Guidance

How to develop a business plan

Turn your idea into action with a solid plan.

A business plan helps you understand your idea better, set goals, and figure out how to make it work. It doesn’t need to be complicated, it just needs to make sense to you. Here's how to break it down:

First published:
30 July 2025
Last updated:
30 July 2025

Contents

Your big idea

  • What is your business about?
  • What product or service are you offering?
  • What makes it different or exciting?

Tip: Write this like you're explaining it to a friend.

Who's it for? (Your customers)

  • Who will buy or use your product/service?
  • How old are they? What do they like? Where can you find them?

Understanding your audience helps you shape your brand and marketing.

Your goals

  • What do you want to achieve in the next 6 months, 1 year, or 3 years?
  • Do you want to sell online? Open a market stall? Build a brand?

Keep your goals SMART – Specific, Measurable, Achievable, Relevant, Time-bound.

Marketing plan

  • How will people hear about your business?
  • Social media? Word of mouth? Flyers? Events?

Think about the best way to reach the people you want to sell to.

Money matters

  • How much will it cost to start?
  • What will you charge?
  • How will you make money and what will your profits look like?

Be realistic. Don’t forget costs like materials, tools, website fees, etc.

Who's involved

  • Are you running this solo or with others?
  • Do you have any mentors, supporters, or advisors?

List any help you have, even informal support from family, friends, or school.

What's next? (action plan)

  • What are your next 3 steps?
  • When will you do them?
  • What do you need to get started?

Start small, but think big.

Need help?

We’re here to guide you. You can register for help from an advisor.

Register for Support from Big Ideas Wales


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