Writing a business plan

Write a business plan, even if you do not need any finance or are starting a very small business. Many part-time entrepreneurs do not write a business plan because they do not think of themselves as real entrepreneurs. But they are entrepreneurs, and so are you!

We therefore recommend that you write a business plan in any case, and certainly if you are thinking of working full-time in the business in the future. Your business plan helps you to chart the future structure of your company. It gets your business off to a professional and efficient start. Your business plan should answer questions such as:

• Exactly which products and services am I going to provide and which am I not going to provide?
• Which customers am I going to target?
• How do I plan to get work?
• What is my hourly rate or sales price?