The Value of a Business Plan

A business plan serves 3 primary functions:

• Tool to communicate your ideas, research and plans
  A written business plan results in a more effective job of communicating with investors and thereby increasing your ability to borrow money. Share your business plan annually with bankers, accountants, attorneys and other professionals so they may have a greater opportunity to share their expertise with you and offer money-saving and time-saving suggestions.




• Basis for managing your business
  It sets your course for success. Your business' mission and objectives are clearly defined. This is important to remaining focused.




• Standard for measuring progress and making changes
  Written financial projections, goals and milestones may be used to compare actual performance to projections, flagging potential problems before they become serious. Necessary changes will be implemented more quickly and goals will be achieved sooner.

Business Plan Outline

Areas to Consider in Writing a Business Plan

5 Steps to an Effective Business Plan

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Bizy's Guide to: Business Planning by Peggy Murrah
This ebook will take you step by step through the business planning process. You'll learn why it's okay (even necessary) to break the rules in your strategic planning, how to stay ahead of industry trends, 7 key steps to create your strategy and finally create your business plan with the included worksheets.