A business plan is an important tool for any organisation to define a roadmap to growth and to chart its progress.
For an Indigenous organisation, business plans can be used in not-for-profit community-controlled organisations, as well as social enterprises and Indigenous businesses.
But what goes into a business plan? Different consultants and sources seem to indicate different contents, but in reality, there are some basic details you need to include in a business plan.
In our related online learning website teikoh.com we have resources and training to create your business plan. The following video is an excerpt from the course and discusses business plans for commercial entities, but the principles for not-for-profit entities are exactly the same.
The basic components of a business plan are: –
- Vision, Mission, and Values
- Goals and Objectives
- Products and Services
- Markets, Customers, Beneficiaries
- Operations Planning
- Risk Management Strategies
- Monitoring and Evaluation
How you then break down each major component into sub-categories will depend on the type of organisation and the types of activities that you need to plan for.
The video discusses some of these sub-categories. Watch the video, and if you need any assistance to help you prepare your business plan, go to our website at https://otsmanagement.com.au and click on the “Contact Us” tab.