Developing a business plan for an established business serves several purposes: It can help convince investors or lenders to finance your business, persuade a business buyer to purchase your business, or entice partners or key employees to join your company.
Most importantly, it serves as a roadmap guiding the growth and continued success of your business throughout its next stages.
The strategic plan DOES NOT stipulate the day-to-day tasks and activities involved in running the organisation.
On the other hand the Operational Plan DOES present highly detailed information specifically to direct people to perform the day-to-day tasks required in the running the organisation.
Be sure you can not only present your business well in the written business plan, but in person.
Since investors and lenders will want to meet you face-to-face before writing a sizable check."All entrepreneurs and business owners should have a business plan.
And highlight the key assumptions which govern your financial projections.
If you are seeking funding, identify how much money you need to start and/or run your business, and the primary uses of these funds.
The last section in the instructions, “Refining Your Plan,” explains ways you may need to modify your plan for specific purposes, such as getting a bank loan, or for specific industries, such as retail. On Deck has business financing that is tailored for today’s small businesses, with fast access to capital, a streamlined and efficient application process, and service customers rave about.
Since 2007, On Deck has delivered billions of dollars to customers in more than 700 different industries across the United States, Canada, and Australia.