sample business plan for secretarial services

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Secretarial Services Business Plan : free template

Welcome to the comprehensive guide on crafting a winning Secretarial Services Business Plan for (Secretarial Services Ltd). In this article, we will delve into essential sections that will form the foundation of your business plan, from the executive summary to financial forecasts. By carefully strategizing each aspect, you’ll gain valuable insights into the market, effectively position your services, and showcase the strength of your management team. Join us as we embark on this journey to create a roadmap for success in the dynamic world of secretarial services. Let’s begin!

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Secretarial Services Business Plan: Executive Summary

Introduction.

The executive summary of (Secretarial Services Ltd) provides a concise overview of the company’s business plan. This section outlines the key components of the plan, offering potential investors and stakeholders a glimpse into the company’s objectives, strategies, and financial projections.

Company Overview

(Secretarial Services Ltd) is a dedicated secretarial service provider aimed at offering comprehensive administrative support to businesses of all sizes. With a team of skilled professionals and a commitment to excellence, our company strives to become a leading player in the industry.

Mission and Vision

Our mission is to assist businesses in streamlining their operations by providing efficient secretarial services. We aim to become a trusted partner for our clients, enabling them to focus on their core competencies while we handle administrative tasks. Our vision is to set new standards in the secretarial services sector by delivering outstanding solutions that drive business growth.

Market Opportunity

The executive summary highlights the market opportunity that (Secretarial Services Ltd) seeks to capitalize on. With the increasing demands of the corporate world and a growing trend of outsourcing administrative functions, there is a significant market for reliable and professional secretarial services.

Competitive Advantage

(Secretarial Services Ltd) differentiates itself through its experienced and skilled team, cutting-edge technology adoption, and a customer-centric approach. By leveraging our competitive advantages, we aim to carve a distinct space in the market and gain a competitive edge.

Financial Snapshot

This section offers a summary of the financial forecasts and projections for (Secretarial Services Ltd). It outlines the anticipated revenue growth, cost structure, and potential return on investment for prospective stakeholders.

In conclusion, the executive summary encapsulates the essence of (Secretarial Services Ltd)’s business plan. As we embark on this journey, we are confident that our dedication, expertise, and market opportunities will propel us toward success and establish (Secretarial Services Ltd) as a leading provider of secretarial services.

Secretarial Services Business Plan: Product and Service

Service offerings.

At (Secretarial Services Ltd), we offer a comprehensive range of secretarial services tailored to meet the unique needs of our clients. Our core services include:

1. Administrative Support

We provide a wide array of administrative support, including document preparation, data entry, appointment scheduling, and email management. By outsourcing these tasks to us, businesses can optimize their time and resources, leading to increased productivity.

2. Virtual Assistance

Our virtual assistants are highly skilled professionals who can handle various tasks, such as travel arrangements, event planning, and internet research. By utilizing our virtual assistance services, businesses can operate more efficiently without the need for additional in-house staff.

3. Transcription Services

Accurate and timely transcription is vital for many businesses. We offer transcription services for audio and video recordings, interviews, meetings, and more, ensuring that our clients have accurate records of their important conversations.

4. Data Management

Managing data can be time-consuming and complex. Our data management services encompass data entry, data cleaning, database maintenance, and data analysis. This helps businesses maintain organized and reliable data systems.

5. Language Translation

As businesses operate on a global scale, language barriers can present challenges. We offer professional language translation services to help clients communicate effectively with international partners and customers.

Custom Solutions

In addition to our core services, (Secretarial Services Ltd) understands that each client has unique requirements. We work closely with our clients to develop custom solutions that address their specific needs, ensuring maximum satisfaction and value.

Quality Assurance

Our commitment to quality is unwavering. We have established robust quality assurance processes to maintain high standards across all our services. Rigorous reviews and checks are conducted to deliver error-free and top-notch services to our clients.

Customer Support

At (Secretarial Services Ltd), we prioritize excellent customer support. Our team is available to assist clients promptly, address any concerns, and provide ongoing support throughout the engagement

Secretarial Services Business Plan: Market Analysis

Industry overview.

The market analysis section delves into the broader industry in which (Secretarial Services Ltd) operates. The secretarial services industry plays a crucial role in supporting businesses by handling administrative tasks efficiently. As companies continue to focus on core competencies, the demand for reliable secretarial services has witnessed steady growth.

Market Size and Growth

The market analysis reveals the current market size of the secretarial services industry and its projected growth. Factors such as increased outsourcing of administrative functions, expansion of businesses, and the rise of startups contribute to the industry’s growth prospects.

Target Market

Identifying the target market is essential for (Secretarial Services Ltd) to channel its resources effectively. Our services cater to a diverse clientele, including small and medium-sized enterprises (SMEs), startups, entrepreneurs, busy professionals, and corporations seeking to optimize their operations.

Competitor Analysis

In this section, we analyze the key competitors in the secretarial services industry. Understanding the strengths and weaknesses of our competitors helps (Secretarial Services Ltd) devise effective strategies to position ourselves favorably in the market.

Competitive Advantages

Building upon the earlier executive summary, this subsection reiterates (Secretarial Services Ltd)’s competitive advantages. Our team’s expertise, technological infrastructure, personalized services, and commitment to customer satisfaction set us apart from competitors.

Market Entry Barriers

Entering the secretarial services market requires overcoming certain barriers. These may include initial investment costs, building a reputation in the industry, and establishing a reliable customer base. (Secretarial Services Ltd) has identified these barriers and devised strategies to mitigate them effectively.

Market Trends

Staying attuned to market trends is essential for any business’s long-term success. This section highlights the emerging trends in the secretarial services industry, such as the adoption of advanced technologies, remote work arrangements, and the need for sustainable practices.

Regulatory Considerations

Navigating the legal and regulatory landscape is critical for business operations. (Secretarial Services Ltd) complies with all relevant laws and regulations, and this section outlines the key compliance areas to assure potential investors and stakeholders.

The market analysis reaffirms (Secretarial Services Ltd)’s understanding of the secretarial services industry and its position within it. Armed with this knowledge, our company is well-prepared to leverage opportunities and overcome challenges to achieve sustainable growth

Secretarial Services Business Plan: Marketing & Sales Strategy

Target audience.

Identifying and understanding our target audience is crucial for developing an effective marketing and sales strategy. (Secretarial Services Ltd) has segmented its target audience based on industry, company size, and specific needs to tailor our marketing efforts accordingly.

Brand Positioning

In this section, we outline (Secretarial Services Ltd)’s brand positioning in the market. Our brand is positioned as a reliable and professional secretarial service provider, offering comprehensive solutions tailored to meet the unique requirements of our clients.

Marketing Channels

The marketing and sales strategy of (Secretarial Services Ltd) involves leveraging various channels to reach our target audience effectively. These channels include:

1. Digital Marketing

We employ digital marketing strategies such as search engine optimization (SEO), content marketing, social media marketing, and email campaigns to enhance our online visibility and attract potential clients.

