This week, we're talking about what goes into a business plan đź“ť
Creating a business plan can seem daunting but it doesn’t have to be! It’s a great way to get your thoughts and ideas onto paper.
Together, we’ll look at why you would need a business plan and what needs to go into one. You’ll be surprised to know you’ve probably already thought of most of it!
In advance of our session, please download your workbook and complete the pre-work assignment, including watching videos featuring founders from the Buy Women Built community. Please set some time aside for this and come prepared to the live session ready to share your reflections and outputs 💪
Your pre-work assignment
- Complete the reflection exercise đź’
- Watch the videos below where 5 amazing founders from the Buy Women Built community share what went into their first business plans – jot down your reflections and ideas ⬇️
- Start creating your own plan using the template đź“ť
Chika Russell, Founder of Chika's
If you haven’t yet started working on your business plan, don’t worry! It’s something you can build on as you develop your idea.
Vanita Parti, Founder of Blink Brow Bar
Start with your proposition – what will your business do? What will it look like? What’s happening in the market? Who are your target customers? How much financing will you need to achieve your propostion?
Thea Green, Founder of Nails.INC
Putting together a business plan is a great way to get all of your thoughts and ideas organised and allow you to develop them. Thea used a template (you’ve got one in your workbook!) and filled out each section. This will allow you to answer some of the questions you’re thinking about and open up more that you hadn’t thought about.
Joyce & Raissa de Haas, Founders of Double Dutch
Your first business plan doesn’t need to be too detailed. Include information about your idea or products, your market, and your target customer. Creating the business plan prompts you to formalise some of your thoughts.
Amanda Thompson, Founder of Thompson&Scott
Your business plan will evolve as your business launches and grows so don’t feel like you’re bound to what you put in your first plan.