Small Business Management Plan
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Do you have an idea of what you want to draft, but you cannot find the exact words yet to write it down or lack the inspiration how to make it? If you've been feeling stuck, this Small Business Management Plan template can help you find inspiration and motivation. This Small Business Management Plan covers the most important topics that you are looking for and will help you to structure and communicate in a professional manner with those involved.
Then, for each customer group, construct what is called a demographic profile: • Age • Gender • Location Page 10 of 31 • Income level • Social class and occupation • Education • Other (specific to your industry) • Other (specific to your industry) For business customers, the demographic factors might be: • Industry (or portion of an industry) • Location • Size of firm • Quality, technology, and price preferences • Other (specific to your industry) • Other (specific to your industry) Competition What products and companies will compete with you List your major competitors: (Names and addresses) Will they compete with you across the board, or just for certain products, certain customers, or in certain locations Will you have important indirect competitors (For example, video rental stores compete with theaters, although they are different types of businesses.) How will your products or services compare with the competition Use the Competitive Analysis table below to compare your company with your two most important competitors.. • For certain functions, will you use contract workers in addition to employees Inventory • What kind of inventory will you keep: raw materials, supplies, finished goods • Average value in stock (i.e., what is your inventory investment) • Rate of turnover and how this compares to the industry averages • Seasonal buildups • Lead‐time for ordering Suppliers Identify key suppliers: • Names and addresses • Type and amount of inventory furnished • Credit and delivery policies • History and reliability Should you have more than one supplier for critical items (as a backup) Do you expect shortages or short‐term delivery problems Are supply costs steady or fluctuating If fluctuating, how would you deal with changing costs Credit Policies • Do you plan to sell on credit Page 19 of 31 • Do you really need to sell on credit Is it customary in your industry and expected by your clientele • If yes, what policies will you have about who gets credit and h
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