WRITING YOUR BUSINESS PLAN: 6 STEPS TO DEVELOP A VALUES STATEMENT FOR YOUR BUSINESS

A values statement is a set of beliefs and principles to guide your company’s activities. 

Clearly stated values can help your company react quickly and decisively when the unexpected strikes. 

You may not have the luxury of spending weeks or months to develop a values statement, so we show you a quick way to create one to set your company on the right track. 

Follow these steps: 

1. Select three or four representative groups of employees, including a mix of people from all levels and functions in your company. 

2. Have the groups meet on a rather formal basis over a two-to three-month period to come up with values that should guide the behaviour of every employee in the firm. 

3. Ask group members to create a short list of the values that they think are most important. 

Encourage them to back up this list with their reasons, reminding them that values are often the tiebreakers when it comes to tough management decisions and difficult choices. 

4. Bring the lists together and create a priority ranking of all the values suggested. 

5. Compose a statement, motto, or credo that includes the most significant and widely held values, along with compelling reasons for those values. 

6. Have the groups review and ratify your values statement. 

If your company is small, you can follow the steps yourself or with one or two of your colleagues.

WRITING YOUR BUSINESS PLAN: 8 QUESTIONS THAT PREPARE YOU TO WRITE A MISSION STATEMENT FOR YOUR BUSINESS

Mission statements come in all shapes and sizes, each reflecting the nature of the company it represents. 

Some mission statements include definitions of company values, what the companies do, or descriptions of the customers the companies plan to serve. 

The 8 questions that you need to answer when writing a mission statement for your business are: 

1. What exactly do we do? 

2. What products and services do we offer? 

3. Who is our ideal customer? 

4. What customer needs do we meet, and what benefits do we provide? 

5. What markets and geographic areas do we serve? 

6. What sets us apart from our competition? 

7. What’s the best thing a satisfied customer can say about us? 

8. What gets us most excited about the company’s future? 

After answering basic questions about your business and evaluating how your answers relate to one another, you’re ready to transform your ideas into a mission statement. 

Remember that:

 As you describe who you are, what you do, and what sets you apart, try to make your mission statement as short and sweet as possible. 

 Use plain language so that your mission statement can be understood by everyone. 

 Make your mission statement very specific with messaging that has a strong sense of conviction and commitment.

 Stick to simple, straightforward explanations. 

5 ELEMENTS OF A BANKABLE BUSINESS PLAN

Every business needs a business plan, a statement of business purpose, with the consequences of each element of that purpose spelt out in financial terms. To avoid catching the ‘common cold’ of small businesses (underestimating the amount of start-up capital you need), A business plan helps you to:  

a) Describe what you want your business to do: Who are your potential customers? How much are they likely to spend? Who are your suppliers, and how much do their supplies cost?  

b) Translate those plans and projections into cash: How much does your business need? How much do you already have? How much do you expect ‘outsiders’ to put in?  

Many people have never prepared a business plan, they don’t know how to start and they need new knowledge. Our objective as Business Plan writers is to help you focus on the big picture, guide you whenever you need a little perspective on where you stand and where you’re headed, especially if the road ahead starts to look a little bumpy.

Before getting down your business plan on paper, here are 5 Elements you need to consider. 

1. Determining Where You Want to Go 

When putting together a business plan, you have to decide where you want to end up in the future. This involves establishing a mission for your company, along with business goals and objectives,  through examining your company’s values and your vision for the future. 

2. Sizing Up Your Marketplace 

To make a useful plan for your business, you have to know something about the market you’re going after. This you do by examining your industry and figuring out what it takes to be successful while identifying where your opportunities and threats come from. You also need to analyse your customers, so that you can understand who they are, what they need and how you can group them to better serve them. In addition, you need to scope out your competition, trying to determine exactly what you need to win. 

3. Weighing Up Your Company’s Prospects 

This is where you objectively look at your capabilities and resources, identifying the strengths that you can count on and the weaknesses that you need to deal with. You zero in on what you do best, enabling you to figure out the real value that you provide for your customers and the true advantage that you have over your competitors. You also need to look into your finances and put together a financial forecast and a budget. 

4. Looking to the Future 

The main reason why you make a business plan in the first place is to get ready for what lies ahead for your business. Preparing a business plan helps you look into your future and prepares you for change. Therefore, you need to come up with strategies and directions that you can take as your company grows bigger. 

5. Executing the Business Plan

Your business plan is no good if you can’t put it to work. After developing your business plan, you need to align your company to be as efficient and effective as it can be. You also need to prepare the people in your company so that they have the skills they need to accomplish the goals set out in your plan. 

Best of Luck as you start the journey to your business growth! 

BUSINESS ACCELERATION | BUSINESS PLANS | DIGITAL MARKETING | CONTENT DEVELOPMENT | WEB & GRAPHIC DESIGN | GHOST WRITING

√Are you a female small & medium business owner yet to register your business or have a registered business less than 3 years old?

√Do you feel that you lack required information necessary to grow your business?

√Do you feel that you have inadequate skills to effectively run your business? 

√Are you experiencing challenges in accessing resources (time, finance, personnel) to grow your business?

DO NOT PANIC, WE ARE HERE TO HELP YOU! We shall……

a) coach you and walk you through business registration process, branding & design, and digital marketing;

b) train you on basic business development skills;

c) walk you through developing & executing a business plan;

d) take the pressure off your time so that you can focus on other important tasks, by ghost-writing your business letters, articles, and other pertinent documents;

e) offer you affordable rates considering that your business is new and you could be bootstrapping for now.