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A business plan can be a communications tool for investors, suppliers, employees
and others interested in understanding the operations and goals of your business.
If you don't plan for the success of your business ... you will fail. It is that simple!
Planning Can Be Difficult:
Although planning is critical to your success, it is often overlooked in favor of
intuition or "gut feeling." There are other obstacles that hinder planning, including:
Lack of know-how - it is sometimes difficult to know how to plan and what to
plan for.
Fear of the unknown - it is hard enough dealing with the problems of today
without worrying about what's going to happen in the future.
Inexactness - the best set plans have a funny way of not working out exactly the
way they are supposed to.
These obstacles are very real. However, they must be overcome if you are to be
successful. While we may find it difficult to face the future, heading into it without any
direction is much worse.
The Business Plan:
The business plan is a written document that clearly defines the goals of a business
and outlines the methods for achieving them. A business plan describes what a business
does, how it will be done, who has to do it, where it will be done, why it's being done
and when it has to be completed.
Dreams and ambitions are great and important. But what really counts in the
business world are results. Therefore, it is important to establish realistic goals with a
sound methodology for achieving them. A business plan:
Is the management and financial "blueprint" for a business start-up and profitable
operation.
Is written by the business owner with outside help as needed.
Explains how the business will function and depicts its operational characteristics.
Details how the business will be capitalized and managed.
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