As an entrepreneur, you often ask the relevant question, “How important is it to have a business plan?” Whether you’re running a large corporation or a brick-and-mortar business, It’s not an easy task and more often than not, you would need a business plan templates in order to sort out the finer details of your enterprise. When your business experiences either a boom or a bust, both necessitate a business plan. There always exists a fundamental need to do comprehensive business planning, especially when launching a new product or expanding your business. The same principle applies when your business is not doing well and you’re experiencing a slump in sales. In fact, business planning is one of the most important aspects to review on where your sales strategy went wrong.
In this essential guide to making a comprehensive business plan, you will be shown the basics of proper business planning, from how to write down a business plan to implementing it, and the tasks needed to achieve your business objectives. You will also be taught financial projection and how to avoid some common business plan mistakes. This way, you will be better armed to tackle the challenges of your trade and do well to avoid any pitfalls that befall other businesses.
In its proper perspective, a business plan can be explained simply as an outline of your business tasks and goals that will guide you in defining what needs to be done to achieve those goals. Whether you’re writing for yourself or for your investors, you need to do a planning process to know how to steer your business in the proper direction.
In large corporations, a formal business plan document is important to present to your investors, especially if you need to apply for a commercial loan. This way, you make your intentions clear about which direction your business is headed and the plans you need to do in order to expand and profit from the business. Your business plan is an assurance that you are headed in the right direction and you have a contingency to tackle any challenges and risks that arise from doing your kind of business.
Just like an architect who lays out the blueprint for designing a structure that will act as a guide for building it, the same principles apply when making a business plan. In order to benefit and maximize your company’s potential growth, a business plan must be formulated to determine which factors have the capacity for growth and to minimize any mistakes in choosing where your business is headed.
Here are several reasons why you need a business plan:
Since you already have a general idea of what a business plan is, writing one actually poses a challenge especially if you haven’t tried making one before. In this section, we’re giving you the basic tips when writing a business plan:
There has been much debate about the viability of making a business plan, with both sides equally having valid points about whether having a business plan is really necessary or not. While this article doesn’t intend to be biased and doesn’t endorse any side, the feasibility of a business plan is being presented here in as balanced an argument as possible.
If your business is bigger than a typical brick-and-mortar store with several products or services spread across several places, chances are, you’ll definitely need a business plan. Even seasoned consultants and financial advisors will tell you how your business plan is important for the continued growth of your business. It would be disastrous if your company doesn’t have goals, growth and financial projections for its operations. A business plan not only outlines your business’s direction with regards to projected growth, goals, risk factors and profit projections, it’s also a necessary documentation when your company goes public with an initial public offering (IPO) to sell its stock to the public.
Unless your company really has more than enough liquid assets to finance its own growth and expansion, chances are, you would need to apply for a loan or invite investors in to finance your growth and expansion. The same goes with going into a partnership or joint venture. An investor or business partner would want to scrutinize the viability of your business to find out if it’s worth the investment or if it’s too risky to venture into through your business plan. It’s in these aspects where you’ll realize how important a business plan is.
Even if your business is not that big and you have no immediate plans of expansion or borrowing money, you’d need at least an informal business plan to efficiently run your business. Things like sales margins, order quantity, cash flow, new programs implemented and even upgrading your website need a quarterly update on a spreadsheet. You’d need to list these down, divided into qualitative and quantitative components. This way, you’ll be able to track down on the finer details of your business and do necessary corrections in areas that need improvement.
In order for your business plan to follow a coordinated format that can guide your company’s management team, your business plan should include the seven key elements. This is aimed to provide both vision and clarity in your plan with regards to goals and guidance. These key components are also meant to guide entrepreneurs who are writing a business plan for the first time.
To make writing your business plan easier, these seven basic sections will guide you to make a well-balanced business plan:
Basically, an executive summary is the first chapter of your business plan which gives an overview of all necessary information and detailed in key elements of the plan. It’s a formal introduction of your business and acts as a stand-alone document that essentially highlights your business plan. If you have several investors in your company, an executive summary gives them an overview of the direction of your business. It’s a way for them to evaluate the viability and profitability of your business. For this reason, it’s important that your executive summary is clear, concise and direct to the point. You must emphasize on the key highlights of your business but keep it brief as possible, with a maximum of two pages for your executive summary. In case an investor wants additional details after reading your executive summary, that’s the time you’ll need to submit a complete plan plus supporting data about your business.
