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Success in business can be greatly enhanced through careful planning to mobilise your business' resources to meet and exceed customer needs. While all businesses plan in some form, there is a great divergence in the quality of planning, which in turn impacts on the usefulness and effectiveness of the plan. There are many resources that you can access to help with effective planning. Some businesses will prefer to engage external expertise to assist this process while others engage in an active process of learning by attending forums, focus groups, joining industry associations and attending management courses and seminars. Department of Employment, Economic Development and Innovation and Wide Bay Burnett Area Consultative Committee run a number of activities where participants learn through sharing and by listening to experts in the field. For more information on seminars and workshops, visit Wide Bay Burnett Area Consultative Committee website,and the DEEDI website: www.dtrdi.qld.gov.au/dsdweb/v3/guis/templates/webapps/course_diag/gui_cue_course_diag.cfm?id=22064). Effective business planning is essential for your business. It sets the direction for your business and keeps you on track once you're up and running. Depending on what type of business you intend to start, your business plan could include these elements:
- executive summary - a one-page overview written after your business plan is finalised
- introduction - explains the purpose and objectives of going into business
- marketing analysis - looks at the industry you are entering and how you fit in
- marketing plan - your marketing strategy
- operations plan - how you'll set up the business, i.e. structure, location, regulations
- management plan - how you'll manage your business
- financial plan - how you'll finance your business, costing and financial projections
See How do I write a business plan? on the Federal Government Business Portal website, (includes links to templates for Business Plans and Marketing Plans) for more information on writing an effective business planning document. Department of Employment, Economic development and Innovation(D.E.E.D.I)- via the business hotline Ph: 1300 363 711 and online through the SmartSmallBusiness website offer a range of tools to assist with business planning. A business planning template called Easy Plan is available through the business hotline or the Maryborough DEEDI Centre for a small fee. And remember - business planning is an ongoing business activity - you should regularly review and revise your business plan.
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