Business Plan 114
Many people think that the business plan is the cornerstone on which their business is built. While that may be a bit extreme, the plan and the process to develop a plan, clearly improves the probability of businesses’ success. A good plan helps clarify what the business goals should be (compared to what they are now), and helps determine the viability of the business before and after achieving those goals. Investors and financial institutions require a proper business plan before providing funding.
Why Create a Business Plan?
Developing a business plan is a crucial step contributing to the success of a business. Business plans are developed for many reasons:
Business Plan as a Road Map
By taking that step back, you see the big picture more easily. A plan is not just used at the start-up, but also is a helpful touchstone to remain on plan while continuing to develop the business.
Will the Business Fly?
The business plan provides a clear way to determine the viability of the business idea. The plan focuses you on clarifying how long and through what means the company will be profitable; what funding (if any) will be needed; and what will be the roadblocks to overcome.
Increased Knowledge
Your business plan should be used as a guide for your Company’s internal use. This will help you to achieve the goals you have established for your venture.
Sales Tool
The business plan will be required to sell your idea to potential investors, lenders, and management. It provides a useful way of explaining your business to existing or potential colleagues, staff and business partners. It provides legitimacy with other parties too, such as landlords.
First Steps
a) Determine your audience, objectives and action time-line
b) Gather the industry research
c) Organize the information
d) Write the plan
Susan Mackasey
http://www.articlesbase.com/business-opportunities-articles/business-plans-75023.html
July 5th, 2010 at
If you have never written one before then yes have a professional write it. I am looking for one myself to get a grant for a candle business.If your going to write it yopurself, take a course on it to be really affective.
Good Luck!
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July 5th, 2010 at
You should write your business plan. You should know what you’re going to do. That’s called planning.
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July 5th, 2010 at
You can easily do it yourself. Go to http://sba.gov , http://score.org or http://bplan.com for sample business plans and instructions on how to write a business plan.
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July 5th, 2010 at
I would write it myself, but with help. You can go to score.org or sba.gov (no, i’m not just copying Brutus, i used them myself) for starter plans, then take it to your local small business development center for more help. They’ll provide you with one on one assistance to making it sound effective and professional. If someone else writes it, you may get asked a question about it and have no idea what they’re referring to… plus i agree with the person above, if you’re starting a business, you need to be the one to do the planning, not someone else.
Do the footwork to find your competition, pros and cons, what ifs, financial situation, etc. Not thinking about that stuff is why 1/2 the businesses fail their first year. Score.org has tons of forms and downloads you can fill in really easy that will help you organize your thoughts for writing the plan. If you don’t have an SBDC, call a college near by to see if they offer business plan help. Good luck!
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small business owner
July 5th, 2010 at
Business plans???
is it easier to have a professional write my business plan or should I do it myself? who does professional business plans?