A good business plan is a helpful tool to help you keep organized and on track as your setup your vinyl graphics sign shop. Like a good map, it can help you get where you want to go. Your business plan will serve as a blueprint that will help you visually layout your business strategy and allow you to make changes on paper first before you implement things for real. A good business plan should accomplish the following goals:
-A good business plan gives your sign business a specific path to follow. It will help you create your business the way you want it to be.
-A good business plan can communicate your business strategy to your employees and customers. It can establish your plan for the company and will let you to measure your progress using your plan as a benchmark.
-A good business plan can help you grow as a sign business owner by helping you in concentrate on things like competition and growth opportunities. It will force you to change your though process from that of a standard consumer to that of a business man.
-A good business plan provides your lending institution or partners with insight into what your goals and objectives are.
-A good business plan prepares you to manage your business, rather than letting your business to manage you.
-A successful business plan sets realistic goals, is factual and objective, and presents your goals in measurable terms.
Your Business plan can be laid out in many ways and can vary in length, however, all successful plans
convey the following information clearly and concisely:
-The nature of your business (what product or service is your company going to provide the public)
-Your business’s goals and objectives. (where do you want to be in 3 years)
-The steps you plan to take to achieve your objectives
-An action plan for implementing your plan
-Anticipated potential problems and strategies for overcoming them
Your business plan should answer the following questions.
-Who are your potential customers?
-Why will they purchase your product or service?
-What is your marketing plan?
-Who are your competitors? What are their strengths and weaknesses and how will you compete with them?
-Which of your management skills are weak. How will you compensate?
-What are your current financial resources?
-What is your projected financial condition of your company over a set period of time!
As stated before there is no one “correct” format for a business plan. However, most effective business plans include the same basic information. More important than a specific format, however, is your ability to present your ideas in a clear and concise manner. Many people would like to skip having to write out a plan but doing that is like leaving on a trip with no map, no compass and no directions. You simply do not know where you will end up.