2. Networking and Partnerships

Networking with relevant industry players, attending conferences, and forming strategic partnerships enable us to expand our reach and gain referrals from businesses in complementary sectors.

3. Website and Online Presence

Our website serves as a vital tool to showcase our services, success stories, and customer testimonials. A user-friendly website with clear calls-to-action enhances customer engagement and conversions.

4. Advertising and Promotions

Strategic advertising through online platforms, industry publications, and local media helps create brand awareness and attract potential clients.

Sales Approach

(Secretarial Services Ltd) employs a consultative sales approach to understand the unique needs of each client. By analyzing their requirements, we can propose tailored solutions that highlight the value we bring to their business.

Customer Relationship Management

Establishing and maintaining strong customer relationships is a priority for (Secretarial Services Ltd). We utilize customer relationship management (CRM) tools to keep track of interactions, ensure timely follow-ups, and provide personalized services.

Client Retention

Repeat business and client retention are vital for long-term success. We implement loyalty programs, discounts for ongoing services, and exceptional customer support to foster strong relationships with our existing clients.

Measuring Success

Key performance indicators (KPIs) are used to measure the success of our marketing and sales efforts. These KPIs include customer acquisition cost, conversion rates, customer lifetime value, and client satisfaction.

The marketing and sales strategy of (Secretarial Services Ltd) is designed to create a strong brand presence, attract potential clients, and build lasting relationships. By utilizing diverse marketing channels and a customer-focused approach, we aim to achieve sustainable growth and success in the market.

Secretarial Services Business Plan: The Management Team

The success of (Secretarial Services Ltd) heavily relies on the skills, expertise, and dedication of its management team. This section introduces the key members of the management team and their roles in driving the company forward.

Founder and CEO: [Founder’s Name]

As the visionary behind (Secretarial Services Ltd), [Founder’s Name] brings extensive experience in the secretarial services industry. Their strong leadership and strategic decision-making skills have been instrumental in shaping the company’s mission and goals.

Chief Operating Officer (COO): [COO’s Name]

[COO’s Name] oversees the day-to-day operations of (Secretarial Services Ltd). With a deep understanding of business processes and a focus on efficiency, they ensure that the company delivers high-quality services to its clients consistently.

Chief Financial Officer (CFO): [CFO’s Name]

Financial management is crucial for any business’s success, and [CFO’s Name] plays a pivotal role in (Secretarial Services Ltd). Their expertise in financial forecasting, budgeting, and risk management helps the company maintain financial stability and make informed decisions.

Director of Sales and Marketing: [Director’s Name]

Driving business growth and expanding the client base is the responsibility of [Director’s Name]. Their in-depth knowledge of marketing strategies and sales techniques enables (Secretarial Services Ltd) to reach its target audience effectively.

Head of Customer Relations: [Head’s Name]

Customer satisfaction is at the core of (Secretarial Services Ltd)’s values, and [Head’s Name] leads the team dedicated to achieving this goal. They ensure that clients receive exceptional service and that their feedback is taken into account for continuous improvement.

Human Resources Manager: [HR Manager’s Name]

The well-being of the company’s employees is overseen by [HR Manager’s Name]. They are responsible for talent acquisition, employee development, and fostering a positive work culture within (Secretarial Services Ltd).

Advisory Board

Apart from the core management team, (Secretarial Services Ltd) benefits from the expertise of its advisory board. The advisory board comprises industry experts, consultants, and successful entrepreneurs who provide valuable guidance and strategic insights.

Team Expertise and Experience

Each member of the management team brings a wealth of experience and expertise in their respective fields, making (Secretarial Services Ltd) a well-rounded and capable organization.

The management team at (Secretarial Services Ltd) plays a vital role in the company’s growth and success. Their combined efforts, experience, and dedication position the company for a promising future, with a focus on delivering top-notch secretarial services and exceeding client expectations

Secretarial Services Business Plan: Financial Forecasts or Projections

The financial forecasts section provides an in-depth analysis of (Secretarial Services Ltd)’s projected financial performance. These forecasts are based on careful analysis, market trends, and the company’s growth strategies.

Revenue Projections

This subsection outlines (Secretarial Services Ltd)’s expected revenue over the next few years. It factors in the projected growth in the client base, potential upselling opportunities, and the introduction of new services.

Expense Projections

To maintain financial stability, it is crucial to anticipate and manage expenses effectively. This part of the financial forecasts details the expected operational costs, including employee salaries, office rent, technology investments, marketing expenses, and more.

Profit and Loss (P&L) Statement

The P&L statement showcases the projected revenue and expenses of (Secretarial Services Ltd) over a specific period. It provides a clear overview of the company’s profitability and financial performance.

Cash Flow Projections

Cash flow is the lifeblood of any business, and this section projects (Secretarial Services Ltd)’s future cash inflows and outflows. It helps identify potential cash flow gaps and ensures the company’s ability to meet financial obligations.

Break-Even Analysis

The break-even analysis determines the level of revenue needed to cover all fixed and variable costs. It helps (Secretarial Services Ltd) understand when it is expected to become profitable and how changes in costs or pricing affect the bottom line.

Financial Ratios

This subsection presents important financial ratios that provide insights into (Secretarial Services Ltd)’s financial health and performance. Ratios such as liquidity ratios, profitability ratios, and efficiency ratios offer valuable information for decision-making.

Contingency Plans

Despite careful planning, unforeseen events can impact a business. In this section, (Secretarial Services Ltd) outlines contingency plans and risk management strategies to address potential challenges and ensure continuity.

The financial forecasts and projections demonstrate (Secretarial Services Ltd)’s potential for growth and profitability. These projections are a result of diligent planning and a commitment to financial prudence, positioning the company for a successful and sustainable future

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Administrative Service Business Plan

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Everywhere Assistant

Executive summary executive summary is a brief introduction to your business plan. it describes your business, the problem that it solves, your target market, and financial highlights.">.

Everywhere Assistant is a new start up virtual assistant business.  The company is a sole proprietorship with Sadie Clark as the founder and sole employee.  The company was formed and will serve a diverse geographic customer segment.

The Market Everywhere Assistant has identified three distinct market segments which will be targeted.  The first segment is companies of various sizes.  In the current business climate, there has been a common occurrence to have wide scale corporate downsizing.  This is helpful for Everywhere Assistant because the downsizing means that people kept within the company are busier than ever.  Typical in a downsizing climate there is the outsourcing of projects/jobs that the current staff cannot handle.  Everywhere Assistant believes that the majority of their sales (relative to the other customer segments) will come from the companies.

The second customer segment is individuals.  This is an attractive segment because as our daily lives become busier and busier we have less and less free time.  Using a virtual assistant (VA) is one way to create more free time, or at least not have to do tasks that we may not prefer to.  It is anticipated that the services provided to individuals will be more menial relative to the services provided to companies.

