| Whether you have just set sail in your business, or are | | | | chart your path to your desired destination. The |
| changing course mid-voyage, a solid, highly detailed | | | | process of developing your business plan will require |
| business plan will get you where you want to go. As a | | | | you to focus on exactly what you are trying to |
| ships captain relies on the integrity of the ship, and a | | | | achieve, pinpoint where you want to be going, and |
| good map and compass, business owners rely upon a | | | | figure out exactly how you plan to get there. A solid |
| good business plan to navigate unfamiliar territory and | | | | business strategy will help you avoid rough waters, |
| reach their chosen destinations in one piece, and via | | | | stay the course, and make level-headed decisions |
| the most direct route possible. | | | | when you discover new and exciting opportunities to |
| A business plan is the framework of your business | | | | pursue. Have you embarked on a journey, only to |
| (your ship). The success of your business is ultimately | | | | discover half-way that it is not what you expected |
| determined by how detailed, well built, efficient and | | | | when you set out? A well defined business plan gives |
| leak-proof your vessel is. If you are facing setbacks in | | | | you a standard by which you can measure your |
| spite of having a business plan, make a list of all the | | | | progress; it will either keep you self-assured in your |
| functions of your business, and examine them one by | | | | chosen direction, or provide a clear indication that you |
| one to see where the holes are. Do you have a crew | | | | need to change tack. |
| of individuals on board who know their functions and | | | | Finally, a well-designed and well-executed business plan |
| perform them well, or do you (the captain) also find | | | | is your calling card. It shows third parties - potential |
| yourself swabbing the deck? | | | | investors, loan officers, or buyers - that your business |
| Do you know how to hoist your sails to catch the best | | | | concept is solid and successful, and worthy of their |
| breeze to send you on your way? If your business is | | | | interest and investment in you, when you go for that |
| sagging due to lack of income in one area, can you | | | | loan to expand, or seek to sell your company. |
| figure out which way the wind is blowing and make | | | | Many entrepreneurs jump into the day-to-day of |
| adjustments (like adding new packages, developing a | | | | starting a business before really taking the time to map |
| niche, marketing e-books) to keep you moving | | | | out a detailed business plan, and find they are |
| forward? Your business plan should have all these | | | | floundering later when unforeseen problems, or |
| potential problems covered, so your business can | | | | opportunities arise. Investing the time and effort it takes |
| move along at full sail. | | | | to create a plan before setting sail will ensure a |
| Your business plan is also the map upon which you will | | | | rewarding journey in the long run. |