The Importance of a Business Plan _ The success of a business starts with a business plan. The plan defines your business as to what it is and how you plan to achieve the goals of the business. It presents a clear picture of your business in terms of goals and objectives. The plan reflects how you plan to operate your business. How you plan to market your product or services. It provides a financial picture of the company. If you are looking for money to fund your business, you're going to need a plan for your business. When you go to borrow money, lenders and investors are going to want to see written documentation in a business plan of your financial situation. Why do they want to see this information? Lenders and investors want to see this information because they are the ones taking the risk in lending your business money. Once you have a plan in place, it's important that you follow it. If you're achieving your goals you should stick with the plan. If you are not achieving your goals then you will have go back, analyze your plan to find out what is working, what is not working and why it is not working.
In addition to these fundamentals, you may also include a discussion of your marketing plan and plans for future expansion. There are numerous government websites with valuable information pertaining to small businesses _ make use of that information in your business plan. There may be sites that pertain to your specific business, and the Small Business Administration has a volume of valuable information pertaining to all start_up businesses. Additionally, depending upon the nature of your company, you may include additional sections as they pertain to the individual situation. Additional sections may include Products, Services, Distribution, Suppliers, Customers, or any variety of specialized sections that apply to your situation.