The last customer segment is not for profit organizations. These organizations, in large part due to their status as a not for profit do not have excess capital.  As a consequence, they have tried to maximize employee’s tasks and responsibilities as much as possible.  This means most employees are quite busy.  When a random tasks comes up the organization typically does not have an employee that can just take handle the task.  This is good for VA’s who can quickly and seamlessly take over tasks.  This saves the company money because they are only paying for the labor needed to complete the task.

Services Everywhere Assistant offers a wide range of services.  The bulk of the services are administrative in nature, whether data entry, mailing list updates, etc.  These will be the services that will be billed out at the lower end of the billing spectrum of $25-$45.  Services that are billed out near the top of the range are those that require higher levels of skills such as accounting, marketing, and graphic design.   In the middle will be services such as concierge services and travel arrangements which are in themselves a wide range of services.  The offered services will be things that the customer does not have time for or things that they choose not to do, something they would prefer someone else to take care.

Competitive Edge The majority of VA services are secretarial in nature.  They are jobs that an administrative assistant can handle.  Everywhere Assistant will be using their competitive edge of a wide range of skills to their fullest.  In addition to the more menial tasks, Everywhere Assistant is able to offer clients a wide range of more technical skills such as a proficiency with QuickBooks Pro for accounting issues, graphic design with skill in both Photoshop and PageMaker, and well-honed marketing and research skills.  This is a competitive edge because once a client has found a VA they have an economic incentive to continue to use them as opposed to finding someone else (assuming that they are happy with the level of service and the work product).  The problem occurs when the client is happy with the VA but needs work on a project that the VA does not have skills in, consequently, the client must look elsewhere.  An advantage is created when the VA (Everywhere Assistant) has a wider and more complex range of skills, they are then able to offer more value to the client.

Everywhere Assistant is an exciting application of the virtual assistant business model, providing a wide range of customer services from a remote location, leveraging the power of the Internet.  This is a very efficient business model and will provide Sadie with reasonable income and the flexibility to handle the jobs when and how she chooses.  The sales forecast indicates revenue will rise for year two and year three along with corresponding net profit increases.

1.1 Keys to Success

• Offer a wide range of services allowing Everywhere Assistant to handle any type of task.
• Maintain a flexible enough schedule so last minute projects can be completed.
• Ensure accurate billing and project estimates.

1.2 Mission

Everywhere Assistant’s mission is to offer the highest level of administrative assistant services from a remote location.  Everywhere Assistant will be able to handle a wide range of tasks with a level of professionalism and trust that is hard to come by in today’s world.  Everywhere Assistant will exceed customer’s expectations.

1.3 Objectives

• To generate over $35,000 in the first year.
• To develop enough income to make the job full time position.
• To be able to decrease the marketing expenses after couple of years because there is sufficient word of mouth projects to remain busy.

Company Summary company overview ) is an overview of the most important points about your company—your history, management team, location, mission statement and legal structure.">

Everywhere Assistant has been formed as a sole proprietorship by Sadie Clark.  The company will incur some start expenses detailed in section 2.2.

2.1 Company Ownership

Sadie Clark has formed Everywhere Assistant as a sole proprietorship.  Sadie will invest money of her own as well as money received from her family.

2.2 Start-up Summary

The following equipment/services will be needed for purchase to allow Everywhere Assistant to begin operations:

• Windows computer
• Mac computer
• Laser printer
• Broadband Internet connection
• Fax machine
• Various software including Adobe Acrobat, Photoshop and PageMaker, Microsoft Office, Word Perfect, and QuickBooks Pro
• Attorney services to develop a standard contract template for clients

Everywhere Assistant provides a wide range of administrative assistant functions from a remote location.  Everywhere Assistant will serve a wide range of clients from businesses to individuals to not-for-profit organizations.  The following is a list (not exhaustive) of the different services offered.  Please note that as long as Sadie has the skills to complete a task, she will be willing to undertake whatever project the client may wish:

• Word processing
• Accounting/bookkeeping
• Desktop publishing
• Travel arrangements
• Mailing services
• Maintain electronic mailing lists
• Maintain vendor files
• Concierge services

This is of considerable value to the customer.  The client incurs no payroll taxes, no insurance costs as well as no fringe benefit expenses.  The client is not responsible for providing office space or equipment.  This is contained in Everywhere Assistant hourly rate.  The hourly rate is $25-$45 depending on the activity.  More menial tasks such as data entry will be billed out at $25, activities such as graphic design, accounting, and other more skilled tasks will be billed out at $45.

Everywhere Assistant will be operating out of Sadie’s home.  A room has been dedicated to the business in the house and rent will be paid for the use of the room.

Market Analysis Summary how to do a market analysis for your business plan.">

Everywhere Assistant has segmented the market  into three attractive, distinct, customer segments.  Services will targeted to companies, individuals, and not for profit organizations.  Market research indicates that these are the most likely consumers of remote administrative assistants.  The virtual assistant is fairly new, proliferating with the Internet which allows service providers in remote locations to serve a large geographic range of clients.  Membership records within the larger virtual assistant associations indicates that there are typically 10-15 virtual assistants within each state.

4.1 Market Segmentation

Everywhere Assistant has identified three customer segments which are the most attractive for the virtual assistant industry.  These segments are customers who tend to consume the largest amount of virtual assistant services. 

Companies For a variety of reason companies are an attractive segment.  Some companies have been going through corporate downsizing as a means for decreasing overhead/ the burn rate.  While this does assist reducing monthly expenditures, often the company soon there after realizes that were certain necessary services being provided by the personnel that were let go.  Companies also use virtual assistants for projects that come up with little notice and they need a helping hand.  The virtual assistants are particularly useful because the companies only pay for the services rendered, there is no continual employment or equipment overhead.

• There are 36,554 potential customers
• Sizes for companies range from small organizations of a few people to large corporations
• Some companies will use Everywhere Assistant on a random basis, others may sign Everywhere Assistant initially on a retainer basis.  This arrangement is initial because once business become more full, the highest billing rate work will be sought out since the number of hours available is limited.

Individuals Virtual assistants are also useful to may different individuals.  The individuals are likely to use the assistants for tasks that they do not have time for or tasks that they simply do not enjoy.  These tasks could be business related, but research indicates that many of the requested tasks are personal in nature, assisting the individual with something that they do not have time for.  One unexpected tasks is trip planning.  The client provides the assistant with some guidelines and the assistant performs a comprehensive search of options as well as discounts/ specials. 

• Typically ages 30-55
• Median individual income is $51,000
• 91% of the individuals have a college degree
• 32% have a graduate degree

Not-for-Profit Organizations These organizations are attractive customers because they are often in a funding crunch.  They often do not have the funding to have some sort of assistant always on staff ready to do work as it comes along.  The not-for-profit organizations are often as trim as possible regarding staffing.  This sets up an excellent opportunity for Everywhere Assistant who can provide administrative services when needed, but are not a resource drain when there is no work.  Everywhere Assistant will serve a wide range of not-for-profit organizations.