A synopsis is the compressed form of your business plan. Just like making the chapter for market analysis, the synopsis basically covers the historical performance of your business and its projected growth that normally covers from three to five years. This is similar to the financial plan element of your business plan although your growth projection covers all aspects including sales and marketing besides financial projections. By making a synopsis, your business partners and investors will have a clear idea of your business strategy and growth projections in less than five minutes of readable material.
Here are the key parts when making a business plan synopsis:
Since you already have an idea about how to make a business plan and its key components, let’s explore how to make a simple business plan compared to making one in a comprehensive manner. This infographic will show you the comparison between making a simple business plan, which is a generalized form compared to a detailed business plan, which is complete and systematic:
Any company will agree on the importance of a well-thought of business plan especially before entering a new business venture. However, no matter how great your business plan is, if your company fails to pair it with an appropriate implementation plan, it’ll only guarantee the failure of your new business project. Since your company will be investing financially on a new venture, a great business plan plus appropriate implementation approach will make your investment worth every cent. In this section, we’ll provide you a rundown of the proper business plan implementation.
Take for example the division of tasks and assignments below:
Just like any commercial infrastructure, your company should also have an efficient blueprint of your business. In this case, an operational plan is considered to be the blueprint of your company’s business processes. This is most helpful especially if you’re operating a small and medium enterprise (SME). A business operational plan serves as your roadmap to achieving your business goals and a cheat sheet to overcome any obstacles you may encounter.
In this section, we’ll give you a clear idea of the key components of your business operational plan.
The objectives of your business plan can make or break the potential success of your business. If you want to know what your business plan objectives are, simply close your eyes and think about the things you want to achieve in the following years. Do you want to expand your business? How about launching a new product and/or services for your target market? Are you planning to build a business empire that would be the envy of your competitors? The answers to these questions hugely depend on the objectives of your business plan!
Keep in mind that a plan without clear objectives makes achieving your business goals impossible. When determining your set of key objectives, be sure that it’ll complement with your current business strategies. We have provided a short yet significant list of the key objectives to include in your business plan.
Your business plan will fail if you don’t have an effective strategic approach to its implementation. If you want your business plan to succeed, you need to create and map out a flawless strategy that will support your objectives. Keep in mind that no matter how expertly crafted your plan is, if you don’t have any strategic plan to execute it, it will remain a useless piece of paper. In order to maximize the full potential of your business plan, we’ve listed down different strategy approaches:
Determining the correct timeline for your business plan is essential for its success. However, the journey in developing and/or implementing your business plan may depend on the factors that you encounter along the way. While your business plan is different from the others, there is no standard rule on how long it would take you to develop it. You must make sure to move at a pace that is reasonable for the whole team. You should keep in mind that setting your timeline should reflect the capacity of your whole team to accomplish the plan at a given time.
In this section, we’ll provide you with some useful basic business plan timeline. You will need to include the following:
Create a new spreadsheet for the years two, three, four, five, and so on and repeat the process.
While we’ve discussed in previous chapters how to make a business plan including a table that shows both general and comprehensive business plans, it always helps to break down and simplify a business plan and get tips from a “cheat sheet”. In this chapter, we explore the simplest and easiest ways to make a business plan. This is especially helpful for startup businesses and first-time businessmen who need to formulate a business plan for the very first time. This business plan for dummies will simplify things for you in a process that is easy to understand and contrive.
Before formulating your business plan, it’s essential that you do the following steps:
Step 1: Implementing a Business Plan and Making it Work
A business plan is intended to let you have a complete grasp of every aspect of your business surroundings. After all, the only way to ensure your business survival and growth is to know your business inside and out. To make your business plan work and assure your company’s future, you must include these elements to help you be prepared:
Step 2: Knowing the Major Parts of a Business Plan
As discussed in earlier chapters, a business plan must be divided into seven key parts in order to be complete and effective”
Step 3: Business Planning Checklist
A business planning checklist is essential for each key element of your business plan. This is intended to be thorough and meant to be answered when formulating a business plan. By having a checklist and tackling each important question, you’ll be better prepared to meet any possible challenges that could arise from doing business. In this section, we’ll explore the common questions that need to be answered in each of the key elements:
1. Executive Summary
– How do you intend to make your business succeed?
– What kind of business do you want to start?
– How much capital is required?
– What is the projected return of your investment?
– How viable is the business venture?
2. Business Description
– What type/kind of business are you pursuing?
– What kind of products/services will you offer?
– What kind of business venture is it (new, growth and expansion, seasonal, year-round,etc.)?
