30 60 90 Business Plan Template
A 30 60 plan is an effective tool to help business owners to organize and analyze their businesses. It is a simple yet powerful document that helps in the identification of business needs, identifies challenges and deals with them accordingly. This plan has sections that are used for various purposes such as: setting out goals and objectives, financial planning, determining sources of revenue, determining working capital requirements and debt-repayment options, marketing strategy, and internal operations support. The plan may also be referred to as an executive summary. The three essential sections are:
o Business Needs. This section discusses the nature of the business. This means that the purpose or theme of the business must be identified. If it is a service business, for example, it will deal with the need to equip the business with services, customers, and inventory.
O Strategy. This section focuses on describing the strategic objectives of the business. These objectives should be in line with the nature of the business. It could be increasing sales, reducing costs, increasing market share or optimizing output and productivity. The strategies should also be feasible within the range of the resources available to the business.
O Funding. The next section covers the issue of funding. The plan must identify and provide sources of capital needed for the startup and operation of the venture. It could be bank loans, mortgaging the property, grants, inheritances, and others.
O Market Research. This is the section where the need for information on potential markets, competitors, and consumer behavior in relation to the business is discussed. The business plan template could include data and research based on consumer surveys. It could also use the data garnered from competitors.
O Operations. This section looks into details such as how the business will manage its production, sale, and marketing activities. The plan should define how profits will be calculated and the methods of budget allocation among these three activities. The business can also include a breakdown of management costs such as rent, labor, equipment, and supplies.
O Marketing Strategy. The marketing strategy should include how the business would advertise itself. It can be done either through online advertising or offline advertising. The marketing strategy should also consider how the advertisement will fit in with the marketing program of the company.
Once you have finished the drafting of your business plan template, you should make sure that it is comprehensive enough to cover all aspects of the business. Review it again and edit anything that does not seem right. Give it a final review and sign it. Give your business its first loan by requesting a financial lender.
A good template would help give a complete idea of how one should go about starting a business. It would explain everything from how to choose a business name to what licenses and permits are needed. It would even help you decide which industries are lucrative and which ones are not. By providing a clear outline, this helps one to prepare for the different aspects of starting up one’s own business.
Business plans usually begin with the description of the product or service that one will offer to others. However, a good one would go on to define the benefits that come with the products or services that are being offered. These would include the expected customer volume, how much it would cost to create these products or services and whether or not there is a market for them. If the market is there, one may then explore other options.
The idea of having a business plan template is to provide an outline so that one can have a guidebook to follow. There are some free business plan templates that you can find online. However, the most helpful ones are those that require you to pay a fee. Although this helps to keep everything consistent and in order, paying a fee often involves terms and conditions that one is not aware of, such as how one can use the template.
If you are serious about starting a business of your own, you must first understand how business works. By using a business plan template, you can set yourself up on the right path. This will also make the whole process of starting up your own business a lot easier. You will be well prepared when it comes to dealing with clients, getting licenses and dealing with tax matters.