Every company should have a business plan whether they are trying to raise money or not. Simply stated, a business plan is essential for growing or expanding your idea.
It is surprising that many companies are formed without prior serious thought and planning. Having a blueprint or business plan eliminates guesswork and wasted time. We can help you write your business plan either by writing and completing it for you or guiding you through the process.
Some of the typical components to include in your business plan are:
The first step every company owner needs to do is layout the goal and mission of a business. Of course, everyone wants to achieve his or her goals within the first year. But since, more often than not, a business needs a few years to grow and become viable, being specific about the milestones that you can realistically achieve will in the long run improve your company's success.
An important component of your business plan, financial projections should be calculated to help you understand your business and if your company is running on target. We can design the models or evaluate your projections to make sure they are correct. Even if you do not plan to raise money, it is essential to quantify your financial projections. They help you to be more efficient and are also a good measure of how your company is progressing. Since we have the operational expertise of running companies, we know what is realistic and what is not. We are equipped with more than just theories - we have the practical experience.
Identifying and qualifying your risk evaluation will aid you in knowing what are your potential pitfalls and roadblocks. You will avoid future problems by being proactive and evaluating your risks and taking action before these obstacles become insurmountable. We can help pinpoint and guide you past these impediments.
Some other examples that should be in your business plan are Breakeven Evaluation, Competitive Positioning, Opportunities, and Business Strategies. Although we do not advocate starting a company without a business plan, the least you should do is think of all of these components and points before venturing into something new.