A Business Plan – Do You Really Need One?

by Shirley George Frazier

When you think of writing a business plan, does your stomach get queasy?

How difficult do you think it is to write a plan? More importantly, do you really need it, or can your gift basket business be successful without it?

The answer is easy to understand when comparing building your gift basket business to building a house. Without the architect’s blueprint, you’d have a pile of boards and nails but no way of knowing how to construct the home.

That’s not the type of business you want to operate, right?

Crafting a gift basket business plan is time well spent. It’s the best way to determine:

  • Who your customers are (so you don’t buy snacks and gifts you cannot sell)
  • Which corporations are the best buying candidates (why waste time marketing to companies that won’t buy?)
  • What marketing methods will increase your sales (online, offline, printed materials – which is the better choice?)

One important ingredient I learned in library books, years before starting my business, was the need to “see” my success on paper, and that meant writing a business plan documenting my mission, strengths, financing, product sources, potential customers, direct competitors, and future growth plans.

My business plan began taking shape when I sat down in a quiet spot with a pen and yellow-lined paper to outline the details one by one. That’s all you need today unless you opt for a computer-based business plan, which is also acceptable.

That same plan, with updates for today’s business climate, is what I share with you in Chapter 2 of the book entitled What It Takes to Succeed. The sample business plan covers 25 pages, providing you with a complete look of how to create your own which can start with as few as three pages!

After you order the book and see the plan, starting on page 27, share your comments here about the challenges of creating your business plan so we can ace this hurdle together!

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