Drafting a business plan is one of the best things you can do before starting your VA business.
A Virtual Assistant business plan sets the path to enhance your business success. The following few pages give a step-by-step overview on how to write an effective home based business plan for your Virtual Assistant business. The business plan is divided into a few sections to make it more manageable – You will find the links at the end of this page.
Having a finished home based business plan in hand is quite important….,
but the real value is in the process.
To research and think about every aspect of your business gives you the opportunity to look at your ideas critically.
Regard your Virtual Assistant business plan as a compass to guide you into the direction you want your business to go into and determine the direction that will give you the best possible chance of success.
Why is a Virtual Assistant Business Plan Important
Drafting a business plan helps you to
Examine the details of your business: The different elements of a business plan forces you to objectively and systematically evaluate all the aspects of running your own business. It gives you the opportunity to map the details that will keep you on track as your business grows.
Manage your business: A business plan can act as a tool to test the feasibility of your business and help you remain focused on your long term goals. It can give guidance on how to deal with possible problems before they occur and assist you in keeping your daily tasks well managed.
Obtain Funding: A proper business plan will help to attract investors should you need financial back-up. Since your audience now includes individuals that want to invest in your business by lending you the money, they will be more interested in a detailed financial and forecasting analysis. They need to see if their money investment will reap some benefits. A detailed plan will show them that you are serious about being successful.
When Should You Use Your Business Plan
I honestly believe that your business plan should be a work-in-progress. It is not something you do once and then forget about it. It is a working document that evolves as your business grows and you should use it on a regular basis.
Regard it as a roadmap – it will initially help you set the path and as your business grows it will keep you on track.
You can use your business plan…
During the start-up phase to
- make fundamental start-up decisions
- attract investors
- measure your active progress
- test your initial planning assumptions
- guide and adjust your financial forecasts
- predict ongoing capital and cash requirements
- use as the standard for good operational management
Tip: Update and maintain your business plan on an as-needed basis.
Elements of a Virtual Assistant Business Plan.
Below are typical elements/headlines that you can use to create your business plan. Each element is broken down into several components to make drafting your plan more manageable. Use the different links below to access the specific detailed information and use / adjust it to suite your specific needs.
Remember that every successful virtual assistant business plan should at least include some information about each of the above elements.
For more information also read