Forums: Discussions for entrepreneurs and small business.

Many good points here.  I can honestly say that if I  had written a full business plan before I started 4 and a half years ago, I might have done a lot differently.  I have written so many business plans for clients, but of course, we never follow our own advice, do we?  Sometimes it's too easy to get bogged down in trying to move the business forward, that we forget to step back and do the critical planning.  I finally got it together, put together a business plan, and have now focused my business.  Guess what?  It's growing more than it ever has before! 

Laurie hits it on the head - most angels don't even need a business plan anymore - a kick butt pitch deck is much more relevant for closing investors BUT business plans are critical for the founder to understand and anticipate the challenges.  So a BP is a great strategic document for internal use and is no longer as relevant for engaging investors.

Any questions just ask.

Andrew

Absolutely, making a plan is a prime step for proceeding any business. Without describing and understanding your desired specific goal you shouldn't run your business.

Good effort I must say! no doubt this is really a strategic plan but it is not as easy to implement as it seems.Identifying strength and weaknesses is really hard sometimes. Willing to get more interesting posts from you.

That's a really great post. Business analytics is also a very important structure of any strategy and planning. It helps predict future scenarios and plan the course of action accordingly.

Business planning gives you a systematic way to start your business. It helps you to target perception and branding by the customer or client.

It is very important to make a business plan when you are about to build a business. It will not become successful if you rush.

Set specific objectives for managers. Good management requires setting specific objectives and then tracking and following up. I'm surprised how many existing businesses manage without a plan

http://www.biz2credit.com/get-a-loan/start-a-business/start-a-business.html

Very helpful tips! Business plan is basically a roadmap for success. The business plan helps to lay out the long-term milestones essential for the success of any kind of business. Researching on business plan help us to find the measure threat and strength of the industry and accordingly forecast our strategy.

Hello there!

Business planning is essential for without a solid foundation, the business will fail for sure.

Thus, doing research is essential and seeking expert advice when crafting your business plan.

Great thread by the way, and hope to join more discussions in the future.

Peter Vekselman
http://www.biggerpockets.com/users/peterv