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Before we get into the how-to, let’s take a deeper look into what writing a plan will do for you.The first clue comes right in the description of what a business plan is: a roadmap for your business that outlines your goals and spells out how you aim to achieve them.
It’s a great way to lay out your concept or have basic information to show to potential partners or investors. A miniplan isn’t a substitute for a longer, full-length document.
If it’s for your own personal use, this might suffice.
No need to print it out on nice stock and put it in a beautiful binder.
You don’t even have to print it at all, if it’s on your computer.
A business plan will serve to get everyone on the same page as you move forward.
7) Accountability – Business plans have a fairly standardized set of components.
3) Commitment – Taking a look at expense projections, sales and revenue forecasts, and all the other dollars and cents aspects of your business will help keep you on track as you move forward, and serve as a built-in warning system if you’re not where you’re supposed to be.
4) Exploration – It’s easy to get so focused on the nuts and bolts of your business that you lose sight of the bigger picture.
A business plan will help ground you, but also figure out where you fit within the greater whole, things you may not have taken the time to consider.
5) Objectivity – Talking to friends and family about your great idea can make it seem like a can’t-miss proposition.