Business Planning for Women: Why Traditional Models Don’t Always Cater for Women in Business

An increasing number of women are starting small businesses.

The number of small businesses that are starting up with women at the helm is growing and 30% of business owners in the UK are women (Labour Force Survey 2003). The reasons women decide to start their own business vary, with most reporting that they want to be their own boss, choose their working hours and enjoy better work life balance.

However for many of these women the reality of running a small business does not live up to their expectations; it is difficult to fulfill their dreams for their business and they become disillusioned and overwhelmed with the ongoing struggle of running a small business alongside their other roles in life – mother, partner, friend, daughter, chef, chauffeur, socialite – the list goes on!

One area that has been identified as a significant factor limiting the success of women in business is a lack of business planning.

» Read more: Business Planning for Women: Why Traditional Models Don’t Always Cater for Women in Business

Simple Business Plan Template – Get One and Save Time and Money

If you are creating a business plan it certainly does take some significant time to find out all the correct information to include in it. This is where a simple business plan template can save you considerable time and effort. If you are limited on time, the consider using a template to get things done quicker.

What types of things should be in a plan? Well firstly you should include the basics like where the business will be located. Then consider other basic issues like who the employees will be and how many people will be working for the businesses when it starts.

Once you have got through the basics then consider things like target markets. What will the target market be and what product or service will you sell? You need to consider the demographics of the people you will be targeting and you can get a lot of this information from surveys. It is important that you consider this information as it will help you target your marketing more accurately and your conversion rates will be much better.

» Read more: Simple Business Plan Template – Get One and Save Time and Money

How Do I Write a Business Plan?

Why Write A Business Plan?

How Do I Write A Business Plan is a question very much on a business executives mind usually around mid-year or during the last quarter of the financial year? As it is part of the management process, most businesses would have scheduled the business plan sub-process to start at a suitable time of the year. There are others, usually small independent entrepreneurs who may probably put it together as the need arises. This could be due to the need to apply for financial assistance or to impress a third party on some important business matter or venture. However it is done, a business plan is important as it serves as a performance reference, sets the business direction and rallies the team to an agreed business objective.

The 7 Elements Of A Business Plan

Executive summary which is written after the plan is finalized. It briefly provides an overview of the business plan in terms of the approach employed and key considerations in terms of business offerings, key staff and expectations in terms of financial results.

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