| People plan more for a vacation than they do to start | | | | software there. A business plan is a document that is |
| a business. When you are looking to do your business | | | | about 40 to 50 pages long. It outlines your intentions |
| plan, remember that the most important part of a | | | | and plans for running your business. As your company |
| business plan is the homework you need to do before | | | | grows, it will serve as a guidebook and a reference |
| you write it. That consists of researching, analyzing, | | | | manual for your management team to see if you are |
| and evaluating the business opportunity you'd like to | | | | on track. |
| pursue. Doing your homework will unveil the potential | | | | You will be sharing your business plan with many |
| weaknesses and problem areas of your business idea. | | | | different audiences. Just hold back the confidential |
| You need to do this before you hit it full force. The | | | | information like financial, new technology or client data |
| worst possible event is for you to waste your time | | | | when you have to share it. The common parts that |
| and money on an idea that just won't fly. | | | | are less-sensitive you will share like personnel, industry |
| A business plan is not a guarantee of success, but you | | | | analyses, existing products, and services, and other |
| better believe it that not having one increases your | | | | company information that would normally appear in |
| chances of failing. Why? Because how can you get | | | | your marketing material. |
| where you want to go if you don't know where you're | | | | What a business plan does is it summarizes the goals |
| going? | | | | and purpose of your company and how you intend to |
| Everyone has heard that 20 percent of all new | | | | reach those goals. It has sections on what you intend |
| businesses will be around in 5 years. You definitely | | | | on selling, your industry, your competition, your place |
| don't want to be in the 80 percent that didn't make it. | | | | against the competition, marketing strategy, your staff, |
| Most businesses don't have a business plan yet they | | | | your business operations, equipment, and your financial |
| know that it's a good idea to have one. It's like knowing | | | | resources and projections. |
| eating vegetables is good for you but you don't do it. | | | | If you are looking to get financing, you will definitely |
| What a business plan does for you is it evaluates all | | | | need a sound business plan but here is a list of other |
| the particulars of starting a company. It will reveal how | | | | people who would need to see it: |
| much you can potentially make and on paper go | | | | -Management or board of directors to understand the |
| through worst and best case scenarios. It's crazy but | | | | future direction of the company. |
| most people plan more for a vacation than for a | | | | -Strategic partners or joint venture participants who |
| start-up opportunity! For example, it's a huge mistake | | | | are evaluating whether your overall direction is in |
| to quit your day job before you do a business plan to | | | | alignment with theirs. |
| really see how feasible your business idea is at making | | | | -Employees to understand the direction of the |
| you money. | | | | company and long-term opportunities for themselves. |
| It's not that hard to do a business plan and if you use | | | | Granted you should only show them a few sections |
| Business Plan software it can be pretty easy. You can | | | | and not sensitive information. |
| go to our "In Business University" page and purchase | | | | |