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A business plan is one of those things that many people try to avoid when starting a business. When you try to research why you should have one or how to write one, you’ll most likely get results that make a business plan sound complicated, tedious, and unnecessary unless you’re looking for financing or investors. However, a business plan is a great asset to anyone serious about being successful in their business ventures.
Unless you are applying for financing, a business plan doesn’t have to be a long, polished document. It could just as easily be done in bullet points on index cards or the notes program on your BlackBerry. Most of the value of a business plan to you, the business owner, is in the research and thought work that goes into drafting it. Below are some of the basic components you’ll want to have in your business plan.

Mission

What is the purpose of your company? Who do you plan to help with your products or services? What is the problem that you are providing a solution for? How will you be helping this target market?

Vision

Think about where you want your company and your brand to be in three, five, and 10 years. How much sales volume will you be doing? Will you have expanded market share, market reach, or products or services? How will your company have grown or changed to accomodate or influence this growth? How does the change affect you and your personal life?
There’s a concept know as te law of attraction. Visualizing where you want to be in the future and reading over this, internalizing it, making it part of your routine can have amazing power to influence things to help you achieve the vision that you have created., whether you realize it or not. I’ve experienced this first hand in my business and it’s truly amazing.

Financial Assessment & Predictions

Take stock of the current state of your finances. What are you assets vs. Liabilities? Profits vs. Loss? Are you in debt? What is your project income over the next one, three and five years?
Think about the vision that you have just completed. What will it take to get you there? Will your current sales get you there, or will you need to increase sales volume? Will your current staffing situation get you there, or will you need to consider hiring employees or freelancers?

Market Analysis

Think of your target market – the people who’s problems you’re going to solve, based on your mission statement. Where are they (location)? Who are they (demographics)? Who are your competitors? What are their strengths? What are your (or your products’) weaknesses?

Marketing Strategy

Now that you’ve identified who your customers and target market are, when, how and how often will you contact them? Will you see them in person at networking events or industry meeting? Will you send them newsletters and postcards?
How often will you send press releases to the media? What criteria will determine if an event is worthy of a press release? Who will you send releases to? Have you identified a media contact list? Do you have a media kit ready if someone asks for it?

I know this seems like a lot, but each topic builds on the previous one. If you approach it step by step, you’ll likely find youself finishing quickly and with a clearer understanding of where you are, where you’re going, and how to get there.