Business planning | NatWest

 

Do's and don't when writing your plan
 

To build a successful business, having a clear mission and specific goals is vital. The best way to do this is to write a thorough business plan setting out exactly how you're going to turn your dreams into reality. To help you get it right, we've come up with the key dos and don'ts when it comes to business planning.

Don't 'start at the start'

Start with an executive summary. This should be one page long and is your elevator pitch on paper

Do be realistic

While it's important to show ambition, be realistic when projecting your results

Don't say you have no competition

There's always competition, the key is understanding your market and convincing your customers that your product is superior

Do your research

Make sure all research is up to date and accurate, and that any claims can be substantiated. You need to be aware of the good, the bad and the ugly!

Don't include your CV

Your business plan is about the company you intend to run, not ones you may have run in the past. A link to a completed LinkedIn profile will tell someone all they need to know about you

Do check for accuracy

It may be an old cliche, but you only get one chance to make a first impression. Make sure you triple check the accuracy of your content and ask a colleague or mentor to proof read it with a fresh pair of eyes

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Add your signposting title here… Planning to help your business succeed

Our six-step guide can help you put together a robust business plan and set you up for success or expansion

Tips for writing your plan
What next?

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