Own a Company? You Need a Business Plan!

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If you want to start a business or have a current business, you must have a business plan in order to grow that business. According to the U.S. Small Business Administration (SBA), “All capital sources will want to see your plan for the start-up and growth of your business. If you don’t have a business plan, make writing one your first priority.”

On an ongoing basis, the business plan is what keeps your business going in the right direction and gives you a way to measure your progress. It quantifies and helps you measure the work that will be involved and functions as the roadmap to get you where you want to go. Also, if you are looking to go after any outside funding, from either banks or investors, you will need to show them a business plan to demonstrate your plan is well-thought-out and holds considerable potential for success.

Need some more convincing that you need a business plan? Here are the top 5 reasons to get a business plan together:

  1. You need a business plan if you are starting a business.

Understand that a business plan plays many roles in any organization new or old. It represents who you are today and who you will be tomorrow along with a detailed “road map” to ensure you and your business gets there safe.

  1. You need a business plan if you are looking to get a loan or apply for a grant.

There will be times in your business life where you need financial assistance to either stabilize or grow. You need to be able to show to possible lenders and Grant makers what you need the money for and how you intend on using it for the business. Many times the first impression will not be made by you but your business plan and application. A business plan is critical first step in this very difficult and frustrating process.

  1. You need a business plan if you intend on applying for SBA funding.

Although the actual funding comes from a bank, you will need to wow the government agency approving the project. Our business plans are focused on meeting the very specific needs of the SBA. Remember, you are not alone. We have professional advisers who can assist you through the planning process.

  1. You need a business plan to seek seed money or investors.

A business plan is a great tool for promoting an idea, an active project, or an active company looking to go to the next level financially. The difference between a good business plan and a great business plan is the style in which it is written. We write every plan to meet the startup, 2nd year, and 3-year growth goals.

  1. You need a business plan to effectively communicate with business partners, management team, and employees.

Within your business plan you will strategically plan your partnership arrangements and duties. It is important that everyone involved is on the same page.

Want to the key to insure your business’s success? Want to have a dedicated business plan advisor? Plus get a fully customized business plan that is specifically designed for your needs? IncForFree can help!

For more detailed information on how you can start your business plan, please contact an IncForFree representative at 1-877-462-6366, Monday thru Friday, 8 am – 5 pm PST.