January 6, 2014

What is a Business Plan & What Can It Do For You?

Below you will find a business plan template or business plan format, describing the main components of a traditional business plan. It’s basic design has been around for many many years, maybe even hundreds, I’m not sure, but it goes way back.

A business plan is important both for you and for others who want to know about your business. It describes your business, it’s goals, and financial projections. In short, it serves as your business’s resume.

Every business, of course, needs a direction and a strategy. That’s what a good business plan will give you. Remember this: a well-written business plan must provide your business with a blueprint for success. Your business plan will also go a long way to help you keep your thinking organized and in perspective.

Your plan does not have to be long and complicated, especially at the beginning. For smaller businesses, keep it as simple and succinct as you can, yet informative. Use it as a living document, try to keep it flexible, modifying it often as needed.

I actually know some small businesses without one and still doing pretty good. However, most business people would agree that every business needs a business plan in order to reach its full potential.

Now you can either purchase business plan software, which might end up saving you some time, or you can save money by creating your own business plan using the standard format.

Continue reading “What is a Business Plan & What Can It Do For You?”

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