Your expected sales form part of your budget. A plan can help you meet your sales targets.
Why it's important
To be profitable, your business will need to earn more than you spend.
One of the key ways to make your business more profitable is to increase sales revenue. A thought out strategy can help you do this.
Do your research
Your sales plan will outline your sales goal. Research the market to make sure your goal is realistic.
Research should help you understand your:
- target customers
- demand volumes
Use this market research to set sales goals. Find out how to research your business idea.
Decide how to meet your goals
Once you have a sales goal, you will need to come up with a strategy to meet this goal.
Strategies can include:
- finding new markets or customers
- developing new products
- changes to pricing
- using add-ons or upselling.
Make sure you follow laws about pricing. Find out more on the Australian Government's Business website.
Business and marketing plan
Your sales plan can be part of your broader marketing or business plan.
To find out if a marketing plan is right for you, go to the Australian Government's Business website.