Why Develop A Business Plan?
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Why Develop A Business Plan?
You have decided to start a business and are now poised to develop one. Why would you set out to complete such a project?
By: Dan Boudreau
You have decided to start a business and are now poised to develop one. Why would you set out to complete such a project?
By: Dan Boudreau
There are many sound reasons to begin your process by creating a business plan.
· So you know where you’re going.
· To have a roadmap or blueprint for your business.
· To have a document to look back on in order to measure your progress.
· To protect your investment and equity from loss.
· To find out if your idea will work.
· To build confidence about your business.
· To get a loan from a lending agency.
· To access funding from government.
· To reveal and solve problems before starting the business.
· To learn more about / become the expert on your business.
· To create a document to use to communicate with others: family, partners, investors, and bankers.
· For your own peace of mind.
Do you have other reasons for developing your business plan?
Perhaps it would be more appropriate to ask: “Why would you not develop a business plan?”
· So you know where you’re going.
· To have a roadmap or blueprint for your business.
· To have a document to look back on in order to measure your progress.
· To protect your investment and equity from loss.
· To find out if your idea will work.
· To build confidence about your business.
· To get a loan from a lending agency.
· To access funding from government.
· To reveal and solve problems before starting the business.
· To learn more about / become the expert on your business.
· To create a document to use to communicate with others: family, partners, investors, and bankers.
· For your own peace of mind.
Do you have other reasons for developing your business plan?
Perhaps it would be more appropriate to ask: “Why would you not develop a business plan?”
Dan Boudreau is author of Business Plan or BUST! and hosts the RiskBuster Blog at www.riskbuster.com/blog.
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