Business For Sale & Franchise Search Engine  
   
My Account
Search Businesses For Sale
Location:

Category:

to refine your search results use advanced search  
Franchise Opportunities

Sell Your Business, Starting at $20.99 per month
Small Business Resources > Using your Business Plan

Using your Business Plan

Many people underestimate the importance of a business plan when it is the most important document that your business will ever produce. Your business plan stands as a set of business goals, the reasons as to why they are believed to be attainable and the plan for reaching these goals.

Your business plan is typically used to focus on financial goals but should also be used to demonstrate background information on your organisation. It should include everything that your business is about with information on how it will appeal to its target market and what makes it different from existing businesses that are within the same market. You should use your business plan to secure finance and as a way of allowing people to evaluate the perspectives of your company.

A good business plans should be used for a variety of purposes. Many entrepreneurs make the mistake of thinking that a business plan is only useful to help them raise money for their business. However, a well written business plan is in invaluable tool to help you run your business as well. By having a viable business plan, not only will you be able to see how your business is progressing, but you will also be able to impart your vision to others. They will be able to see how well you are running your business with respect to your initial goals and make an informed decision about any risks associated with your business.

As some of you may already know, what you put into your business plan is key to it being a well structured guide to your business. Some of things that should be included in your business are:
  • Overview of the business you want to start - many leaders/investors make judgments about your business based on this section alone.
  • Short description of business opportunity - who you are/ what you plan to sell/offer and to who and why
  • Marketing and sales strategy - why you think people will buy what you want to sell
  • Management team/personnel - your credentials and people you plan to recruit
  • Your operations - premises, production, facilities, management information systems
  • Financial forecast - translates everything you have said in previous sections into numbers
Your business plan is your main access to business finance. Without a well developed plan you won't gain the financial help you desire, especially if you are hoping to use the help of a business angel or a venture capitalist.

You should remember that your business plan is a living document; it is something that you will use throughout your business and due to this fact it will need updating on a regular basis. Over time, things will change for your business. In some cases, they will change outside of your direct control. Updating your business plan will allow you to plan appropriately to reflect the dynamic changes occurring outside of your direct control and that could have an impact on your business. You should always be prepared to update your business plan to ensure that you have sufficient contingency plans to deal with external influences that could affect the way you do business.

Remember there is no set content for your business plan, what you put in it should reflect your business.


About the Author
Helen Cox is the web master of ARCH Entrepreneurs, experts within all areas of Business Finance and Business Angels.











Related Resources
Small Business Articles
5.5 Ways to Improve Your Business… RIGHT NOW!
7 Reasons Why Small Businesses Fail - And What To Do About It
Advantages and Disadvantages of a Start-Up Business
Auto Franchises
Business Lawyer
Businesses for Sale by Owner
Coffee Franchises
Costs of Hiring a Website Designer
Different Web Design Techniques
Dispelling the Common Myths about SBA Financing
Do Home Based Businesses & Franchises Really Work?
Do What You Love or Love What You Do
Do You Need Bricks and Mortar Anymore?
Does a Small Business Really Need a Website?
Easy Ways to Cut Business Costs
Financing The Deal
Food Franchises
Franchise Information
Franchise Loans - Apply for a Loan to Buy a Franchise
Franchise Reviews
Free Advertising For My Business
Free Small Business Magazines
Getting Into Business: Don't Start It! Buy It!!
Helpful Tips for Your Small Business Website
House Cleaning Franchises
How Do I Obtain Capital To Invest In My Business Start Up
How Factoring Receivables Can Help Your Business Grow
How to Apply for a Small Business Loan
How to Find a Small Business Web Design Company
How to Form an LLC
How to Incorporate Your Business
How to Sell a Business Online
Incorporate A Business Online
Making Sure That Your Coffee Shop Will Be A Success
Market Your Business on the Web
Marketing Tools for the Small Business
Opportunities To Work From Home Are They Right For Me?
Planning Your Small Business Website
Position Your Business to Outshine the Competition
Protect The Merger Or Sale Value Of Your Business: What You Can Learn From The DaimlerChrysler Deba
Purchase Equipment to Save on Taxes
Run Your Business Like You Have To Sell It
Sell a Business
Sell a Franchise
Should I Franchise My Business?
Should I Incorporate My Business
Signs Your Small Business Needs Debt Restructuring
Small Business Debt Relief
Small Business Health Insurance Options
Small Business Idea - How Can Problems Make Great Ideas For Businesses?
Small Business Loan Calculator
Small Business Loans for Small Business Owners
Small Business Payroll Solutions
Small Business Phone Systems
Small Business Resources
Small Business Web Design
Small Business Web Design Companies
Small Businesses - Survival of the Quickest
Starting a New Business - Is There a Big Enough Demand?
Starting a Small Business in Less than 24 Hours
StartupNation's 5 Startup No-No's
Steps to Starting Your Own Business
The Advantages of Unsecured Business Loans when Buying a Business
The Art of Business is the Art of Relationships
Turn Personal Expenses Into Business Deductions
Twelve Stress-Busting Tips for Small Business Owners
Unleash Your Marketing Creativity and Increase Sales
Using your Business Plan
What is a Balloon Payment?
What is an Angel Investor?
What is an LLC?
What is an Unsecured Small Business Loan?
What is an Unsecured Small Business Loan?
What is an Unsecured Small Business Loan?
Why Buy an Existing Business?
Work From Home Scams
Working with Web Designers for Your Small Business
Your Web Design Contract for Your Small Business
©2017 BusinessMart.com.
Broker Membership | Terms Of Use | Financial Disclaimer | Privacy Policy | Cookie Policy | Resources | Franchise Opportunities | Website Traffic Ranking | Sitemap | Careers | Contact Us