What is a business plan?
A business plan is a written document detailing how a business (usually a new business) will achieve its goals. It describes the nature of your business, your sales and marketing strategy, and the financial background of your business. It also contains a projected income statement. Not sure how to develop a business plan? Hire a business plan expert to create one for you.
Why is a business plan important?
A business plan helps you get a clear view of your entire business, prioritize your goals, stay accountable and manage your cash flow. It also helps you develop strategic priorities for your business and make course corrections to prevent your business from failing. Hire a business plan consultant to help you understand how a business plan will help your business.
Will I share my business plan?
your business business plan does not need to be shared with many people, but in some cases you will need to share your business plan. For example, if your business is a startup that needs financial support, you may need to share your business plan with potential investors. Other parties you may need to share your business plan with are bankers, potential partners, board members and lawyers.