Your business isn’t a cookie cutter business – so why should your business plan?   Many small business owners consider a Business Plan a luxury that they cannot afford - either in dollars or in time. 

It is the ultimate undoing of most businesses - large or small!!!

What is, after all, a Business Plan?

It answers some basic questions and provides a vision of the enterprise. A Business Plan does not have to be a formalized document to be effective. A real Business Plan (one that provides value to the business) is the architectural drawings of the company. It lays out, in specific terms, what the goals for the business are and how those goals will be achieved.

A Business Plan must be a living, breathing document. While it provides a structure for ongoing activities, it must be flexible to adjust to the evolutions which exist in the day to day operations of businesses.

 The Business Plan must simply and effectively articulate why the owner(s) have decided to enter into business.

Who are you in business for?

The Business Plan must identify the target market and explain how the product(s) will be valuable for that market.

What are you in business for, anyway?

Profit, right? An amazingly simple statement which is absent from most business plans. By not stating the obvious, and building an economic plan around being profitable leads to loss and failure.

The Business Plan must clearly examine the financial incentives for the business. It must also have a stable, conservative (low assumptions) financial model.

Are there roadblocks to success?

Acknowledging the potential weaknesses in the business is often the most important exercise in planning for business. It allows the company to evaluate the competition and the challenges which it faces. More importantly, however, this process works to reinforce the strengths of the business.

Where will the business be in 12 months, 18 months and 5 years?

The answer to this question is, in simple terms, the growth plan.  It’s a magical game of "what if." By clarifying the hopes, dreams and aspirations of the company today allows for the growth tomorrow.

The answer to these basic questions, in a formal or an informal manner provides the owner(s), investor(s), potential investor(s) with a direct, plausible and specific outline for a business.

What Every Business Plan Should Have:

1. Introduction / Executive Summary - summarize the entire project start to finish.
2. Needs Analysis / Mission - provide empirical evidence that justifies the business. This will include some initial financial information and will logically lead into the point / mission of the organization.
3. Particular strengths / weaknesses - discussion and financial display of what will and won't work about the business and the strategy for long term success.
4. Detailed financials - providing all revenue and expense information with an explanation of the assumptions which went into them. (i.e. 25% of salary was used for employee benefits, etc.). Once the first year is mapped out - spread out over 5 years with another series of assumptions. This must also include industry standards. If this area is lacking, the entire plan will suffer!
5. Conclusion. Virtually the same as I.  The conclusion summarizes the business, why it's needed, who and what make it strong, what obstacles will be overcome, and the financial benefit that such a business will provide.The answer