Being a stay at home mum is not an easy job, but there will be times when you would want to do something for yourself. A good idea for you would be to take the start-up route. Start your own small business. If you have a brilliant idea for a small business, the first step to take is to come up with an extensive business plan. Think about setting your own hours so you can spend enough time with your kids. If you want to be a start-up mum, here’s a short guide writing a compelling business plan for mums.
Create a Business Profile for Your Company
Think of this section as the first introduction of your business to your prospective readers. Explain what your business is all about. You can find some good tips on how to start your business plan including free tools on different websites. Elaborate your ideas for the new business and formulate strategies related to the future of the business. Include the following information in your company profile:
- Business name, location
- Nature of the business
- Registration numbers
- Licenses, permits and patents (if you have filed any)
- Agreements, terms and conditions
- Number of employees
- Strategic goals and objectives of your business
Marketing and Sales Plan
As a stay at home mum, you have decided to take the start-up route, while writing your business plan pay special attention to the marketing and sales plan section of your business plan. Use this section to dictate the sales and marketing strategies you plan to implement for better sales. You will need considerable market research to establish what your target audience wants. Mention all your advertising and promotion plans to increase your sales over time for better revenues.
Pay particular attention to your management practices while writing your business plan for a new start-up as a stay at home mum. Investors will be interested to know how you plan to run your business from home and this is your chance to share your plans. If you have any intellectual property, right to protect you can contact a seasoned attorney, such as https://zip-npe.com.au/ and include your intellectual property in the business plan. Here’s what you need to include in the management plan:
- Job description and designation of your team members
- Mention the hierarchical position of each employee
- The total number of employees you would have in the beginning
- Working hours
Financial Resources and Investment Plan
This is another significant section of your business plan. As a stay at home mum, you might need to tap into your savings to fund your business. If you have other sources for funding your business then include them in detail in this section of your business plan. Include any bank loans and borrowings in your plan. Investors will be interested to know how you plan to use the investment to take your business forward. Mention your auditing and budgeting techniques as well.
Your business plan is a formal document that will serve as the basis for your business. In the appendices section include all the legal documents, permits, patents, licences and any other agreements and contracts that the investors and your clients will be interested in.