A business plan is a structured document that outlines your primary business goals and how you want to reach them within a specific time span. Business and Marketing plan is there to help you—as well as others, like investors and most importantly your team—in understanding how you intend to generate income to build and maintain your company.
A business and marketing plan usually provides information about your priorities, goals, marketing and revenue plans, and financial estimates.
7 reasons why you need to create a Business and Marketing Plan:
1. Provides a structured way of organising your thoughts and clarifying your idea. 2. Helps you set out your goals and spot any potential problems in achieving these goals. 3. Gives you a clear strategy to follow when things get busy. 4. Is often essential for securing external finance for your business (and is required if you’re applying for a Start Up Loan). 5. Allows you to measure your progress as you go along. 6. Ensures all of your team are working towards the same vision. 7. Helps you plan for the future.