in the next 5 years in order for us to set up a bankers guarantee. How to do this when it's a new business? And we have no idea of the projected financial outcome 5 years later? It had to get us really thinking about what financial goals we want to achieve. We went with NAB. Shally.
Reply
Funkydunc208 Premium
Yes, at times the banks want more than is reasonable.
Reply
ShallyK Premium
I'm with you on that.
Reply
KenPe Premium
Hi Duncan,
Thanks.
Ken
Reply
Funkydunc208 Premium
Great to hear from you, Ken.
Reply
Claudioj Premium
Excellent tutorial Duncan, Many thanks for sharing!
Claudio
Reply
Funkydunc208 Premium
Thank you, Claudio. I appreciate your feedback.
Reply
Sipke Premium
Thank you, can and will use it, marion
Reply
Funkydunc208 Premium
Hi Marion. Glad to be of assistance.
Reply
T1967 Premium
Nicely said :-)) xoxo
Reply
Funkydunc208 Premium
Thank you.
Reply
T1967 Premium
you are welcome duncan :-))
Reply
stevecox Premium
Good advice all the way around Duncan.
Reply
Funkydunc208 Premium
Thank you very much, Steve.
Reply
Mike-Writes Premium
Thanks for the excellent tutorial, Duncan.
Reply
Funkydunc208 Premium
Mike, you are always so affirming. Thank you.
Reply
RickBell57 Premium
This is sound planning!
Reply
Funkydunc208 Premium
Yes it is. But we don't always do it.
Reply
johnwnewman Premium
Thanks Duncan!
Very helpful, I will be bookmarking this :-)
Reply
Funkydunc208 Premium
Hope it is of help down the track, John.
Reply
KenPe Premium
Hi Duncan,
Good idea. It seems as many have responded that it is needed.
Thank you,
Ken
Reply
Funkydunc208 Premium
I look forward to the results people have from implementing it.
Reply
Ivine Premium
Hi Duncan, really needed. Irv.
Reply
Funkydunc208 Premium
Thanks so much, Irv.
Reply
AlexEvans Premium
Hi Duncan, good job, it is something we should seriously consider if we haven't got one in place.
Reply
Funkydunc208 Premium
Very true.
Reply
AlexEvans Premium
It is so good to have that point of reference to measure and manage our progress moving forward.
Reply
Rich908 Premium
Thanks for that
Reply
Funkydunc208 Premium
You are very welcome.
Reply
paulgoodwin Premium
Thank you for this Duncan and very informative
Reply
Funkydunc208 Premium
Thank you very much, Paul.
Reply
paulgoodwin Premium
You are welcome
Reply
Ultimateless Premium
Quite a journey Duncan. Your image on page three hasn't loaded. Thanks for this, it brings back memories.
Reply
Funkydunc208 Premium
Thank you for the tip and the kind thanks.
Reply
Funkydunc208 Premium
Image misload fixed. :))
Reply