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Getting Started on your Business Plan – Part Two

Towards the end of last year we brought you an article on the importance of a Business Plan for SME start-ups, followed by some advice on how to get started when it comes to writing an effective business plan.  We came up with a great template to be used in a Business Plan and promised to break this down into sections to give readers comprehensive advice on each individual part of the overall plan.   Basically, a business plan template can be divided into four sections:

1.     

The Project Idea

2.     

The People

3.     

The Market

4.     

The Money

Last week we covered how to get the ball rolling when it comes to a business plan summary which you can use to get people hooked onto your idea.  Today, we’re going to take a look at the people involved.

Key People

You’ll need to determine who are the key people that you want around you to support you with the running of your business.  Are you going to hire employees or pay for additional services for your business (such as outsourcing some of the work)?  Do you think the support of a business mentor could help?  Will you need to avail yourself of the services of an accountant and a lawyer?  These are all key issues which will need careful consideration so that you can compile a comprehensive and realistic business plan.

Training

You’ll need to do a complete analysis of your training requirements if you want to make sure your new business gets off to a great start.  What sort of skills will be necessary for you to run your business successfully?  You may need to consider taking a short college course of some kind (perhaps to run concurrently with the launch of your business) or do some work experience somewhere else that will provide you with the skills and experience necessary to begin your new business with confidence. 

Business Management

What does your day to day job within the business entail?  If your new business sis a partnership, how do you propose to divide the work?  Do you plan to pay freelancers for support in your business or will you be employing members of staff?  Have you had experience of hiring people to work for you (or on behalf of somebody else) that will help you to choose the right employees for your business?  If you plan on using freelance services, where will you find these and have you had experience of hiring freelance workers before?  There are several websites that you could use to both find and recruit freelance workers which can make the process much easier.  Hiring freelance workers can sometimes mean working with people online, people that you never get to meet face to face.  However, it’s possible to hire freelance workers on a long-term basis and to build a successful working relationship with them if you find the right person(s).

Next week we’ll be taking a look at the Market and bring you the advice and information you’ll need to get your business off to a flying start.