A business plan is a road-map for your business which details your goals and objectives and the actions you need to take to get there.

What are the benefits of having a business plan?

A business plan can provide:

• An agreed route forward for your business
• Your key objectives for the next three to five years and how they will be achieved
• Directions and timelines to help you achieve your goals
• An outline of your day-to-day operations and decisions
• A business plan can be used as a benchmark to measure your progress as you work towards achieving your goals

Once you have a clear business plan/strategy the next step is to determine what technology you need to meet the goals contained in your plan. It's best to ensure you have a clear understanding of how digital services and technology can help you achieve your goals before committing or making a purchase.

The NZ Business website provides some great guidance on how to develop a business plan.

Steps to Creating a Business Plan

Step One:  There are a number of organisations that provide free tools and advice on writing a business plan such as ANZ, NZTE. Some provide free templates, and some such as Business.govt.nz also provides examples of what other businesses have put under that heading. Do some research and find the template (or combination of templates) that best fit your organisation.

Step Two:  Sit down with the template as a leadership team (or as an individual) and work your way through your chosen template/guideline.

Note: For more information on how to create a business plan, watch ANZ Business Banking's video below.