You gain an advantage by building your business on paper first. A business plan's value goes beyond its ability to help secure a loan package for you. It's a working document that helps you prepare for opportunities as well as difficulties.
The body of a business plan can be divided into four sections: the description of your business, the marketing plan, the financial management plan and the management plan. Addenda to the plan should include an executive summary, supporting documents and financial projections.
Writing a plan forces you to think through every aspect of your venture. The process will convince you to proceed with your idea or look for a new one. Glean some inspiration and guidelines from resources below.
- Business Plans Made Easy by Mark Henricks
- Creating a Successful Business Plan, an Entrepreneur magazine Start-Up Guide.
- Download or print the SBA's free business plan guide, The Business Plan Road Map to Success.
- Check out our Creating Your Business Plan sectionfor articles and resources to help you write your business plan.