A Business Plan is the most important tool a business owner can possess. It allows entrepreneurs the ability to strategically map out their strategy for achieving their business goals.
A Business Plan is like a flashlight that allows you to see in the dark. It is the key tool that establishes transparency amongst al!
People often believe that a business plan is for startups that need investments or for businesses that need a loan. However, while a Business Plan is especially useful for new companies, every company benefits from having them. Business Plans help prioritize your goals and develop a strategic course of action.
A Business Plan provides benefits beyond getting financing, dealing with vendors and suppliers, and familiarizing prospective employees with your business. It can be used as a modeling tool to look at a variety of scenarios, including opportunities, processes, strategies, solutions, costs, risks, and resources. It also serves as a roadmap for the operation of your business. This helps you chronologically organize business-critical events so you don't get ahead of yourself in business activities that have conditions precedent that must be satisfied.
A written Business Plan provides two important benefits with regards to managing your business.
First, Business Plans help you plan for the future. By this, we mean that it identifies the essential events that must occur and actions that must be taken to run and operate the business. Thus it serves as a timetable that provides concrete goals and deadlines.
Second, Business Plans identify and analyze the internal and external factors that might affect operations. Some of these factors are out of your control, including economic conditions, the weather, changes in technology, competitors, etc. It also includes issues unique to your business, such as staffing and hiring, management policies, estimated cash flow, etc. A written plan provides the mechanism to tie all these factors together and effectively manage them.
A written Business Plan also contains two important elements, the milestones of each which must be met in order for the business to stay on track:
Ultimately, a Business Plan is like a flashlight that allows you to see in the dark. It is the key tool that provides transparency amongst all stakeholders! Can you imagine your team and you having to work in the dark?!
A relatively small amount spent now on a Business Plan could save you a lot in the future.
Visionary People offers Business Plan Writing services for startup and established businesses seeking growth.
Depending on our clients' needs as well as if key data including research and analysis are provided, a business plan project typically takes a minimum of 4 to 6 weeks to complete. However, if key data including, but not limited to, market research is not readily available, necessary research and analysis will need to be conducted prior to writing an business plan.
Key chapters consist of:
Talk to us today about how we can support your growth and business objectives, and put you on a solid track to success and profit.
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