Your Business Plan – a Game Plan to Success
Entrepreneurs often think that if they aren’t seeking outside financing for their businesses, they don’t need to bother to write up a business plan.
As it happens, writing up a business plan is every bit as important as a coach writing up his game plan for the Superbowl.
A lot can happen in the process of starting up and running a business. After the initial excitement wears off, you’ll get caught up in the day-to-day grind.
If you don’t have your small business’ journey mapped out on paper, you’ll eventually lose sight of your goals and how you intended to achieve them.
This can ultimately affect your company’s overall flexibility and forward momentum.
A Business Plan Puts You in Control of Your Future
Even if you’re not planning to acquire outside financing, a business plan written at the beginning of your venture will…
- Provide a detailed map of your business’ journey ~ from inception to expansion… and beyond.
- Provide you with a well-thought out, proactive contingency plan when you experience unexpected setbacks. Being proactive, rather than reactive, puts you in control of your future.
- Highlight a timeframe by which to reach specific milestones (i.e. when you expect to actually make a profit); when you plan to expand your workforce; add a new product or service; or increase your productivity.
- Define your ultimate goals.