Need another reason to have a business plan? How about 10?
Rob Warlow has 10 great reasons to write your business plan before starting your business over at Business Loan Services. We especially like these three:
2. A Business Plan will help convince you and the bank of the feasibility and viability of your project. There’s nothing like being forced to consider all the facts to clarify the key issues and risks you’ll be facing. The process of writing a Business Plan makes you ask the questions you would not ordinarily ask.
9. A Business Plan will help you get funding. One of the main reasons banks turn down loan requests is a lack of information or a clear understanding of the business risks and how they will be tackled. If your Manager doesn’t have sufficient knowledge or understanding about your business then he won’t feel comfortable enough to support you.
10. By the time you have finished writing your Business Plan you will have a total understanding of your business, its strengths and weaknesses, the environment you are operating in, what could potentially go wrong, and what you can do to ensure your success. Doing your planning on the back of an envelope is not going to achieve this.
Sierra Investment Group, Inc. is a small business plan writing service and small business funding resource. They can be reached toll-free at (800) 323-6298 from 8 a.m. to 4 p.m., Monday through Friday, or at firstname.lastname@example.org