| Writing a 5 year business plan is something that most | | | | actually materialize the way they were intended to. |
| people and companies don't want to do. The reason is, | | | | The point of a business plan is to give the company |
| it isn't something that comes that easy for most | | | | direction. It forces the management to look ahead and |
| people. The idea of the business plan is to get | | | | plan out not only what they want the business to |
| everyone in the room and/or business to agree on | | | | become, but how they are going to get there. This |
| what should be done and plan out each step along the | | | | group discussion will ensure that every member of |
| way. Many businesses don't necessarily run that way. | | | | your staff is on the same page and excited about |
| They enjoy the freedom of being able to make | | | | where the company is going. |
| decisions on the fly or steer the company the way | | | | The business plan will also show those outside of the |
| that feels best at the time. Despite this, having a | | | | company where you intend to take the business. This |
| business plan is an essential part of success in the | | | | is incredibly important when you are dealing with |
| world of business. | | | | stockholders and other investors. These people have |
| The business plan helps get everyone both at a | | | | money in your company and would like to know what |
| managerial and supervisor level to agree on a direction | | | | you are doing with it. Without a business plan, these |
| for the company. Many times this direction will stem | | | | people may be uneasy about the money that have |
| directly from the mission statement of the company. | | | | put into the company. |
| Both of these features are important to a business | | | | The final thing that they business plan will offer your |
| because they give the business a foundation, a place | | | | company is a benchmark. This plan, because it is laid |
| to go back to when conflict or issues arise. When this | | | | out step-by-step, will show the progress your |
| happens they simply turn to the mission statement and | | | | company is making. When you step back and look at |
| business plan to see if the answer is there. It is similar | | | | your company without a business plan, you may see |
| to a constitution. Of course there are other laws, but | | | | nothing wrong, or nothing particularly excellent. But |
| when push comes to shove, the business will follow | | | | when you put together a business plan, you will have |
| the mission statement above all else. | | | | set goals for yourself and your company and it will |
| When you begin to work on your business plan you | | | | allow you to measure your success against your |
| will see how challenging it can be to create a step by | | | | predicted or goal successes. This will allow you to |
| step walk through the next five years. The important | | | | make better decisions about what to do next and |
| thing to note here is, writing a business plan doesn't | | | | because you will continually have business plans, you |
| mean that everything is set in stone and is | | | | will be able to look back and see what did and didn't |
| unchangeable. In fact, most business plans will never | | | | work out, rather than just working one day at a time. |