What is a business plan?
A business plan is a formal written document containing the goals of a business, the methods for attaining those goals, and the timeframe for the achievement of the goals. It also describes the nature of the business, background information on the organization, the organization’s financial projections, and the strategies it intends to implement to achieve the stated targets.
The purpose of this plan is to help articulate a strategy for starting or changing your business. It defines how you will achieve your most important business objectives. A good Business Plan should help you to sleep at night if you are a business owner.
DO I need?
Our team will help your team and investors understand your vision for the company. Your plan will outline your goals and can help your team make decisions or take action on your behalf. Share your business plan with employees to align your full staff toward a collective goal or objective for the company.
The Benefits of Having a Business Plan:
- Increased Clarity
A plan can bring clarity to the decision-making process regarding key aspects of the business such as capital investments, leases, resourcing, etc. You can’t do everything. A good Business Plan will help you identify business critical priorities and milestones to focus on.
- Creation of a Marketing Roadmap
Marketing is an important aspect of a business plan. It helps to define your target market(s), target customers and how you will promote and place your product / service to these markets / customers.
- Support for Funding
Whether you’re seeking credit from a bank or capital from investors, a plan that answers questions about profitability and revenue generation is often required.
- Helps to Secure Talent
For a business to succeed, attracting talented workers and partners is vital. Part of a plan’s purpose is to help bring in the right talent, at the right time. Staff want to understand the vision, how the business will achieve its goals, and how they can contribute to this in their own roles.
- Provides Structure
A plan provides structure and defines business management objectives. It becomes a reference tool to keep the business on track with sales targets and operational milestones. When used properly and consulted regularly, it can help measure and manage your priority areas of focus.
Booboo accounting service INC. with years of experience in business planning, knows what it takes to create a solid plan that will help you get your business off the ground. Our writers are all experts in their fields, and they will work closely with you throughout the process of creating a customized plan that fits your needs.