– What is its premise for success?
– What is its growth potential?
– How unique is your business?
– What is the product/service?
– What is its value proposition?
– What is the right name for the product/service?
– How will you sell, distribute, and service your product?
– What are the options and can your product be customized?
– Who are your pilot targets to gauge consumer reaction and product acceptance?
– How do you determine the pricing model?
– Is the market significant enough for your product/service?
– Is it a growing market? – How big are your competitors?
– How much market share are you anticipating?
– Is your market price-driven?
– Is the market seasonally driven?
– What’s the ideal location for your business and why?
– What are the necessary requirements to produce your product/service?
– What facilities or equipment do you need for production?
– Who and what type of suppliers do you need?
– What kind of transport delivery do you need?
– What type of available labor do you need?
– How much is the cost of production for
6. Management Organization
– Who is/are capable of managing the business?
– What leadership qualifications do you require?
– How many employees do you need?
– How will you structure your management organization?
– Do you need any consultants or specialists to help the management team?
– What form of ownership do you think is suited for your business?
– What kind of licenses and permits do you need?
– How much does it cost to open the business?
– What is your projected monthly operating cost?
– What is your total financing cost?
– What is your potential funding source?
– Do you need a loan, how much, and where will you secure it?
– How much sales earnings will you need to make a profit for the first three years?
– What are your monthly, quarterly and yearly estimated business income?
– How much will your break-even point be?
– What will be your projected assets, liabilities and net worth during the course of your operation?
Step 4: Having a Basic Financial Statement
One of the essential parts of a business plan is, of course, a financial statement. Your financial activities should be recorded to keep track of all your finances, make economic decisions and check on your financial position. These four basic financial statements should be included in your business plan financials:
Step 5: Researching Your Target Market to Determine Customers
There are several ways to research and determine your target market in order to get a clear picture of what your customer base will be. The following characteristics for your market research should include:
Step 6: Knowing Your Competition
You may have trouble thinking of ways trying to find out information about your competitors but there are several ways to do this. It’s amazing how much you can learn about your competitors by looking for information online. You can use the major search engines and learn how your competitors do their product or service promotion and marketing. Besides web searches, you can ask industry associates for any information that they may know regarding your competitors. Besides that, you can do the following:
Step 7: Avoiding Mistakes That Lead to Business Failure
For most startup businesses, committing a fatal mistake usually means total business failure where there’s no more hope of recovery. Both these fatal mistakes must be avoided and or corrected before you can start with your business operation:
As seen in steps 5 and 6, both of these can be addressed by researching beforehand how your products or services can penetrate the market. By properly researching on your business’s major areas of concern, you’ll be able to avoid the pitfalls of what others have experienced. Knowing your competitors and learning to adapt instead of trying to find ways of edging them out is a more realistic way to run your business.
Depending on your business, you may need to use a single type of business plan from among at least six kinds that will fit your kind of business. While the usual form-follows-function principle applies to every type of business plan, you may need to use the kind of plan that is tailor-made for your kind of business. To guide you with these kinds of business plans, here are the six primary types of business plans:
Starting a new business entails a lot of preparation and hence, a detailed plan for your business. In a startup business plan, all the basic essentials you need to consider such as your company description, products or services you intend to offer, your market research evaluation, and financial analyses that include income and cash flow forecasting should be included.
A standard business plan includes all the seven essential parts of the business plan that have been thoroughly discussed in previous chapters such as the executive summary, company description, products or services, market analysis, strategy, organization and financial plans. It has to be brief, however, but you may thoroughly present it in its entirety if you’re planning to have business plan event to be presented to investors, lenders or business partners.
Internal business plans are specific to your business team directly involved in your company’s operation. It is used to describe and inform members of your company about the current state of operations that include operational costs, market analysis, profitability and areas for improvement. It’s also useful to make the company aware of the current financial health of the company, whether it’s making any money or if the current business climate is negatively affecting your business’s income.
Like an internal business plan, an operations business plan is also meant to be made for your business team involved in your company’s business operations. It focuses on your company’s goals and objectives, each company team member’s responsibilities and priorities to track projects, know the results of each implemented programs and meet projected deadlines. Basically, an operations plan tracks each member’s responsibility and what they are doing to achieve positive results for the company.
