By On Oct 30, 2018 Business Plan
Business plans can help perform a number of tasks for those who write and read them. They are used by investment-seeking entrepreneurs to convey their vision to potential investors. They may also be used by firms that are trying to attract key employees, prospect for new business, deal with suppliers or simply to understand how to manage their companies better.
Most books on business planning seem to be aimed at these startup business owners. Theres one good reason for that: As the least experienced of the potential plan writers, they are probably most appreciative of the guidance. However, it is a mistake to think that only cash-starved startups need business plans. Business owners find plans useful at all stages of their companies existence, whether they are seeking financing or trying to figure out how to invest a surplus.
The purpose of your plan also determines its length. If you want to use your plan to seek millions of dollars in seed capital to start a risky venture, you may have to do a lot of explaining and convincing. If you are just going to use your plan for internal purposes to manage an ongoing business, a much more abbreviated version should be fine.
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