4.2 Target Market Segment Strategy

The targeted customers: companies, individuals, and not for profits were chosen because they all are likely to have a need for a virtual assistant, all for different reasons.  As companies continue to become as efficient as possible, they are keeping their current employees as busy as possible. Often they are to busy to take care of projects that come up randomly, that is were Everywhere Assistant comes in.

Individuals will have a demand for Everywhere Assistant for tasks that they either do not have the time for or do not want to do.  This is especially true as we (Americans) have less and less free.  This then fuels our desire to pick and choose the activities that we have time for or care to do, and then subcontracted out the things we do not do.  Not for profits are also attractive as they are the organizations who often have the least funds so creative options to complete tasks are always considered.  Everywhere Assistant  allows them to have someone complete the task with out the typical overhead associated with the worker. 

4.3 Service Business Analysis

Virtual Assistants is a fairly new industry that has arisen from the convenience of the Internet.  The Internet created a medium where people could communicate, transfer files electronically, do research, and find people all from one’s home.  In essence the Internet has created a “web” connecting people in remote locations. 

The other factor that fueled the growth of virtual assistants was the downsizing of the business world.  This created a lot of opportunities for virtual assistants because companies were getting slimmer and slimmer and for the small, random projects that would pop up they would just subcontract out the work.  When you combine the market need for projects and the Internet as the connection to these remote people, you have a new business model. 

There has also been the development of a few organizations that specifically serve virtual assistants that has assisted the growth and legitimacy of the industry.  The associations have developed certification programs that has assisted growth by helping establish trust between two unknown parties.  The certifications provide indications of minimum levels of skills as well as work product.

As technology increases, more and more tasks will be able to be accomplished remotely, sending the finished product electronically as well as even having face to face video conferences remotely allowing to simulate a face to face meeting, however, the two parties could be half way around the world.  

4.3.1 Competition and Buying Patterns

By virtue of the nature of virtual assistants (VA), competition does not have a significant physical boundaries.  While there typically is 10-20 registered/ certified VA’s per state, there is no advantage in choosing a VA from one state relative to another state.  VAs therefore compete on availability, costs, work product and skill set.

Strategy and Implementation Summary

Everywhere Assistant will leverage their competitive edge of having a wide range of services offered.  This will be especially useful since once a client has found a VA that they are happy with they will tend to continue to use them assuming the VA can handle all of the tasks that the client has.

Everywhere Assistant’s marketing strategy will develop visibility and awareness for the company as a virtual assistant.  This will be accomplished by using several marketing mediums.  Lastly, Everywhere Assistant will highlight in their sales strategy the high level of customer satisfaction that Everywhere Assistant offers.  This is especially important since because repeat business from a customer is likely if they are kept happy.

5.1 Competitive Edge

Everywhere Assistant’s competitive edge is the wide range of skills that they offer to clients.  While many of the VA’s can offer basic administrative skills and tasks, Everywhere Assistant has an expanded selection of skills that includes accounting/bookkeeping, graphic design, and marketing.

Having the wider range of skills is significant because the nature of the industry is that once a good service provider is found the client tends to use the VA for all of the needs the VA can fill.  If there are tasks that the VA cannot do the client will look elsewhere to have those tasks completed.  Here in lays the danger, the possibility that the client will find a new VA, one that is more diverse and stay with the new VA.  By offering a wide range of services Everywhere Assistant can be the one stop VA serving all of the client’s needs.

5.2 Marketing Strategy

Everywhere Assistant marketing strategy will seek to raise awareness of Everywhere Assistant as a premier VA.  The first method that they will use is membership  to the International Virtual Assistant Association (IVAA).  This association offers a certification process which is useful when you are trying to sell the services over the Internet and the prospective customer does not know you.

The certification develops some degree of trust because the certification provides an indication of professionalism, acceptable work products, and appropriate skills.  This will tend to speed up the process of developing trust between Everywhere Assistant  and the remote client.  Being a member of the association is also useful because it includes Everywhere Assistant in their VA directory.  This comes into play when clients are looking for a VA an they will often visit an associations website looking for a VA and they will see Everywhere Assistant’s listing. 

Everywhere Assistant will also have a website developed that will be a showcase for the services that they offer.  This must be a professional site because other than phone conversations, this is the impression that is initially left on the client, the more professional the site looks, the better the image that is bestowed on Everywhere Assistant. 

Everywhere Assistant will also place some advertisements in a couple newspapers.  The choice of newspaper will be based on several factors:

• Low cost, high readership
• In a region that has had significant corporate downsizing
• A concentrated urban area

The effectiveness of a newspaper advertisement in somewhat unknown.  The ads will be run a few times and a costs benefit analysis will be done to decide future use.

5.3 Sales Strategy

The sales strategy will be based on ensuring complete customer satisfaction.  This will be addressed because the chance of repeat business is very high.  This is intuitive because once you have found a remote assistant and have used them for a while a trust relationship builds where you begin to feel more and more comfortable with this new person.

There then is a decreased chance of looking for a different VA because the switching costs increase because of the time it takes to find someone new and build trust.  Everywhere Assistant will be successful in developing superior customer satisfaction so that the majority of their clients will become repeat clients.  As more and more business is repeat business, marketing costs fall because with a one person business, there is a finite amount of business that Everywhere Assistant can handle in a month.

The more business that is received through repeat business, the less business Everywhere Assistant will have to market them selves.  Additionally, the more business that comes to Everywhere Assistant the more selective they can be (assuming they are reaching full capacity) in choosing the projects.  Projects with higher billing can be chosen increasing revenue for the same amount of hours worked. 

The key to customer satisfaction is ensuring that all customers are more than happy.  If it turns out of the customers is not happy with the project it is worthwhile to correct the situation, even if it is costly in the short run.  In the long term, the customer should be convinced to remain with Everywhere Assistant  and is even likely to tell others about how Everywhere Assistant went out of their way to correct the problem.  This develops incredible good will.  Even if services have to be given away to ensure complete satisfaction, that short term cost will be a worthwhile investment for the long term sustainability of the business.

5.3.1 Sales Forecast

A sales forecast has been developed to measure the sales by month for the first year and yearly for years two and three.  The sales forecast has been used to help predict the Break-even Point by measuring revenue against expenses.

A conservative forecast has been adopted to increase the chance of meeting the sales goals.  The sales has been broken down by the specific customers as a method of tracking where the business is coming from.  The following charts and graphs provide quantifiable data and graphic representations of the sales.

5.4 Milestones

Everywhere Assistant has chosen several different quantifiable milestones for the company.  Milestones are being used as a method of setting goals as well as then tracking progress toward the attainment of the goals.  The following goals have been chosen:

• Business plan completion
• First customer
• Profitability
• Full time employment
• Decreased marketing costs

Please review the following table for more detail regarding the milestones.

