Commonwealth Bank Business Plan

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Writing a business plan is one of the first things many businesses do. Over time, as you find what does and doesn’t work for your business, it’s worth updating your plan.

This will help you to reflect on what you’ve learned and plot the best way forward.

Here are some key points to have front of mind at each stage of building your business. These two key documents can help you set goals, shape your business, track progress and communicate your aims and objectives to others.

Find out more on how to develop a business plan and digital strategy.

Depending on what type of online store you want to create, you may be able to buy a web hosting package and set up your shop yourself.

If you want something more individual and greater control, you can also discuss your options to build a site from scratch with a web developer.It does not have regard to the financial situation or needs of any reader and must not be relied upon as financial product advice.You should consider seeking independent financial advice before making any decision based on this information.Decide on a domain name that reflects what you do and will also make you easy for customers to find through search engines as well as remember.To register your domain name, you’ll need to find an accredited registrar and pay a fee.Enter your financial figures in your existing business plan.Update your cash flow statement and budget with your actual results.Many online stores also have their own blog to help engage shoppers further and create a deeper connection with their audience.Search Engine Optimisation (SEO) is another large part of doing business online.This should help you get an understanding of where you’re actually spending money and the return it’s bringing.You’ll also get an overview of any assets and liabilities. What goals have you achieved and what do you still want and need to work towards?

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