Business Plans

Written by Linda Alexander
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Business plans are integral to running a business. They act as a roadmap to give you guidance and direction toward reaching your company's goals and objectives. The most successful companies treat their business plans like a living document that constantly grows and changes. You say you don't have a business plan?

Benefits of Business Plans

Without business plans, your business is probably not being run as well as it could be. Where do you want to be in a year or in five years? If you want to get there, you had better start planning. The way to do this is with a business plan.

Even if you don't consider yourself a master at writing plans, you can write a simple plan that only spans a few pages. It is better than nothing. And if you ever try to get funding for your company, banks and venture capitalists will want to see a solid business plan. It shows them that you are serious about growing your business, that you are a professional, and that your company is worth investing their money in.

If you need help, there are professionals who write business plans for a living. Management consulting firms, and the small business administration are two places you can go to for help. If you have a mentor, coach, or friend who is experienced with this type of thing, you might also seek their guidance. Without a plan, you are just drifting aimlessly.

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