Business Plan - What is it and why do you need one?
A properly prepared Business Plan will outline a company’s goals and the strategies to achieve success. It will set forth internal and external processes that the business will use in order to meet its financial projections and customer expectations.
Why is it important to create a Business Plan?
- Assists in monitoring finances
- Provides an opportunity for potential partnerships and investments
- Gives you a broader appeal with high level talent within your industry
- Provides a foundation for future reference when making business decisions
- Helps to create business growth within and possibly beyond your industry
Tips for creating a Business Plan
- Determine your reasoning BEFORE creating a Business Plan
- Develop a timeline for completing goals outlined in your plan
- Make the goals are both reasonable and attainable
- Incorporate visuals to support written statements
- Adjust your business plan as you begin using it
The Steps to Creating a Business Plan
- Start with the Executive Summary
- Include your Company Description
- Showcase Market Analysis
- Outline the Organization and Management
- Describe your Services or Products
- Present your Marketing and Sales Goals
- Request Funding
- Reveal the Financial Projections
- End with the Appendix
You may be feeling a bit overwhelmed, and this is normal. Creating a business plan can be tricky, especially if you have never done it before. At OneSource Business Solutions, LLC we are the expertly trained professionals that you will need in formulating and creating your own Business Plan. After all, we do this every day and have helped many business owners with their needs.
If you are in the beginning stages of making the decision to sell your business you will want to download our 13 page PDF. The guide can help you think through the steps and stages of the process.