Web Plan Summary

The website will be developed to provide information of Everywhere Assistant and the services that they offer.  In addition to providing information, the website will serve as a way of creating an image or facade of Everywhere Assistant to customers who are in remote locations.  Said another way, the more professional that the website is, the more professionalism that is exuded toward Everywhere Assistant.  For many the website will be the first impression of Everywhere Assistant.  As we all know first impressions can be quite important so Everywhere Assistant has decided to invest money into the site to ensure a professional looking site.

6.1 Website Marketing Strategy

The website will be primarily marketed through the following methods:

• Search engine submission . When someone is interested in finding a virtual assistant they will often type “virtual assistant” into a search engine such as Google! and they will receive a list of sights that have relevance to the key word. Everywhere Assistant will submit their site and applicable key words to various search engines to ensure that they are high on the list of results.
• URL on all printed material . For advertisements in the news paper or any correspondence from Everywhere Assistant, the website will be listed on the printed material encouraging people to visit the site and find more information.
• Association membership . One of the values of being a member of a VA association is being included in their directory of service provider websites. Some people will go right to the association’s web page to research various VAs. In this case they will find links to Everywhere Assistant’s site.

6.2 Development Requirements

The site will be professionally developed for the cost of $5,000.

Management Summary management summary will include information about who's on your team and why they're the right people for the job, as well as your future hiring plans.">

Sadie Clark received her undergraduate degree in business administration from the University of Washington.  Upon graduation Sadie went to work for the Microsoft Corporation supporting their marketing department.  While her position had the majority of responsibilities as an administrative assistant, she was cross trained in a variety of areas including some graphic design, accounting and marketing.

This was fairly unusual for Microsoft which typically has narrow job descriptions for their employees.  However, in the marketing department, it was smaller, closer knit group of people so when the group needed something done they would often have it accomplished by someone within the group.  If the person did not know the skill but there was someone in the group that did, they would often train the other person which would in effect increase the flexibility of the department.  It was the time spent in this department that Sadie developed her large repertoire of skills. After five years at Microsoft Sadie had a child and took two years off to raise the child. 

Upon entering back into the working world, Sadie began to realize that jobs were more difficult to come by.  At the same time Sadie began considering a non traditional job that would give her more flexibility to spend wit her family.  A friend of hers was telling her about an acquaintance of theirs who started her own VA company.  This intrigued Sadie, she had the skills to pull it off, it just made her a bit nervous to start her own business, the process seamed overwhelming.

At this point Sadie had to decide something so she began to write a business plan and then make the decision as to whether to continue with the VA idea or to find something else.  When she was working on the business plan, forced to consider and make decisions regarding a wide range of topics that effect a business, she began to feel more comfortable about starting her own business.  The writing of the plan forced her to conceptualize a lot of topics and she quickly realized that starting a business was well within her ability. The plan was completed, and she started operations.

7.1 Personnel Plan

Sadie will be the sole employee.  While the business could generate more revenue if she hired and trained additional people, her need for reasonable income, flexibility, enjoyable work, and full time employment was satiated so it will remain a one person business.  Sadie will be taking a base salary with the expectation that she will also be able to use some of the net profit one it starts accumulating.

Financial Plan investor-ready personnel plan .">

The following sections will outline important financial information.

8.1 Important Assumptions

The following table details important Financial Assumptions.

8.2 Break-even Analysis

The Break-even Analysis indicates what will be needed in monthly revenue to reach the break-even point.

8.3 Projected Profit and Loss

The following table and charts will indicate Projected Profit and Loss.

8.4 Projected Cash Flow

The following table and chart will indicate Projected Cash Flow.

8.5 Projected Balance Sheet

The following table provides information regarding the Projected Balance Sheet.

8.6 Business Ratios

The following table provides information regarding business ratios specific to Everywhere Assistant as well as rations specific to the Administrative Service Consultant industry. Please note that making a comparison of a virtual assistant and a administrative service consultant is a difficult comparison.  It is expected that the ratios will be quite different between the two as a VA is a home based, in this case single individual business.

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Starting a Secretarial Business

Tell us what a secretarial service does and the types of services you can offer.

Well, typically a secretary at an office provides typing, which today is called word processing, and in addition to just plain typing they also provide a variety of office support services, which could include filing, anything that a business needs, basically. To be more specific, typing can mean typing letters, invoices, proposals, it can be business plans, contracts, papers, applications, and even complete books or procedure manuals, anything, so as a secretarial service you will get small jobs and you will get large jobs. Another service that’s quite popular is what people refer to as data entry, and most of that really means typing addresses and putting on mailing labels. In addition to some services like typing, some people will offer additional services that require more advanced skills, and that can be fliers and brochures and newsletters, which is traditionally called desktop publishing. When the Macintosh came out with Pagemaker, it was called desktop publishing. Today I don’t hear that term that much, but I refer to anything that requires more layout skills and also you may be asked to answer telephones, record keeping and so on, although practically it happens very little that home-based secretarial services provide answering service. There are people that actually put up a whole telephone system, and there are people that even provide mailing services and have specialized mailing equipment. So it can really vary from typing services to anything that people need. It can be Internet research, it can be even resume writing, most secretarial services do provide resume typing, but if you really want to learn the skills of resume writing it’s not that hard to do, and it can create additional profits. Transcription is one of the things that I recommend that everyone provide because it creates a lot of additional hours of work and it’s very profitable and you can get a lot of repeat business when you do transcription. And I’m not referring here to medical transcription or legal transcription. It’s a little area that’s not very well known, what they call business transcription. You can transcribe anything from interviews that your clients will do, like a writer who needs interviews transcribed, Insurance companies, public speakers use a lot of them. It’s a good area to get into as a secretarial service.

What about payroll and bookkeeping? Are these the types of services that are provided by some secretarial services?

They can be. Mostly not payroll services because they’re more advanced kind of work, they’re more specialized. But regular bookkeeping is provided by some secretarial services, but not by the majority of them. What’s the difference between a secretarial service and a virtual assistant?

There’s not that much difference. A virtual assistant considers themselves more experienced. They also do a larger variety of work. They can do Internet research, they can specialize in Web design or copywriting or other promotional writing. They need to be more Internet knowledgeable because they have to be able to upload files and download files. In general, they feel superior to secretarial services, but the main difference really when it comes down to it is that the secretarial service typically provides services to local people, where the VA can provide services to anyone. But you can call yourself a VA when you’re a secretarial service.

What are some of the advantages for companies who hire secretarial services?

There’s quite a lot of advantages. Businesses don’t have time to type, they don’t have time to do their own filing, so they farm those jobs out because then they can do what they’re doing best. It’s a more productive way for them to work conduct their business. They don’t need extra computers, they don’t need extra desks, so they’re saving some space. You usually can do a better job when you’re creating documents than the owners of a business would do because that’s what you’re specializing in. And they don’t have to learn a bunch of stuff they don’t want to do.

Is it hard to learn how to do? Are there secretarial schools or can you take a secretarial course?

