Here is the way I would encourage you to set up a growth business plan: • Do some dreaming about what you would like your lifestyle to be • By dreaming decide on an average income you would like to have over the next few years • Decide how many years out you would like your plan to cover • Decide how much profit you would like for your business to generate above the income you want for yourself. • Set up a profit and loss statement of your existing business or your proposed business • With the right business knowledge and a profit and loss statement you can actually use that data to see what your business would need to do for you to give you that income and profit • Even better you can determine what size market you would need and even determine whether your market would support your business presently and in the future.
So, what would your business look like over the next 10 years to give you that? Could you build a plan that would show exactly how your business could do that? It would show what your sales, fixed expenses, material cost, labor cost, and variable expenses would need to be. It should also show you how many customers you would need and would show you what your profit and profit margins would be each year. All it takes is your current business numbers as we listed earlier and you can make a business plan as many years out as you like.