Friday, 13 June 2014

Business Plans: A Step-by-Step Guide

A business plan is a written description of your business's future, a document that tells what you plan to do and how you plan to do it. If you jot down a paragraph on the back of an envelope describing your business strategy, you've written a plan, or at least the germ of a plan.
Business plans are inherently strategic. You start here, today, with certain resources and abilities. You want to get to a there, a point in the future (usually three to five years out) at which time your business will have a different set of resources and abilities as well as greater profitability and increased assets. Your plan shows how you will get from here to there.

Before Writing Your Plan

  • How Long Should Your Plan Be?
  • When Should You Write It?
  • Who Needs A Business Plan?
  • Why Should You Write A Business Plan?

  • Determine Your Goals and Objectives
  • Outline Your Financing Needs
  • Plan What You'll Do With Your Plan
  • Don't Forget About Marketing

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