One of the most often-overlooked aspects of entrepreneurship involves writing business plans. For many people, business plans are not all that important, or are seen as time-consuming projects that get in the way of other things. There are actually quite a few good reasons why you shouldn’t skip writing a business plan if you want your new start-up to be successful.
You need financing or grants
Few people have the cash resources needed to start a new business. If you’re planning to borrow money, showing a business plan to your lender could be required in order to gain approval for a loan. Likewise, many grants are also contingent upon having a business plan in place.
You need financing or grants
Few people have the cash resources needed to start a new business. If you’re planning to borrow money, showing a business plan to your lender could be required in order to gain approval for a loan. Likewise, many grants are also contingent upon having a business plan in place.
Ensures all your bases are covered
When planning your business, it can be so easy to get wrapped up in things that require your immediate attention and you forget to think about the long-term aspects. Writing a business plan forces you to think about everything from marketing to management, so you can ensure that you have everything covered.
Provides you with written goals
You are much more likely to achieve your goals if they are written down. After constructing your business plan, you will want to take it out from time to time in order to remind you what your goals are and how you plan to reach them. Each time you do, you are likely to have a renewed focus, and will want to strive harder to meet them. You may even find that you have surpassed your goals and now need to set new ones.
Helps you stay focused
It can be overwhelming to keep up with everything that’s required of a business owner. Your company’s plan will help you remain focused and on task, because you can refer to it whenever you find yourself struggling with certain business decisions.
Despite these benefits, many small business owners fail to write a business plan, in part because they don’t know where to start. We can help you write and format your business plan, suggest additional information to include, and we can edit and proofread what you’ve already written. To get help with or find out more about writing a business plan, please contact us at info@simplicityus.com or call 1-844 MY ACCTG.
Simplicity Consulting is a professional accounting and administrative services firm run by a talented team of professionals. With a combined experience level of over 40 years, we provide high-quality, innovative services to small and medium sized businesses.
When planning your business, it can be so easy to get wrapped up in things that require your immediate attention and you forget to think about the long-term aspects. Writing a business plan forces you to think about everything from marketing to management, so you can ensure that you have everything covered.
Provides you with written goals
You are much more likely to achieve your goals if they are written down. After constructing your business plan, you will want to take it out from time to time in order to remind you what your goals are and how you plan to reach them. Each time you do, you are likely to have a renewed focus, and will want to strive harder to meet them. You may even find that you have surpassed your goals and now need to set new ones.
Helps you stay focused
It can be overwhelming to keep up with everything that’s required of a business owner. Your company’s plan will help you remain focused and on task, because you can refer to it whenever you find yourself struggling with certain business decisions.
Despite these benefits, many small business owners fail to write a business plan, in part because they don’t know where to start. We can help you write and format your business plan, suggest additional information to include, and we can edit and proofread what you’ve already written. To get help with or find out more about writing a business plan, please contact us at info@simplicityus.com or call 1-844 MY ACCTG.
Simplicity Consulting is a professional accounting and administrative services firm run by a talented team of professionals. With a combined experience level of over 40 years, we provide high-quality, innovative services to small and medium sized businesses.
RSS Feed