Starting Up An Ecommerce Website - Part Two Of The Business Plan
When you start up any business, youll need a business plan to demonstrate to investors
your capabilities and to help you naturally expand as a business. A business plan is way of summarising your strategy towards your goals, as well as demonstrates the aims you are fulfilling and how you are so far. So far we have covered your aims, research and unique selling point, now we move onto finance, employees and skills.
Posts Held: Here you need to outline your teams posts held within the company. Start off with management by describing what the duties and responsibilities the manager has. Then list the skills, relevant qualifications and appropriate experience.
Do this for each member of staff, outlining each sector they are responsible for, for instance supervising orders, marketing, finance etc. Also, outline the staff structure, this can be done by a diagram and explanation. This will help to show the structure of your organisation and how it works.
Moreover, if you are intending to expand, you may need to employ more staff. Outline what positions would be made available and how many members of staff you will need.
Activities: Next move onto to describing the daily activities that you and your employees encounter. Also, give an average on how frequently these occur. This section will enable you to see if there are any more activities that can be incorporated to make your business run smoother or expand. It will also help you examine the frequency of the activities and if you need to invest more time in these.
Yearly Financial Projection: This is for most the most difficult section as you need to predict your yearly incomings and outgoings, as well as include business risks such as loans and assets. This section is usually done visually by a flow chart, which shows the incoming money from profits and other sources and the outgoings (office, staff, phone lines, stationary etc). Obviously, if you are preparing for expansion, you will need to show where the investment will be coming from and how it will be paid back. If you are to find investors or take a loan out you must prove that you can profiteer and/or pay the loan back.
In addition, provide copies of any documentation, such as proof of website or contract for offices in an appendix. This will just prove that your business is up and running. You could also provide, if you do have them, the past years finances. This should enforce the fact your business is doing well and you are ready for expansion.
A good business plan is key to proving to investors or banks that you are a worthwhile investment. They also help you to plan how to reach your goals, enabling you to expand your business strategically.
by: Marie Coles
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