Getting a business off the ground is not an easy thing to
do. It requires a lot of hard work, a good plan, and a
little luck. Most people can handle the hard work part and
you'll either be lucky or not, it's the planning part that
most people have trouble with. Many people looking to go
into business for themselves have no idea what a business
plan is or even looks like let alone how to write one.
Luckily the internet provides a lot of resources to give
you a hand. But some circumstances may cause you to forgo
a business plan right away. In that case you may not have
one yet or it's been collecting dust for the last year or
more. Well it's time to remedy the situation.
Your business plan is a plan for the future. It's about
both where your company currently is and where you want it
to go. It will be used to convince others such as banks and
potential investors about the strengths of your company and
its ability to grow and thrive. Your business plan reflects
how much you know about your business and the industry
you're in as well as your competition and their products or
services offered. And as the old military saying goes no
plan survives contact with the enemy. Well neither will
your business plan. It will need to be regularly updated if
your going to keep it relevant.
That's one of the things that most people don't realize. As
time goes on the situation your company is in changes. Your
goals change, opportunities come and go, and the realities
of your market change. Maybe you land a big customer that
helps change your finances or an advertising campaign is
more successful than you thought it would be or it could
have been less successful. It's not to say that things will
change dramatically over days and weeks but they can over
months and years. Your business plan needs to reflect that
and stay up to date with the current situation and your
future plans.
Your business plan is a tool to be used to help you guide
your business. It is something that you can refer to
frequently to make sure you stay on track. It can be used
to communicate your vision of what you want your business
to be when you are dealing with others. Especially when you
are in the process of searching for money.
As a manager as well as the owner of the business it helps
you evaluate the progress you've made based on the goals
you'd set when you first wrote the plan. The plan is
constantly a work in progress that will grow as you gain
knowledge and experience in both running your business and
experiencing the industry you are in.
And finally it of course helps you plan out what you would
like to see happen with the business. Hopefully it will
help you identify potential problems to your growth. You
should be able to identify other possible markets and
customers you'd like to eventually pursue. And it should
help you put forth your financial goals and projections. If
nothing else it forces you to periodically take a hard
realistic look at your business so you are prepared for the
future. Having a well prepared business plan is never a
wrong move.
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Cash Miller is an experienced entrepreneur and speaker who
has spent over a decade as a small business owner. His
years of experience in small business cover such topics as
planning, management, marketing, human resources,
ecommerce, and taxation. If you are looking for more
information on this subject and others related to starting
and running a small business you can visit his website at
http://www.SmallBusinessDelivered.com
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