Following on from last week’s article on starting a new business, we’ll be providing further guidance and detail on some of the steps over the coming months.  

First up, the Business Plan! We know that one of the biggest challenges when starting a new business can be consolidating all your thoughts into a structured business plan. Thankfully there are some great resources to assist with this process. 

Our team have pulled together a few tips to help steer you in the right direction:

 ☑️  You might not have all the answers to every point on the plan but just get started and use the gaps as prompts to research your business and the market in which it operates.

☑️ A business plan should be a living breathing document that can change over time as more information comes to light or due to changing conditions.  Referring to it regularly will ensure that your business is on track to meet your goals.

☑️ A business plan is not just for new businesses.  Planning is a vital function for all businesses to confirm that your activities and actions are propelling your business in the right direction.

The Business Australia website has a great tool and template for preparing your plan, with excellent prompts for the topics that should be covered in a comprehensive plan.

 Learn more: https://business.gov.au/planning/business-plans/develop-your-business-plan

Our team are here to help you develop and test your business plans and build systems around them to place you in the best position to succeed.

If you are considering starting or acquiring a business and need advice or support, please contact our office.

The information provided in this article is general in nature and does not take into account any person or entity's particular financial situation or needs. Please contact us for advice specific to your circumstances.

This information is current at the time of publication and further updates may have occurred since that date.