There are two main purposes for writing a business plan. The first, and most
important, is to serve as a guide during the life of your business. It is the blueprint of
your business and will serve to keep you on the right track. To be of value, your plan
must be kept current. If you spend the time to plan ahead, many pitfalls will be
avoided and needless frustrations will be eliminated.
Second, the business plan is a requirement if you are planning to seek funding. It
will provide potential funding sources with detailed information on all aspects of the
company's past and current operations and provide future projections.
The text of a business plan must be concise and yet must contain as much
information as possible. This sounds like a contradiction, but you can solve this
dilemma by using the Key Word approach. Write the following key words on a card
and keep it in front of you while writing:
Answer all of the questions asked by the key words in one paragraph at the
beginning of each section of the business plan. In many cases it is helpful to have
someone outside the company assist in drafting, writing and reviewing your plan.
We have the experience to help you in this phase of your growth.
important, is to serve as a guide during the life of your business. It is the blueprint of
your business and will serve to keep you on the right track. To be of value, your plan
must be kept current. If you spend the time to plan ahead, many pitfalls will be
avoided and needless frustrations will be eliminated.
Second, the business plan is a requirement if you are planning to seek funding. It
will provide potential funding sources with detailed information on all aspects of the
company's past and current operations and provide future projections.
The text of a business plan must be concise and yet must contain as much
information as possible. This sounds like a contradiction, but you can solve this
dilemma by using the Key Word approach. Write the following key words on a card
and keep it in front of you while writing:
- Who
- What
- Where
- When
- Why
- How
- How Much
Answer all of the questions asked by the key words in one paragraph at the
beginning of each section of the business plan. In many cases it is helpful to have
someone outside the company assist in drafting, writing and reviewing your plan.
We have the experience to help you in this phase of your growth.
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