20 April 2015
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Do I Really Need a Business Plan?

If you are driving somewhere unfamiliar, how do you get there? Do you ask someone, do you look at a map, or might you use an app on your smartphone? Usually, through whatever means, you plan the route in some manner to arrive at your destination.

Is your business or concept’s future really any different? You might know where you want to be and some idea of how to do it, but until you clearly map it out you are prone to venture off course.

For businesses this very necessary map is a business plan.

In a nutshell, a business plan is a document describing a company’s future. Nike Air Max 90 Bloemen Dame A written description of what the business intends to do and how it will go about doing it. Nike Free Run 2 Goedkoop The document expresses the goals of the organization, the strategies utilized to accomplish these targets, the organizational structure, and the capital expenditures necessary to finance and run the venture.

A conventional business plan consists of seven sections:

  1. Executive Summary
  2. Company Description
  3. Market Analysis
  4. Organization and Management
  5. Goods/Services
  6. Marketing
  7. Financial Projections

 

Business plans serve many functions for those who write them as well of for those that read them. Nike Air Max 90 VT Dames Often, they are used by companies to convey their concept to potential investors.

These plans also help companies attract key employees, find new business, secure important suppliers, and ultimately understand how to better manage the overall business.

For those that are considering franchising, business plans are a major component and usually the first step in a franchise development program. Nike Air Max Tavas Goedkoop Whether you are considering franchising your business or not, you need a business plan.

For more information on the creation business plans read “An Introduction to Business Plans” on Entrepreneur.com.

 

“Being busy does not always mean real work. Air Max 2015 Zwart Rood Goedkoop The object of all work is production or accomplishment and to either of these ends there must be forethought, system, planning, intelligence, and honest purpose, as well as perspiration. Nike Lunar Schoenen Goedkoop Seeming to do is not doing.”——Thomas A.

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