You have to have typing skills. You don’t have to be fast, but you have to know how to type and you have to be able to learn some of the formatting features that your clients are going to want. You have to know how to line up paragraphs nicely, how to create bullets, things like that. In general, you can learn it yourself if you want to, that’s basically what I personally did with a few extra classes that I did take. I do recommend that you do take a couple computer classes. You can take Windows classes so you don’t get in trouble using your old computer. You can take word processing classes, Excel classes, anything you want to learn. A good place to do that is look at your local community colleges. They’re very good. There’s also career centers, there is regional occupational programs, they’re called ROP. There are traditional secretarial schools. They’re really used by people who want to work in an office. No one will ask you for a degree. None of your clients will ask you for a degree. A lot of the VA websites are actually selling certificates for VA’s, but the bottom line is your clients are not interested in a certificate or in a degree, what they’re really interested in is that you can do the job, and that you do it well. So regardless how you learn your skills, the bottom line is you have to do them and you have to do them well, and all the rest is really not that important.

Do most people who start a secretarial service have previous experience as a secretary or administrative assistant?

The secretarial business appeals to people that have the experience that have been secretaries in the past, but I also know a lot of people that had no experience whatsoever, that just had a computer, they know how to type, and they wanted to make money at home with their computer. So they answer is some do have previous experience and some don’t. It helps if you do have the experience, but it’s not necessary.

What do you need to get started? I mean, how much does it cost to get started in this business?

If you have a computer and a printer, then it costs very little. Of course if you don’t have a computer, it costs you the cost of a computer, but you can have any basic system if you’re just going to provide word processing services. Any computer that you buy today, any new computer will do everything you need done. You can buy used computers for almost nothing, some people will give away their old computers, so it doesn’t have to cost anything if you’re a little bit creative. You do have to have a printer, so that’s one expense that some people have to make because they may not have a printer for their own use. And pretty much you get a ream of paper, you make business cards, you get a telephone, and you can be in business.

Can companies hire you for just a small job, or do most secretarial services require some sort of longer term contract, or can you work on a retainer basis?

Yes, you can do that when you first get started. You will get a lot of small jobs. Personally I don’t really want to do them anymore, but at the beginning I took just about any work I could get. What’s important, though, is that you charge a minimum fee. I will charge $20 even just to change an address or change someone’s name, or anything, even a one-line change, a five minute change, will cost them $20. And people really don’t complain about it. There are people that make an agreement, and that’s a really, really good thing to do, but very few people actually do it. The people that do it do very well. You can have an ongoing agreement for a minimum amount of work. And let’s say your client will pay you 20 hours of work and in compensation for that you give them a discount on the work. It works for both people, and you’re guaranteed to get that work. So it’s a very good marketing technique, but that very, very few secretarial services are actually using.

Can you offer a secretarial or virtual assistant service to businesses say in another part of the country, or do most people limit their services to their local area?

I recommend when you first get started, that you contact your local clients. It’s easier to get local clients than to get clients that you don’t know that are far away. It has the advantages that you can meet with people the first time, although I hardly see any of my clients. I see them the first time, and then everything else is done by e-mail, most of the time, so I hardly ever see my clients. I even have a pickup box where when the work is done, if it’s physically work, if it’s printed work that they have to pick up, they can just come to my door and pick it up from the outside without really even coming in. But it is harder for someone who gets started to work like a VA does to get clients that they have no personal contact with.

How much do most secretarial businesses charge for their services.

The prices are all across the board. You have students that only charge like $10 which is really ridiculous. And if you really want to be a professional secretarial service, you have to calculate all your non-billable hours, it’s not because a secretary in an office makes $10 an hour that you should only charge $10 an hour. You’re not going to have forty hours a week billable time. You’ll have to spend some time marketing, you’ll have to spend some time doing administrative tasks and so on, so my recommendation is that you charge a minimum of $25 an hour, and you should ideally get about $30 an hour. But it varies, mostly depending on how confident you feel about your services. That’s really the bottom line.

What are some ways you can find customers for your secretarial service? What kind of marketing and advertising do you recommend?

The best kind of marketing is word-of-mouth. And of course that takes time. I love referrals personally, but you don’t get them when you first get started. So at first you have to start doing a lot of networking, contacting people in person, talk to your friends, ask them for referrals, ask them who they know, visit businesses, do yellow page advertising, do direct mail, you can send out letters, you can hand out business cards to anyone that you meet, you can send out fliers, any of those things. The main thing with marketing is you want to do it on an ongoing basis. People think, one mailing I send out twenty letters or even a hundred letters, and they don’t get results immediately and they get discouraged. Well, that’s not how direct marketing works. You have to send out letters or postcards. Postcards is actually what I recommend more than letters. You send out postcards and a month later or two months later, you send them out again, and then again. It’s just not a one time shot. It’s an ongoing thing.

Are there a lot of typing scams out there? What are some red flags you should look for?

There’s a lot of people promising things they don’t deliver. One of the main scams are people buying lists of clients, and they present it as people that have typing work. Number one, those people don’t have typing work, they just use lists from the phone book, I mean you’re better off actually compiling your own local lists of the types of businesses that you want to work with. There’s also your old envelope typing scam, which is worthless as you know, but people still fall for that. Just a lot of promises of people that don’t deliver. I actually have a really good report about typing scams on my website. If you go to the website at the top right there’s a little box that you can click on to get a report about typing scams.

Should you offer to pay referral fees if customers recommend your service?

I don’t recommend paying referral fees, but I do recommend giving people an incentive to give you referrals, and one of the incentives can be that you give people a discount, you give them part of the work for free, but they still always have to buy something. Like you can give people a free resume update or something. You could give them a one page free if they buy a minimum of thirty dollars, something along that line. It’s really good to give them an incentive. And another thing is also to upsell your existing clients. Not only ask people for referrals, but also tell them what other kind of work you can do for them, so you get more work from your existing clients.

Are there useful magazines or books or websites related to this industry that would be helpful?

There’s no magazines that I know of, there used to be some newsletters. The books I’ve found in the past were really all outdated and I haven’t seen any good ones or know of any good ones recently. What I do recommend is really look on the Internet, subscribe to some on-line newsletters about marketing about small businesses, even bookkeeping for small businesses, things like that, copywriting, because anything you promote involves copywriting, so those are all good skills that you can learn and that you can find online by subscribing to some ezines or newsletters. There are a couple good products out there that I am aware of that I have read, and one of them is Michelle Miller’s book about medical transcription , and the other one is Lisa Taliga’s book about becoming a VA . There used to be an organization for secretarial services, and today everything is targeting towards VA’s. There is an organization for virtual assistants, it’s called the International Virtual Assistants Association . I also recommend that you join local computer user groups. I used most of what I learned at the beginning from going to, at the time what was a Macintosh user’s group, I don’t recommend today that you get a Mac, basically because of the incompatibilities, and because most of your clients are using a PC, but there are a lot of computer user groups, and they’re very useful in learning your computer skills basically. And I do recommend that you network with other secretarial services, and if there’s no organization in your area you could start an informal group yourself and network with other people. I have a breakfast with other secretarial services on a regular basis here locally and that works very well. You get referrals from people, you get information, you can have someone that you can call and ask a question, you get a lot of information when you form a group like that that people normally wouldn’t give you if they don’t know you.

