How to Write a Tutoring Industry Business Plan
Business growth won't happen just because you have a website and provide a service.
If you want your business to grow you must plan for the future and think long-term. This means that you must have goals to be achieved over time and a plan of how you are going to achieve these goals.
This is what a Business Plan is all about.
A great Business Plan will let you work out the current state of your business, assess what is and isn't working, and help you create a step-by-plan plan for building on your strengths and overcoming your weaknesses.
Overall Action Plan
Your tutoring business success depends on the quality of the service you provide and the tools you use to deliver this service.
Are you still doing the same things in your business as you were two years ago? Five years ago? How about ten years ago?
Are you aware of changes in technology and understand how these can improve your tutoring business?
Do you know your profit margin? Do you know how to work this out?
These are only a small number of things that must be considered in order to grow your business.
But to start, you need to do the following:
- List your short-term goals: Where do you want your business to be in 6 months’ time?
- List your medium-term goals: Where do you want your business to be in 12 months’ time?
- List your long-term goals: Where do you want your business to be in 3 years’ time?
A Business Plan will establish the means by which you are going to achieve these goals.
The next step is to develop a SWOT analysis, followed by a detailed examination of all your financials.
This will provide you with very detailed information about the current state of your business and make planning for the future so much clearer and easier.
This process is likely to highlight aspects you had not even considered or previously thought of, such as integrating the latest technological trends into your business.
Whatever the outcome of this process, you are always the one in control and who determines what you will actually do next.
To learn more about writing a Business Plan by starting with a One-Page Action Plan, click here.
If you want to develop a Business Plan but really don't know what to do, you might want to consider purchasing my editable template specifically designed for tutoring businesses.
Business Plan Template