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Building the Plan _ There are numerous variations on how to write business plans, and, like all good quality business communications, they must be tailored to the individual company involved. The following elements, however, are fundamental to all basic business plans: Start with a Vision Statement. This is a brief outline of your goal in founding your business. This is the big_picture place, so if you are going to get dreamy_eyed and romantic anywhere in your business plan, this is the only place where you might get away with it. Your vision statement may be as brief as a single sentence, but is more likely going to be a short paragraph.

So, why is business planning so crucial? In a word, it provides "clarity". Investing time to develop a plan provides precise clarification of the company vision to both employees and customers. In addition, it provides a mechanism to gauge the results of the business and provides the foundation for future growth plans. In the long haul, it enhances the company valuation through fiscal responsibility, which provides the story of opportunity to any future investor or employee. In short, the benefits of planning allow the company to articulate a common vision to align resources and make an efficient use of investment dollars. A company that is perceived to be a "well_oiled machine" is attractive on many fronts _ both externally with investors and internally with employees through job satisfaction and increased tenure.

Source: Businesstown.com
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