Let's start with some FAQ's about Business Plans...
What is a business plan?
A business plan is a written document that defines your business, identified your goals and plans for reaching those goals. It is a roadmap to success. It is a working document that should be reviewed and revised periodically!
How long should your business plan be?
It depends!... on the type of business, the industry and the purpose of your plan. Are you writing the plan for internal or external use? Are you going to show this to your business partners or your employees? Are you going to provide this to a bank or potential investors? The purpose of your business plan determines how detailed, informational and technical each section of your plan should be.
Why should you write a business plan?
It is a common misconception that business plans are only necessary if you are trying to borrow money; however a business plan is a written description of your business and YOUR BUSINESS' FUTURE! So why write one? To help prepare, grow and sustain your business in an ever changing world.
Who needs a business plan?
Everyone! Even if your business "plan" is not to run a business or open a new business, you can still create a business plan for yourself. Do you want a new position within your company? What do you need to do to get there? Do you want to increase sales? Where do you want your sales to be?
When should you write a business plan?
In a perfect world, business plans would be written before a business was started and updated on a regular basis. However, it is never too late to write a business plan! If you are working for a company, own a company or want to own your own company and don't have a business plan... the answer is now!
Get started today!Download the "My 5 Step BMS Business Plan"
This is a simplified outline of topics to consider and questions you must answer to best define and distinguish your business from competitors!