What are the biggest mistakes people make when they’re just starting a secretarial service?

There are two big mistakes that people make, and the first one is that they charge too little money. And you can’t stay in business if you don’t charge enough for your services. That’s the biggest mistake I know people make. And the other mistake is they really expect business to come to them instead of going out of their way and marketing their business on an ongoing basis. They think they can just market once and be done with it, and then they stop marketing.

Leva Duell is the creator of The Secretarial Business-In-A-Box.

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Starting a Business

How To Start A Secretarial Services Business? Best Guide Of 2024

By ankita tripathy starting a business published on: 25 april 2022 last updated on: 08 november 2024.

Did you know that the secretary is one of the most important members of a company? People who work as secretaries have a major role in the business or company. They are responsible for the efficient working of the people in the company.

As a result, they act as the link between the owner and the employees in most companies. They ensure that the employees implement the decisions that the directors take.

In other words, a secretary plays a pivotal role in maintaining a link between the directors and the employees in a company and manages the smooth working of the business.

But hiring a secretary is a massive task. It is almost like a luxury, especially for small businesses . This is why there has been a growth in the secretarial services business.

If you think you need to hire a secretary to maintain the administration of your work, many secretarial services are available. Don’t know what it is? Stick till the end to know more.

What Is Secretarial Services?

Many businesses provide secretarial assistance to the companies and businesses that need it. This is the secretarial services business.

In other words, in this type of business, you assist companies that cannot afford the luxury of hiring a secretary.

The help that you offer can be dealt with physically or even virtually.

Read More: Top 10 Business Name Generators Based on Customer Reviews

Secretarial Services: Why Do Companies Need Them?

Most of the time, people or business experts call secretaries the company’s backbone. So it is because they play a major role in managing the smooth functioning of the company.

There are many reasons why companies and even small businesses look for secretarial assistance. Some of these needs are.

• Arranging meetings
• Arranging the annual reports
• Maintains the registers
• Looks after the details of the events
• Makes the working of the company smoother

How To Start A Secretarial Services Business?

Do you want to start a secretarial services business to provide secretarial services to the businesses? It is totally possible.

If you want to start a secretarial services business, you should know a few things. They are,

1. Acquire The Skills

Why would someone choose you or your business for their company if you cannot show them that you have the skills to do their job effectively? Have you ever thought like that?

To become someone who can provide secretarial assistance to other companies, you need to have basic skills. You need experience.

Many companies look for secretaries with certificates. That shows how eligible a candidate is for doing their work. The Chartered Governance Institute is a great body for Company Secretaries in this matter.

2. Write An Effective Plan

Without having a plan, you cannot start anything. A plan is needed for you to have a direction. All the decisions you make as the owner of a secretarial Services Business have to be in line with the plan.

Have a business plan that is practical and not far-fetched.

Start by outlining the kinds of services you wish to provide to the customers or clients seeking secretarial assistance.

3. Networking

Networking is one of the most important things to do when starting your secretarial services business. Network and connect with business owners looking for assistance, and make them know that yours is a business that provides the services they need.

Distribute your business cards if you feel like it and connect with people who are looking for help. 

4. Analyze Your Competition

Analyzing the competition is something that you need to do even before starting your business and promoting it. First, analyze the competition that exists in your field and location.

If you think that no other company provides B2B assistance to the businesses (big, medium, or small) or brands that require it, go ahead with your plan.

Only after knowing whether there are any companies who provide similar services like yours will you be able to make a strategy that will best work for your company.

Promoting your business is something that can never skip your mind. People will not know about your company and your services unless you tell them.

Your target audience needs to know about your business for connecting with you and purchasing your services. Make sure that you promote your brand on all platforms. Many social media platforms are great for advertising .

Mistakes To Avoid

Even after starting your secretarial services business, you may find that you are not gaining results. This failure can be because of some mistakes that you are making.

Here are the mistakes that you need to avoid.

You May Like To Read This: How To Start A Business Under $500? A Step-By-Step Guide Of 2022

1. Fix The Charge

If there is one mistake that people make while starting their secretarial services business, then it is not fixing their charge. Most of the time, they charge very less for their services.

If you do not charge enough money for the services that you are providing, you will not be able to sustain yourself for a long time.

2. Don’t Sit And Hope

Most business owners make the huge mistake of not being on their feet. Instead, they think and hope that businesses that require assistance will come to them.

They do not go out in search of companies that need assistance. So if you have to maintain your business, you need to always keep networking.

Frequently Asked Questions (FAQs):

Q1. what is company secretarial services.

A company or corporate secretarial services refers to the administrative functions that help provide great corporate assistance and governance to the company. It helps to manage the administrative works of the company in compliance with the rules and regulations that govern businesses.

Q2. What Does Secretarial Work Mean?

A professional who manages the administrative works of a business or a company is known as a secretary. A secretary needs to do all the jobs that ensure the company’s proper functioning, from preparing documents to deliberating in decisions of the directors to the employees.

Q3. What Are Secretarial Skills?

The most important skill that is required to become a secretary is that of being organized. Without organizational skills , someone can’t become a secretary. In addition , professional communication is also a necessary skill required to manage the company’s communications.

Q4. What Are Secretarial Services For Small Businesses?

There are many virtual secretarial services that provide administrative support on a virtual level to small and medium-sized businesses and organizations. Westside Secretarial Services is one such example that helps small businesses.

And That’s A Wrap!

A secretary is often known as the backbone of the company. This is because they ensure that the employees know about the directors’ decisions and implement them effectively. They also ensure the smooth working of the business.

A Secretarial Services Business is a B2B marketing where you provide secretarial assistance to the businesses who need it. You can easily start providing secretarial services from your home. All you need to do is have necessary skills, network and promote your brand .

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Ankita Tripathy

Ankita tripathy loves to write about food and the hallyu wave in particular. during her free time, she enjoys looking at the sky or reading books while sipping a cup of hot coffee. her favourite niches are food, music, lifestyle, travel, and korean pop music and drama..

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The 7 Best Business Plan Examples (2024)

As an aspiring entrepreneur gearing up to start your own business , you likely know the importance of drafting a business plan. However, you might not be entirely sure where to begin or what specific details to include. That’s where examining business plan examples can be beneficial. Sample business plans serve as real-world templates to help you craft your own plan with confidence. They also provide insight into the key sections that make up a business plan, as well as demonstrate how to structure and present your ideas effectively.