A strategic business plan is also an internal plan that is meant as a comprehensive map to emphasize each team member’s responsibilities. It focuses on the collective effort of management down to the common employee’s contribution to meeting the company’s goals and objectives. Its key elements include the following:
– Vision and Mission Statement
– Definition of Critical Business Factors
– Implementation Schedule
– Strategies to Achieve Objectives
A strategic business plan illustrates the big picture and is meant to encourage each member of the company to achieve the company’s goals.
A growth plan may be used for both internal and external purposes. Whether a new product or service is being offered or an expansion to new areas of your company’s operations is proposed, a detailed forecast of sales and expenses is needed as a financial projection for growth and expansion. As an external feature, growth and expansion plans are detailed descriptions needed to satisfy investors, business partners or loan requirements to guide them on your company’s potential for success and profitability.
If you plan to expand your business and want to attract potential investors, you would need to present a business plan that is neat, well written, and as comprehensive as possible. To avoid common mistakes mostly associated with poor business plans that do not make the grade in attracting investors, the following business plan mistakes should be avoided at all costs:
Developing a business plan for a startup business need not be complicated. Since it’s always advisable that you make a business plan prior to operating your business, the Tennessee Department of Treasury has an excellent business plan model template in PDF that can be downloaded for free:
Business Plan for Startup Business
Being an entrepreneur necessitates a lot of fortitude and foresight. After all, it’s not easy risking your money on a venture that makes no guarantee of success. Having a business plan may mitigate the risks but you need to be cautious since as helpful a business plan may be, it’s not the be all and end all of business solutions. Nor will it guarantee that you can lure in investors towards your business. To avoid the pitfalls of any business disillusionment brought about by unmet expectations in making a business plan, here are some common myths that you should be careful not to believe in so easily:
Myth 1: A Business Plan is Key to Success
As good as this may sound, a business plan is not a road map for success. If anything, a business plan provides a clear direction where a company is headed. It outlines what needs to be accomplished and gives everyone in the organization a clear view of their tasks and the goals they need to achieve.
Myth 2: A Business Plan is a Sure Way to Attract Investors
Unless your company really has a strong growth potential, you may not be eligible for venture funding. Venture funding is meant to provide capital for startup and small and medium businesses with high risk and high return opportunities. However, most businesses make a mistake of not making their business plans comprehensive enough but instead rely on business plans that are big in words but few in important details.
Myth 3: A Business Plan Will Not be Read in Detail
This is only true if your business proposal is so poorly written and filled with typographical and grammatical errors that investors and lenders would tend to put it in a trash can instead of reading it. However, if your business plan is well written and convincing enough to warrant an investor or a lender’s interest, you can bet your last dollar that your plan will be scrutinized carefully and read in detail.
Myth 4: I Don’t Need a Business Plan at All
Full of self-confidence, a lot of entrepreneurs think their business plans are in their heads and that they don’t need one that is written. The problem is, there are a lot of uses for a business plan besides just presenting it to be read by a business partner, investor or lender. For one, your financial statements need to be presented not just for tracking your financials, but by the government’s tax collection agency to determine how much taxes your company owes among a lot of other things.
Myth 5: A Business Plan is Too Time-Consuming to Make
While it’s partly true that a business plan takes time to make, brainstorming ideas with your team often do wonders in formulating goals and objectives. Identifying problems early and pooling your team’s ideas together often do wonders since each team member’s ideas are uniquely different from each other. Investing in planning is preferable to diving head-on into the market with no clear objective in how to succeed in your venture.
Oftentimes, when a large corporation needs to buy products from outside sources, it will require bidders to submit a business proposal. In today’s cutthroat business competition, your ability to write a powerful and effective business proposal could mean the success or failure of your business. The art of writing a persuasive proposal is an important element in expanding your business and establishing impressive relationships with your clients.
It’s no secret that writing a convincing business proposal can be an extremely challenging task. A powerful business proposal should effectively explain and provide details on how your company is more able to meet the needs and standards of the client and persuade them into choosing you instead of your competitors. In this section, we will provide you a step by step guide in presenting a business proposal that will help you win more clients.
We all know how a business proposal can help you secure and close a deal with a prospective client. A well-written and structured proposal ensures snagging a client with ease and confidence. Write a poor proposal and you’re more likely lost your chances of securing a new client, no matter how great your offer is.
