DEVELOPING A BUSINESS PLAN
Resource: Small Business Development Center
A business plan helps you design and lay out your business and gives you a map to follow in growing your business.
Business planning is the process through which you research, learn about, analyze, and understand your business and
What Is the Purpose of a Business Plan?
1. Reduces risk by forcing evaluation of:
Market demand for product or service
Strategies (business structure, marketing and distribution)
2. Business planning is a means to managing change.
When Is a Business Plan not Necessary?
When you can afford to fail….
Benefits of Writing a Business Plan:
Exposes risk and opportunities.
Increases knowledge of customer needs and competitor strengths and weaknesses.
Places focus on a marketing position (competitive advantage).
Provides bankers (or other investors) with a professional and acceptable format for presenting evidence
supporting a bus