Writing business plan & setting goals?

[happytobemrsg]

I’m in an extremely lucky position to be able to start up my own consultancy business without the financial pressures of having to earn X per month. I’m 31.

I’m currently a contractor working for one client three days a week (a role I got through ex-employment/family connections).

I’ve recently discovered there is a wider need for my services from start-up & SME businesses which no one is currently offering.

DH believes I can turn my skills into an actual business- Ltd company, multiple clients, eventually hiring other part time contractors to help with workload with hardly any initial outlay (just insurance & accounting/admin costs).

We started writing my business plan & I feel overwhelmed already. I don’t know what my short/mid/long term goals should be. Are they personal or professional? What defines a successful business?

Writing a business plan isn't a quick job, and yes, it's a whole Pandora's Box because it forces your mind to explore all the possibilities.

The short, medium and long term goals are really about the business rather than you personally, though there could be some overlap. For instance, if your business was in the area of say travel and you had a personal interest in South Sfrica then you might have short term goals to grow and maintain the business you already have in Europe. Your Medium Term goals might be to explore new resorts in South Africa with a view offering package tours there and your Long Term goals might be to offer Antarctic exploration!!

However don't forget that the post important part of any Business Plan is the part with the figures. The rest is interesting but if the figures don't make sense then neither does the rest of it.

I know that you might not want to discuss it here so PM me if you need anything.