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Write a Business Plan for Your Agency

By: Maggie Lonsdale BA (hons) - Updated: 21 Dec 2010 | comments*Discuss
Business Plan Business Plans Business

Writing a good business plan for your new recruitment agency is an important part of the process of starting a successful business. Even if you have worked in recruitment for a number of years and have your daily, weekly and monthly targets clearly defined, there is something about the overview of a business plan that can help you appreciate where you are going, why you are going there and how you’re going to get there.

The Practicalities of Writing a Business Plan

Although there is not simply one official way to write a business plan, there are a number of templates available to help you get started – the internet is the best place to find free templates or business plan software, although the business section of good book shops is also worth a look.

Once you have looked at a number of sample business plans, you can decide what headings and sub-headings suit your business. Think about what time scale you want to use – there is no point only having a one-year plan, but you do not need to go into lots of detail for the next ten years as your business will develop and diversify. The best way is to have an overview of where you see your business heading and what you can do to make it happen – include target markets, advertising and PR initiatives and clarify your USP.

Giving You a Focus

Writing a business plan forces you to create a focus for your business. Rather than just deciding to start work and building your list of clients and candidates, a good business plan will ensure that you have a focus to your activities. This can save you many hours of unsuitable business development and will keep you on track at times when it can seem rather daunting to be starting your own small business.

Once you have written your business plan, make sure that you keep referring back to it – you could even laminate a copy and have it on the wall of your office or home work space. This will help you write your short term To Do lists and you will be able to track your success more clearly.

Using Your Business Plan to Get Funding

If you are looking to gain funding to help you set up your recruitment business, your business plan needs to have a commercial focus as well as give you a business focus for your strategy and company development. A well-written, carefully presented business plan will make a big difference in how potential investors will see you.

If you are looking for bank funding, your bank manager will expect to have a clear presentation of where you see your business heading, what your projected turnover is and how you intend to use the money you are asking for. If you are aiming to get funding from another source, perhaps a business start up venture capitalist, you will also be expected to show why you think they would be interested in your new business and what you can offer them in terms is return or increased profile.

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