Creating A Business Plan
- May 18, 2017
- Posted by: kobeyconsulting
- Category: Business plans, Uncategorized
A business plan is a written description of your business’s future, a document that tells what you plan to do and how you plan to do it. If you jot down a paragraph on the back of an envelope describing your business strategy it is a great start to writing a business plan. The next step is to start to think about the future of your business over the next 3 – 5 years. You should anticipate growth during this time.
- Determine Objectives:
What is the ultimate goal of establishing your business? What is your market share? Are you willing to invest personal capital? How many employees do you anticipate? What are your expansion plans?
- How To Use Your Business Plan:
A business plan can be used to monitor your company’s progress, raise capital, entice employees and obtain credit.
- Assessing Your Company’s Potential:
Unfortunately, if you choose the wrong business, you are going nowhere. An accurately designed business plan will help guide us determine if our business is the right one for us.