Do You Need a Business Plan?
Charlene M. Ives, CPA, PC
Here are a few tips to help you decide if you need a formal business plan:You need a business plan if:
- You need to attract investors
- You need to get financing from the Small Business Association, or other sources that require a business plan
- Having formal business plan will help you to formulate and reach your goals
If none of the above applies to you, why not keep your "Business Planning" simple, and use an informal business plan? Here's a sample informal business plan:
- What are your services or products?
- Who will your customers be?
- How and where will you work?
- How much will you charge?
- What is your budget? (check the Budget Spreadsheet contained in this website)
- How many hours per week will you work, and how much do you need to make per year?
- (Consider taking "Building a Principle-Based Business" program, contained in this website)
If you can answer these above questions, you have a good start on the planning you need for a business. If you need or want a full business plan, check out these sites for information and/or templates:
http://www.bplans.com Home of business Plan Pro Software.
http://www.bizplus.com BizPlus Small Business Solutions.
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