Business planning process for your self-employed career change

Having opted for a career change that takes you into self-employment, the secret of a successful start to self employment lies in sound preparation. We will help you, firstly, to write your business plan.

To get you started and to assist you we can provide a free business plan template or even an example business plan and then, secondly, we will help assemble the financial projections for the plan.

Prepare a Business Plan

The Plan for your business, prepared with some guidance and assistance as required, will typically contain the following sections:

The Executive Summary

A good executive summary must be well written. It should give the reader the essentials of the plan and encourage them to delve deeper. The objective of the plan is to confirm that there is a valid business with a real demand for your product or services,

Marketing Plan

The Marketing Plan is the most important segment of the plan. Your researches into the market will confirm that you should proceed with the full preparation of the rest of the plan. The Marketing Plan will define:

  • Your products and services
  • Target clients/customers/ market segments
  • Geographical coverage
  • Competition
  • Prices and Distribution policy
  • Promotional activity

This research will produce a marketing plan that confirms the validity of the market opportunity.

Who does what to deliver the products and/or services?

This is an exploration of the skills and people resources. This will confirm that you already have, or perhaps need to resource some additional skills.

Where and what do you need to be able to do it?

Most businesses require some physical resources whether it is a computer or transport and this practical examination will confirm that either everything is available or identify what is still required.

By following a free business plan template or an example business plan, you will explore all the important issues, but there is a skill and technique in preparing a Business Plan and because you will probably not have written one before, our help and experience will be invaluable.

Financial Projections

Your financial projections will be the evaluation of your plan in money so that you will know:

  • How much money you will need to start up and trade until you reach a satisfactor first level where the money coming in to the business from trading exceeds the outgoing costs of the business - i.e positive cash flow based on your plan assumptions
  • How profitable your business will be and confirm that you will achieve both the business and personal outcomes contained in your planning assumptions
  • What financial success will look like once you are trading and this will be measured by comparison

However, we do not leave you high and dry once you start. We want to support your in the growth and development of your business. We want to help you to achieve all that you possibly can from your business start.

Call us now on 0333-800-0898 (using your mobile minutes) from your mobile or you can call us on 0800 970 5545 from a landline. Alternatively, visit the contact page for other communication methods for your free preliminary consultation.

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