Set Goals and Objectives _ A business plan is like a road map to success. Your goals are the destinations that you are aiming to get to. They should be fairly realistic and achievable but should also push you to work hard to reach them. You may set financial goals that set out what kind of gross or net monthly income you intend to be earning after your first year. Other goals could also refer to other metrics such as average food cost percentages on catering jobs for example. Identify Weaknesses and Strengths _ It is important to assess your strengths and weaknesses and how they will affect you when it comes to competing with the established players in your local catering industry. You may bring competitive advantages to the business such as catering experience or local food and hospitality industry connections. You may also identify personal weaknesses that you can work on improving or weaknesses that your company will face when compared to your better established competitors.
In part two having a general thematic focus of the ten sections of a plan and containing ten chapters, that is, chapters three to 12, Balanko_Dickson discusses concepts such as industry analysis; market analysis; products and services; business development; marketing and sales strategy; operations and management; pro forma financial plan; implementation plan; contingency and emergency plan; and executive summary. Part three is based on writing a plan in 30 days and covers three chapters, that is, chapters 13 to 15. Chapter 13, like the whole part, focuses on writing a plan in 30 days. According to this expert here, make no mistake, writing a plan can be a time_consuming task as you are planning your business for the next three years, and you want to give it the attention it deserves. He says his personal experience in writing plans is that it can take him between 50 and 300 hours to finish. Balanko_Dickson expatiates that the more familiar he is with the industry and market, the faster he can get the plan finished. He adds that if you are writing a plan for the first time, have never been in business before, or are new to the industry, plan to spend more time writing your plan.