What is a Business Plan?
Dec 8th, 2007 by admin
There is a mountain of evidence to suggest that people who plan are more successful. Plans aren’t always followed, but people armed with a plan are usually better off. The same is true in the world of business. You need to have a plan to understand where you are today to get where you would like to be tomorrow.
Simply defined, a business plan is a document that articulates the purpose, vision and strategy of a company and outlines a series of operational instructions for achieving certain goals. Just as a traveler uses a map to successfully arrive at a destination, the process of creating and writing a “map” for your business helps you to understand the steps necessary to lead your company to ultimate success. It acts as a guide, detailing the what, why, where, how and when of your business. Without a plan, you leave far too many things to chance. Developing and writing an effective business plan, however, takes research, time and a lot of patience. Don’t try to do it all in one or two days or even a week. If you want your plan to achieve results, expect the development and writing process to take several months or more.
