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Business Planning

Who Needs a Business Plan

  • Anyone running a business needs a business plan to outline its strategic direction.  A business plan is the equivalent of a map and compass for an organization.  The business plan allows a business owner to set objectives, establish priorities, and provide for cash flow.

  • Anyone that is applying for a business loan requires a business plan.  Most banks require it, and even those that do not list it as a requirement expect a business plan.  

  • Anyone looking for a business investment needs such a plan.  While having a business plan will not guarantee the investment, the absence of one will guarantee the investment is not made.  Although the investment is based on other factors, a plan is needed to define and explain the business.

  • Anyone that works together with a partner needs a business plan to define their roles and places within the business.

  • A business plan is necessary to communicate with the management team.  The day-to-day business routine is distracting, problems come up, opportunities appear, and commitments should be followed and tracked. How do they know where they are in business without establishing where they started and where they intended to go? How can people commit to a plan they can’t see?

  • A business plan is important for tax purposes as it is needed to establish the value of a business

These are among the many different ways that WriteWrighters.com can help you plan for the future of your business.