Example business plan

To understand how to write a business plan, let’s study an example structured using a seven-part template. Here’s a quick overview of those parts:

• Executive summary: A quick overview of your business and the contents of your business plan.
• Company description: More info about your company, its goals and mission, and why you started it in the first place.
• Market analysis: Research about the market and industry your business will operate in, including a competitive analysis about the companies you’ll be up against.
• Products and services: A detailed description of what you’ll be selling to your customers.
• Marketing plan: A strategic outline of how you plan to market and promote your business before, during, and after your company launches into the market.
• Logistics and operations plan: An explanation of the systems, processes, and tools that are needed to run your business in the background.
• Financial plan: A map of your short-term (and even long-term) financial goals and the costs to run the business. If you’re looking for funding, this is the place to discuss your request and needs.

7 business plan examples (section by section)

In this section, you’ll find hypothetical and real-world examples of each aspect of a business plan to show you how the whole thing comes together. 

• Executive summary

Your executive summary offers a high-level overview of the rest of your business plan. You’ll want to include a brief description of your company, market research, competitor analysis, and financial information. 

In this free business plan template, the executive summary is three paragraphs and occupies nearly half the page:

• Company description

You might go more in-depth with your company description and include the following sections:

• Nature of the business. Mention the general category of business you fall under. Are you a manufacturer, wholesaler, or retailer of your products?
• Background information. Talk about your past experiences and skills, and how you’ve combined them to fill in the market. 
• Business structure. This section outlines how you registered your company —as a corporation, sole proprietorship, LLC, or other business type.
• Industry. Which business sector do you operate in? The answer might be technology, merchandising, or another industry.
• Team. Whether you’re the sole full-time employee of your business or you have contractors to support your daily workflow, this is your chance to put them under the spotlight.

You can also repurpose your company description elsewhere, like on your About page, Instagram page, or other properties that ask for a boilerplate description of your business. Hair extensions brand Luxy Hair has a blurb on it’s About page that could easily be repurposed as a company description for its business plan. 

• Market analysis

Market analysis comprises research on product supply and demand, your target market, the competitive landscape, and industry trends. You might do a SWOT analysis to learn where you stand and identify market gaps that you could exploit to establish your footing. Here’s an example of a SWOT analysis for a hypothetical ecommerce business: 

You’ll also want to run a competitive analysis as part of the market analysis component of your business plan. This will show you who you’re up against and give you ideas on how to gain an edge over the competition. 

• Products and services

This part of your business plan describes your product or service, how it will be priced, and the ways it will compete against similar offerings in the market. Don’t go into too much detail here—a few lines are enough to introduce your item to the reader.

• Marketing plan

Potential investors will want to know how you’ll get the word out about your business. So it’s essential to build a marketing plan that highlights the promotion and customer acquisition strategies you’re planning to adopt. 

Most marketing plans focus on the four Ps: product, price, place, and promotion. However, it’s easier when you break it down by the different marketing channels . Mention how you intend to promote your business using blogs, email, social media, and word-of-mouth marketing. 

Here’s an example of a hypothetical marketing plan for a real estate website:

Logistics and operations

This section of your business plan provides information about your production, facilities, equipment, shipping and fulfillment, and inventory.

Financial plan

The financial plan (a.k.a. financial statement) offers a breakdown of your sales, revenue, expenses, profit, and other financial metrics. You’ll want to include all the numbers and concrete data to project your current and projected financial state.

In this business plan example, the financial statement for ecommerce brand Nature’s Candy includes forecasted revenue, expenses, and net profit in graphs.

It then goes deeper into the financials, citing:

• Funding needs
• Project cash-flow statement
• Project profit-and-loss statement
• Projected balance sheet

You can use Shopify’s financial plan template to create your own income statement, cash-flow statement, and balance sheet. 

Types of business plans (and what to write for each)

A one-page business plan is a pared down version of a standard business plan that’s easy for potential investors and partners to understand. You’ll want to include all of these sections, but make sure they’re abbreviated and summarized:

• Logistics and operations plan
• Financials 

A startup business plan is meant to secure outside funding for a new business. Typically, there’s a big focus on the financials, as well as other sections that help determine the viability of your business idea—market analysis, for example. Shopify has a great business plan template for startups that include all the below points:

• Market research: in depth
• Financials: in depth

Your internal business plan acts as the enforcer of your company’s vision. It reminds your team of the long-term objective and keeps them strategically aligned toward the same goal. Be sure to include:

• Market research

Feasibility 

A feasibility business plan is essentially a feasibility study that helps you evaluate whether your product or idea is worthy of a full business plan. Include the following sections:

A strategic (or growth) business plan lays out your long-term vision and goals. This means your predictions stretch further into the future, and you aim for greater growth and revenue. While crafting this document, you use all the parts of a usual business plan but add more to each one:

• Products and services: for launch and expansion
• Market analysis: detailed analysis
• Marketing plan: detailed strategy
• Logistics and operations plan: detailed plan
• Financials: detailed projections

Free business plan templates

Now that you’re familiar with what’s included and how to format a business plan, let’s go over a few templates you can fill out or draw inspiration from.

Bplans’ free business plan template

Bplans’ free business plan template focuses a lot on the financial side of running a business. It has many pages just for your financial plan and statements. Once you fill it out, you’ll see exactly where your business stands financially and what you need to do to keep it on track or make it better.

PandaDoc’s free business plan template

PandaDoc’s free business plan template is detailed and guides you through every section, so you don’t have to figure everything out on your own. Filling it out, you’ll grasp the ins and outs of your business and how each part fits together. It’s also handy because it connects to PandaDoc’s e-signature for easy signing, ideal for businesses with partners or a board.

Miro’s Business Model Canvas Template

Miro’s Business Model Canvas Template helps you map out the essentials of your business, like partnerships, core activities, and what makes you different. It’s a collaborative tool for you and your team to learn how everything in your business is linked.

Better business planning equals better business outcomes

Building a business plan is key to establishing a clear direction and strategy for your venture. With a solid plan in hand, you’ll know what steps to take for achieving each of your business goals. Kickstart your business planning and set yourself up for success with a defined roadmap—utilizing the sample business plans above to inform your approach.

Business plan FAQ

What are the 3 main points of a business plan.

• Concept. Explain what your business does and the main idea behind it. This is where you tell people what you plan to achieve with your business.
• Contents. Explain what you’re selling or offering. Point out who you’re selling to and who else is selling something similar. This part concerns your products or services, who will buy them, and who you’re up against.
• Cash flow. Explain how money will move in and out of your business. Discuss the money you need to start and keep the business going, the costs of running your business, and how much money you expect to make.

How do I write a simple business plan?

To create a simple business plan, start with an executive summary that details your business vision and objectives. Follow this with a concise description of your company’s structure, your market analysis, and information about your products or services. Conclude your plan with financial projections that outline your expected revenue, expenses, and profitability.

What is the best format to write a business plan?

The optimal format for a business plan arranges your plan in a clear and structured way, helping potential investors get a quick grasp of what your business is about and what you aim to achieve. Always start with a summary of your plan and finish with the financial details or any extra information at the end.

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