Planning defines your business

In every area of life, upfront planning ensures a more effective, better organised and often less expensive result. You shouldn't rush eagerly into a new venture without a business plan.

Planning your business helps you:

• identify where you are now
• decide where you want to be in the future
• determine the best ways to achieve your goals.

Important first steps

When planning your business, you need to:

• identify your business strengths
• establish short-term business goals (1 to 2 years), as well as long-term business goals (2 to 5 years)
• set timeframes for achieving your goals
• schedule regular reviews of what you've achieved.

This section of the Creative Business Toolbox takes you through the steps to plan your business. You'll learn about:

• writing a plan
• establishing your business profile
• choosing where to set up your business premises
• registering your business
• applying for intellectual property & business licences
• analysing your business's feasibility
• financing & marketing your ideas
• managing your people.