How to create the perfect business plan in 10 steps

Follow these ten steps to create a clear plan you can share with your Accountant.

Every business needs a plan, and creating the right one can sometimes feel like a challenge. But the benefits are definitely worth it.

A business plan helps you get your ducks in a row and also lets us know how we can best advise you.

So, how do you create a good business plan?

These ten steps will help you get started:

1. Create an executive summary

2. Define your customers

3. Evaluate the target audience

4. Identify your opportunities

5. Understand the competition

6. Build a simple financial plan

7. Include an outline marketing plan

8. Plan your operations

9. Get the right people, advice from your Accountant and maybe getting a mentor would be great

10. Keep it simple, it doesn’t need to be over complicated

Remember, clarifying your ideas by writing them down gives them substance and structure. Feedback from others is also crucial in business planning, and advice from the right people is the key to success.

Read more on Xero’s ten steps to a perfect business plan and start planning your business around your strengths.