A sound business plan will help build your business, weather market fluctuations, manage sudden growth, and prepare for changing business conditions. It will help you manage your business better. Here are three reasons why:

1) Objectivity. You'll be better able to identify areas of weakness and strength, pinpoint needs you might otherwise overlook, spot opportunities early, and begin planning to best achieve business goals.

The process of putting a business plan together, and the thought you put into writing it, forces you to take an objective, critical, unemotional look at your entire business project.

2) Effective Management. If completed properly, the finished product will help you manage your business and work effectively toward its success. But only if you implement what you've written, and measure results against projections. Don't put it in a drawer and forget it. Lack of planning is why over half of all new businesses fail in the first five years.

3) Communicate Your Vision - Your employees, investors, and lenders will understand your vision if you have a well written plan that provides the basis for your financing proposal. If your venture is marginal, the business plan will show you why, and help you avoid the high tuition of learning through business failure.

What goes in a business plan? According to the Small Business Administration (www.sba.gov), below is a comprehensive outline for a business plan:

Elements of a Business Plan 

1. Cover Sheet
2. Statement of Purpose
3. Table of Contents

I. The Business

A. Description of Business
B. Marketing
C. Competition
D. Operating Procedures

E. Personnel
F. Business Insurance

II. Financial Data
A. Loan Applications
B. Capital Equipment and Supply List

C. Balance Sheet
D. Breakeven Analysis
E. Pro-forma Income Projections (Profit & Loss Statements)
F. Three-year Summary
G. Detail by Month (First Year)

H. Detail by Quarters (Second and Third Years)
I.  Assumptions upon which projections were based
J. Pro-forma Cash Flow

III. Supporting Documents
A. Tax returns of principals for last three years Personal financial statement (all banks have these forms)
B. For franchised businesses, a copy of franchise contract and all supporting documents provided by the franchisor
C. Copy of proposed lease or purchase agreement for building space               
D. Copy of licenses and other legal documents
E. Copy of resumes of all principals

F. Copies of letters of intent from suppliers, etc.

If spending time developing your plan is not the highest and best use of your time, we are here to assist you.  We can help you draft a plan ranging from very simple to very complex based on your outcome objectives.