Most people think a business plan is for small companies who are trying to get funding, but a business plan is primarily just that…a plan. It’s a map for you…the owner or manager. It will help you to visualize where your company is headed in great detail and work out any kinks before they really become kinks.
Anyone who has ever actually created a business plan before knows that it’s actually a very enlightening experience. If you thought you knew your business…try explaining it in writing. Suddenly you’ll realize that your anticipated cash flow is much less — or maybe more — than you expected.
If you need a boost getting started, check out Carolyn’s article over at the Hundred Dollar Business about the essentials of a business plan. BPlans.com might also give you some inspiration (i.e. – templates).
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