Tips for Writing a Sales Plan

Writing a sales plan can be very simple or very complicated, depending on the nature of your business.  Generally speaking, the more costs that a business has, the more involved and detailed their plans must be. 

Costs are not the only consideration, of course, but they are the things that can make or break a company.  Most businesses fail within the first year because the officers failed to consider all of the costs involved.

If you are selling products, you will need to calculate the amount of profit you can expect to make from each one.  Your profit margin may be lower on some products than others, if the costs are high or the going rate for the item is low. 

In addition to determining a per item profit margin, you will want to set a total profit margin goal.  You will use these goals on a monthly, quarterly and annual basis to gauge how well your business is doing. 

The total profit margin will include per item profits, unexpected costs, loss and other factors.  If you are not experienced in accounting, it’s a good idea to partner with someone that is. 

Ideally, we would all be able to choose an accountant that is also familiar with our specific type of business.  But, that’s not always possible.

Hiring an account to create a sales plan could be a good idea.  Hiring a business consultant is an even better one.  Business consultants can help you through each step, from the beginning, when your company is only an idea, to opening day and beyond. 

Is it possible to do it yourself?  Lots of people do.  The internet has made things a lot easier for entrepreneurs.  There are sample “fill-in-the-blank” templates for practically every kind of business. 

If you are a manager, you may have been asked to create a sales plan for an upcoming promotion.  Although you might feel overwhelmed by the task, it’s easier than you think.  Just take everything step-by-step. 

The first step is to summarize your objective.  What is it that you hope to accomplish with this promotion?  A car dealership might include the number of cars that they expect to sell during a month-long special promotion.

Be as specific as you can when listing your objectives.  Then list the strategies you will employ to achieve them. 

For example, you might be advertising the promotion on radio stations, sending out flyers, doing an internet ad campaign or participating in a charity event.  Anything that you can do to get the word out will be included when you are writing a sales plan for a special promotion.  The more accurate your predictions, the happier your boss will be. 

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