Careful business planning is critical to maximizing the potential of a business. More importantly a business plan greatly reduces stress levels which ultimately will cause personal and business ruin. A business plan allows for focus on execution of the activities which bring the most value to the business. The Small Business Administration (SBA) has an excellent resource that includes tools to help you write a business plan in addition to sample business plans.This service is free and can be found at the Small Business Administration Business Planner.
Business plans should be a work-in-progress. Even successful, growing businesses should maintain a current business plan. There are many resources available to assist in the development of a business plan; however, the principals must roll up their sleeves and do much of the heavy lifting. Professionals and software providers can help produce the business plan but it must be fully owned by the principals doing the execution of the plan. If the principals don’t own the plan, it will likely be a document that doesn’t get looked at after the bank financing comes through or the exercise is complete. If you need assistance with your business plan, Bizprofitpro can help. Call 860-263-0465 and start today.