Business planning fact sheets
Thursday June 17, 2021

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This article outlines the basics and structure of the business plan. Further articles will go into detail on each step.

Step 1

It is advisable to conduct some preliminary research into business planning as an initial step. Read a few business plan templates to get an idea on how to compose a business plan. Go to your local bank or visit their website and they will provide templates for you. Government agencies such as Business Link, or independent companies such as Business Balls provide good templates. Everyone has a different approach to a business plan andCAMpractitioner is no different. By exploring a number if methods allows you to tailor a plan to suit your needs.

Step 2

The following sections are most important when structuring a comprehensive business model for a natural therapy business.

1.Business overview and mission statement

Write an overview of the business and a mission statement. What do you want to achieve from your business and what are your ideas for the type of business you wish to establish.

2. Research audits

To understand your business and your market you should complete a SWOT analysis. This includes your strengths and weaknesses, and the opportunities and threats in the marketplace (such as customers and competitors).

3. Financial statements

As finances are the life-­‐blood of any profit making business, you need to consider your start up costs & budgets, and write a detailed cash-­‐flow forecast.

4. The Marketing ‘Mix’

Consider the key elements of your business including the service you plan to offer, the prices you intend to charge, the location of your business (this may include telephone and/or internet), and the promotional tools you plan to use.

Step 3

Once the above sections have been completed, you now have the information and structure by which to plan and execute your business. From your mission statement, you need to consider the objectives of the business. From this the strategy & tactics need to be planned and actioned to help you achieve your goals. This is always the most difficult but most important part of a business plan.

CAMpractitioner will be explaining the various steps in much greater detail over the coming months.

 

 

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