Now you can learn about the key components of business plans in this free on-demand course from SCORE and write your plan for success.
The importance of planning should never be overlooked.
For a business to be successful and profitable, the owners and the managing directors must have a clear understanding of the firm’s customers, strengths and competition.
They must also have the foresight to plan for future expansion. Whether yours is a new business or an existing business in the process of expanding, money is often an issue.
Taking time to create an extensive plan provides you with insight into your business. This document can serve as a powerful financing proposal.
This course will take you through the step-by-step process of developing a business plan.
A plan is very specific to each particular business. However, while each business needs a unique plan, the basic elements are the same in all plans.
To complete an effective business plan, you must dedicate time to complete the plan. It requires you to be objective, critical and focused.
The finished project is an operating tool to help manage your business and enable you to achieve greater success.
The plan also serves as an effective communication tool for financing proposals.
After this module, you should be able to:
- Describe the importance of a business plan
- Identify the elements of an effective plan
- Write a business plan