Many Virtual Assistants today start their businesses without ever making a business plan. Many have questioned, Do I really need a Business Plan? The answer is always yes. Business Plans are a terrific way to set goals and focus to business. It allows you to visually see:
- What your vision is?
- Who is your audience?
- What services are you offering?
- Who are your competitors?
A business plan truly allows you to focus on the road for your business. It is also important to remember that business plans also need to be revised as well. During the slow months or during the breaks it is a good time to sit down and either write your business plan or begin the revisions. These do not need to be professionally written and using one of the many Microsoft Office Templates for this function will work just fine. There are also many other templates that can found on the internet as well.
If you are later going to actually look for funding or additional capital, then having an up to date business plan is important. Most financial institutions, the SBA and even Angel Investors will ask for this document. It is a good idea to add your current client’s information as well as some testimonials to help build credibility.
The fact is- in the beginning stages, nothing needs to be fancy. The purpose is to add clarity to your business. As many experts say, when you put in writing you will bring your business into focus.
It is also a good idea to have a short version of this plan. This is a great document to share with your clients and also any subcontractors you may have in the future. Simply highlighting who your ideal client is, what is your vision, why you are unique, and what is your 3 year plan in a few statements is more than enough for this purpose. This also will hold you accountable to what you have set as your goal- and allow people to know that you are a serious business person.
Have more questions on writing a plan or other things that a starting VA needs? Contact us.