But just like any other forms of business document, your business proposal should have a format. Whether your purpose for writing is for a starting-up a business venture or securing a contract with an investor, it is highly crucial to make sure your document is formatted in an appropriate manner. However, there are cases when the RFP requires the bidder to follow the specific a format. But when no format has been specified, make certain that you follow this standard business proposal format:
A business plan and business proposal are two different, yet important forms of document in the business world. As a business entrepreneur, you should not confuse yourself with their distinct meanings and unique purposes. A lot of times when you do a research on the Internet about how to write a business proposal, it will display results predominantly about writing a business plan. Here is an infographic depicting the difference between a business plan and business proposal:
Not only job applicants need resumes, your company does too, but in the form of a business profile. Just like a basic applicant resume, your business profile should contain basic information about your company, such as:
Your business profile serves as your introduction to your business/company and inform your target market about the products and/or services you’re offering. That’s why it is highly critical to have a clear purpose when writing your business profile so that you can provide clear details on why clients should be working with you.
Unfortunately, there are several entrepreneurs who aren’t quite familiar how a business plan is different from a business profile. And since we have already discussed the difference between a business plan and business proposal, in this section, we’ll know how a business profile is different from a business plan. Take a look at the infographic below.
The quality of your presentation can be your vehicle towards the success or failure of your business plan. Since you’ll be discussing the elements of your business plan with prospective investors, it’s highly recommendable to avoid boring templates with poor designs. Instead, use a professionally designed business plan PowerPoint template as your first shot to impress and engage an investor throughout your business plan presentation. Here are a few reasons to use PowerPoint templates:
Utilizing templates can give you an idea on how to draft your own business plan, based on the examples provided below. Choose from this collection of expertly crafted business plan PowerPoint template for ease and convenience.
Business Plan PowerPoint Template
Sample Business Plan
Business Viable Plan
Business Service Plan
Strategic Business Plan
A great marketing plan is an integral part of your business plan because it determines the elements significant for the growth of your business. It’s your roadmap to attracting and increasing your clientele and bringing your company closer towards the doors of success. Below are the importance of writing a marketing plan:
Don’t know how to start? Below are a couple of marketing plan business template samples that you can use as guidance when drafting your own marketing plan.
Marketing Plan Business Template Sample
Strategy Marketing Business Plan
Small Business Marketing Plan
It is important to include in your business plan how your marketing efforts and ideas are essential for the success of the new business venture. A great marketing plan doesn’t only define the specific tasks and responsibilities of your marketing management, but it’s also a perfect way to allocate your resources in the best and practical way.
Please check these examples of a marketing plan that are offered in this section. Download and use them as your references for your marketing plan.
Marketing Plan Example
Digital Marketing Plan Template
Restaurant Marketing Plan
Non Profit Marketing Plan Template
One Page Marketing Plan
No matter how small your new business venture is, you will absolutely need a project plan. Sometimes, your excitement to push your venture without proper and thorough consideration can lead to disastrous results. That is why it’s not advisable for business owners to take project planning for granted. Here are several reasons why you should write a project plan:
To help you develop a well thought-out project plan, take a look at the examples provided below.
Project Planning Template
Common Project Plan Template
Project Communication Plan Template
Sample Project Plan Template
Annual Project Planning Template
The primary and most crucial function of management is planning. Thus, a management plan is another business blueprint that shows how your company will be operating on a day-to-day basis and over the long term. It often includes factors, such as handling of finances, the actual work and performance of the people in your company, and its general philosophical and intellectual groundwork. Found below are a few samples of strategic management plans which you can incorporate in your business plan:
If you’re looking for highly effective references to guide you in writing a management plan, please check out the examples provided below.
Forest Management Plan
Operational Change Management Plan
Software Project Management Plan
Change Management Plan
Quality Management Plan
A business development plan doesn’t only guide you in the creation of your company’s purpose, goals, mission and vision, and values, but it also acts as a guidance for all the people working in your company. The strategic nature of development plan allows your business to focus on specific areas, such as:
And since a development plan is an integral part of a business plan, you will need references that will help you draft/write your own. You may want to use the following development plan examples as your guidance.
Individual Development Plan
Leadership Development Plan
Career Development Action Plan
Professional Development Plan
Staff Development Planning Template
Also known as a statement of work, the work plan is an introduction to a project which provides comprehensive details how a group of individuals proposes to accomplish the work-related projects at a given time. It is basically an outline or summary of goals relevant to the project and a timeline for project completion and cost. A work plan isn’t only limited to employees, business owners, managers. and business consultants also require a work plan. However, its purpose changes depending on different circumstances.
Make sure to check out the different work plans provided below. They are available for free download so that you can use them as guidance when drafting your own business work plan.
