Small Business Plan!
Having a small business plan in place is one way to help you outline your path toward building a successful business.
Many business owners overlook the importance of having a business plan because they have no plans to borrow money.
Small business plans
can be much more than a tool to obtain financing; it can be a guide to help you meet your business goals. And should you ever need a
small business loan,
without an effective business plan in place, it will be unlikely that you would be able to obtain any loan.
Think of a business plan as a road map, a way to guide and keep you on track as you work toward success. Preparing a thorough business plan is one way to help you find weak spots and fix them as you work on your plan. As you research your business plans and look at options to improve, you may discover areas that may offer greater potential than you even thought.
What is a business plan and what do you need to include in it? A business plan lays out the structure of your business. Your plan should include the following:
1) A complete detailed description of your product or service and how you plan to make it a success.
2) Identify your potential clients, who and where your buyers are, and know your competition and how can you compete.
3) Financial section, income, cash-flow statement, balance sheet, and break even analysis. Be sure you have a
good accounting software system
that can run these reports, or a good CPA.
If you find you need help writing a business plan, see
SBA, writing a business plan.
You can also visit your local Small Business Development Center and have a certified counselors assist you in writing a winning business plan. Their services are always free.
So grab a pen and start writing a winning business plan today.
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