A small business plan helps you define your mission and goals, anticipate problems before they start, and lay out a roadmap to success. This document will be crucial to guiding your company and preventing issues while providing lenders and investors with the information they need to make important decisions. Here are a few tips for creating an effective plan for your small business.

How to Write a Small Business Plan

1. Start With Research

Every point included in an effective business plan is backed with facts and step-by-step breakdowns of how you will meet each goal. To ensure you are as detailed as possible, start by conducting some research. Consider reading the plans of other small businesses to get a good idea of where to begin. Other small business owners may be willing to share their plans with you, but you'll find virtually endless examples on the internet. 

Consult tables of contents and indexes to find those parts of a plan that are relevant to your business. Study the wording, structure, and action plans each company has laid out. Research your competitors also so that you can include points about how your business will compete or best them in the current market.

2. Open With an Executive Summary

An executive summary is the first page of any business plan. This is where you pitch your business. It typically includes a mission statement, a short description of your products or services, and a brief bit about your projected financial growth. 

You'll go into more detail later in the plans, but this section is the place to grab a reader's attention and make them want to read on and learn more about what you offer. In the subsequent pages, break down your goals, products and services, marketing and sales strategies, financial analysis and projections, and how the business fits into the current market and stands apart from the competition.

3. Include a Table of Contents

A table of contents helps readers quickly find the information they need. This should be the last step completed once everything has been written and organized. Include an overview of all major sections and topics covered in the plan, and add the corresponding page numbers for each.

When you need assistance with a small business plan, let Greater North County Chamber of Commerce provide you with resources to help you succeed. Since 1955, they have been serving businesses throughout Florissant, MO, and the Greater North County area. They offer small business development solutions and networking opportunities to set you on the path to success. Call (314) 831-3500 to learn more, or visit them online to join this thriving community.