He explains that his definition of a business plan is "a formal document written to capture and communicate the planned direction and manoeuvres required for the business to accomplish its most important goal _ profitability". Balanko_Dickson adds that profit is no accident, and by writing and following your plan, you increase the chances of achieving profitability. Balanko_Dickson educates that developing a detailed plan will provide you with an opportunity to shape a powerful business development strategy, whether your goal is to: get financing to start; get financing to expand; be more organised and increase your odds of success; identify the value of your business and prepare a plan for selling; create a plan to buy a business; create a management succession plan to facilitate your retirement, etc.
Balanko_Dickson has clients throughout Canada, the United States, South Africa and the United Kingdom. According to the author, whether you want to start a business or grow one, buy or sell one, attract investors or obtain a loan, fine_tune your operation or restructure it, attempting to do it without a well_crafted plan is like going to the sea without a compass. He says this text arms you with the know_how and tools you need to write your own surefire business plan in a record time. Balanko_Dickson educates that to be successful in business, you need to research and write your plan; tailor a plan for virtually any type or size of business; master the 10 key components of a successful plan; understand all your financing options; and streamline the process using worksheets, sample forms and ready_to_use templates. This text is divided into five parts of 27 chapters. Part one is generically christened "Introduction" and contains two chapters. Chapter one borders on what a business plan is and why you need it. According to Balanko_Dickson, it is an instrument used to document the intent and plans of the owner regarding every aspect of the business. He adds that the document itself can be used to communicate plans, strategies and tactics to your managers, partners and investors. It is also used when you are applying for credit, educates the author, explaining that the plan contains both strategic and tactical objectives, and it can be either informal or formal. He adds that a plan has an equation structure of Goals + Research+ Strategy. Balanko_Dickson says a goal only reveals your intent or where you expect to end up, but a formal plan details the exact formula you feel you need to put together to attain your primary goals.