Develop a Plan Now So You Can Count On Profits Later
A good business plan provides the small business owner with a plan of action to build a successful small business. The business plan examines the environment in which a business operates, describes how the business will function and anticipates potential problems and opportunities. The plan suggest solutions to problems and responses to opportunities.
It’s worth your time to write a business plan. Planning helps you guarantee that you have defined and described business objectives such as sales, expenses and the goals of your business. The more accurate your plan, the better able you will be to follow this business plan as a true operating guide for business. The business plan is the definitive document that showcases your clear thinking about the business. If you plan to seek financing, a copy of your business plan will generally be required as a way to substantiate that you have a valid business idea and realistic plans for business success.
Both from a financing and operational prospective, the business plan should address future contingencies. You should answer the following questions. Who are your competitors in your market? What are the new trends developing in your field and how will you accommodate them? How will you make the business grow? Putting your ideas in writing forces you to think realistically about what the business can achieve.
A free workbook, ”How to Really Start Your Own Business” and FREE confidential counseling is available from SCORE.
Your local SCORE Chapter is located in the Quincy Area Chamber of Commerce Offices
Call (217) 222-8093