A written business plan is an essential tool for every business. Don't make the mistake of thinking your organization is too small to have a business plan. The fact is that many small businesses fail because their owners have not taken the time or the effort to plan what they want their companies to achieve. If you don’t know where you are going, you won’t know if you are getting there.  Your business plan should answer the following types of questions:

1. How well do your products and services meet the needs of your current and anticipated markets?

2. What is your competition doing?

3. What are your future sales goals?

4. Do your company’s existing facilities, equipment, and location meet existing needs?

5. Will you have to invest in new facilities and/or change your location to fulfill future targets?

6. Does your workforce have the talent, skills, and desires to grow along with your business?

7. Are your compensation policies in line with others in the industry?

8. Will you need more employees to meet anticipated demands?

9. Does your business have enough income and cash flow to pay for needed inventories, payroll, supplies, and equipment and to provide you with a good standard of living?

10. Will you need to borrow or seek outside investors to finance expansion? If so, will those funds be available? Many money sources will want to see a business plan to justify any decision to lend or invest.

Your business plan will show you how to figure out where you are and how to get where you want to be. However, it is not a static document that, once prepared, you file away. On the contrary, you will subsequently find its best value as it helps you manage your growing business.

We have considerable experience in helping business owners create and manage their business plans. There are also a number of pages on our web site covering different aspects of business planning. Click on Business and then page down to the "Strategy and Planning" heading for a list of links.

Related Information:
        Consulting Services
        Every Business Needs a Written Plan
        Overview of the Strategic Planning Process
        Setup new corporations
        Small Business Services
        Sources of Business Financing
        The New Business & Professional Advisors
        Tips for Starting a New Business

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