Sample Work Plan Example
Annual Work Plan
Project Work Plan Template
Final Work Plan
Construction Work Plan
Business planning often involves large projects which are tough to accomplish. But with the help of an action plan, you can break them down into smaller parts and subdivide the responsibilities to your employees. Thus, an action plan is an important document that should include the actions to be taken in order to achieve your business plan goals.
Use the professional action plan examples provided below. They can be downloaded for free and make them your reference when writing your own action plan.
Smart Action Plan
Emergency Action Plan
Personal Career Action Plan
Incident Action Plan
School Action Plan
A strategic plan is your roadmap that points the direction towards the success of your business. Without a strategic plan, the direction of your business can go out of track and can lead you farther from success. It is a powerful tool that you can use in making daily decisions, assessing the growth of your business, and changing the approach, if you need to. Additionally, it can also help you think outside-of-the-box when accomplishing the goals in your business plan.
If you’re looking for effective, yet realistic strategic plans for reference, make sure to check out the examples given below. Download them for free and use it as your guidance.
Strategic Plan Template
HR Strategic Plan
Sample Strategic Plan
Strategic Communication Plan
One Page Strategic Plan Template
When you’re looking to present a new business venture to prospective investors, you’ll definitely need a compelling company plan that details the different resources or factors needed to achieve your business goals. Depending on the nature of your business venture, your company plan should include the development cost of your proposed products and/or services.
For reliable references, you may want to view and download the following examples of professional company plan below.
Company Mobility Plan Example
An implementation plan is a competent tool you can use to support your strategic plan. Its main purpose is to subdivide each strategy into simple steps and assign them to different individuals or groups. To keep track of the progress, you’ll have to set a timeline for the completion each responsibility. While the process may sound simple, writing an implementation plan can be challenging and difficult because you’ll need to pair each step with a working strategy. That’s why we have provided implementation plan examples that you can use as your guidance in drafting your own plan. Please check out the examples found below.
Sample Implementation Planning Template
Apprenticeship Implementation Plan
Strategy Implementation Plan
Health Visitor Implementation Plan
Annual Implementation Plan
There are a number of startup businesses that outsource their service support to other companies. If you’re running a startup business that offers services to other companies, it is vital for you to be aware of its benefits and disadvantages. A great way to start is by reading professional examples of service plans, which are found below. Feel free to download the examples provided and make them your guide in writing your own service plan.
Individual Service Plan
Business Service Strategic Plan
Service Improvement Plan
Health Service Plan
Family Service Plan
A sales plan is another important document to be included in your business plan as it sets out your sales target and details the strategies needed to accomplish your target sales. It serves as standard protocol for your sales team in achieving targeted sales in a given timeframe. An effective sales plan also helps:
Below are some examples which you can use in developing, implementing and reviewing your own sales plan.
Sales and Marketing Plan
Sales Incentive Plan
Sample Sales Business Plan
Sales Development Plan
Sales Action Plan
No matter what the nature of your business is, your budget is always considered to be an essential component in your financial statement. That’s why you’ll need a budget plan to keep track of on your finances and how they impact on your business decisions and daily operations plans. Here is a short list of why budget planning is important for your business:
Writing a budget plan can be a delicate process because it affect your overall finances. To make things easier for you, we have provided a few budget plan examples which you can use as your reference when writing a budget plan for your business.
Budget Plan Template
Yearly Budget Plan
Unit Budget Plan
Travel and Budget Plan
Sample Budget Plan Template
When running a business, you’ll need people for its day-to-day operations. As a businessperson, it’s vital to invest in staff training to help your people carry out their tasks effectively and competently, and avoid human errors as much as possible. A well-structured training plan is a great way to develop and promote a thorough and effective class by identifying different staff needs.
If you want to know what an effective training plan is, check out the examples that we have provided below. They are available for free downloads and you can use them conveniently as your guidance in designing your own training plan.
Employee Training Plan
Cycling Training Plan
Individual Training Plan
Physical Training Plan
Corporate Training Plan
Making a business plan should not be feared nor should it be considered a hassle to every entrepreneur. Instead of viewing a business plan as a burden, consider it as a guide through which you can improve your business and meet your goals and objectives. Doing business should not be like driving at night through a blizzard with no headlights on. That would be a recipe for disaster and you wouldn’t want your investment to go down the drain. Rather, let your business plan act as a paradigm for where your business will be headed through your journey of success or failure. Both can be a yardstick by which you can improve your business plan to adjust accordingly. Success and failure are often intertwined with each other but with a business plan, you’re better armed to ride through a storm and come out unscathed.